The Smart Home is the Next Big Data Frontier

by Parks Associates | Nov. 4, 2015

Recent Parks Associates research finds that with the demand for smart devices increasing, consumers are demanding a more convenient way to control those home devices with the use of their smart devices. Consumers want to be able to control their home devices and by utilizing the features provided on their phones or tablets, such as downloading apps that allow the consumer to monitor their thermostat, air conditioning, alarm system, etc., they are able to have the control they desire with the convenience they expect.

Parks Associates, Ayla Networks, and mnubo recently partnered together to co-cost a complimentary industry webcast that explored strategies for using the data generated by smart products to create operational efficiencies, brand differentiation, taking advantage of all connected home features, and new brand partnerships. It also analyzed how the data collected from connected devices creates an opportunity for consumers to optimize product performance while also allowing companies to gather in-depth knowledge on consumer behavior through the monitoring of actual product usage.

Highlights from the webcast include:

  • People actually prefer to pay more for products, such as a smart thermostat, that can be programmed to do more than a less expensive product.
  • Extract the most value from IoT while optimizing user experience by promoting bilateral connection with shared data between a smart phone and home devices.
  • Smart home as the next big data frontier—push past convenience, be proactive with connected home devices.
  • Track data in real time to help drive operational efficiency, companies will know if its devices are working or not.

Speakers on the webcast included Vish Pai, Product Manager, Cloud Services for Ayla Networks, and Aditya Pendyala, Head of Products for mnubo. Tom Kerber, Parks Associates Director of Research, Home Controls and Energy moderated the discussion.

Download a complimentary copy of the slide deck and audio from this webcast by clicking here.

Further Reading:

Next: Data Security Threats to the Internet of Things
Previous: Winning Strategies for Mid-Market Home Systems: Parks Associates at CEDIA 2015


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