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In a Smart-System World, Data's 'the New Currency'


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data abstraction

Credit: Beacon Data Systems

Modern smart systems produce billions of streams of real-time data, and analytics science is creating services that have even more value than the smart systems themselves.

These cyberphysical systems will eventually make up 50 percent of all electronics worldwide, making them a U.S. strategic asset, according to the U.S. President's Council of Advisors on Science and Technology.

The U.S. National Institute of Standards and Technology (NIST) recently announced a standardization effort to define interfaces for interoperability, as well as metrics and methods for measuring and comparing performance among smart systems. The most valuable services performed by these smart systems result from the application of analytics to real-time data streams, according to International Data Corp.

NIST and the U.S. National Science Foundation's Institute for Systems Research are planning to take an integrated approach to developing a common design methodology for smart systems. "Right now, smart systems are being manufactured on the stovepipe model; the folks constructing the smart grid, smart buildings, and smart transportation are each coming up with independent solutions to their own application domain, without standardizing on the common issues of safety, resilience, security, and interoperability," says NIST's Shyam Sunder.

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