Relaxed regulations and greater affordability soon could fill the skies with satellites put there to collect images and other data for businesses hoping to get a leg up on the competition.
Steerage To The Stars: The Cheapsat Revolution
(Click image for larger view and slideshow.)
If you made a list of recent and future catalysts of massive data growth, you'd probably jot down things like mobility, social media, machine data, the Internet of Things, and ... outer space?
What was once the purview of James Bond is increasingly accessible to private enterprises, which can now use satellite-generated information such as imaging and geospatial data for big data initiatives in market research and planning, supply chain and logistics, competitive intelligence, and other purposes.
Military and intelligence personnel have relied on satellite data for years to keep tabs on other nations and goings-on around the globe, but it was largely classified or otherwise restricted from the private sector. Now, looser regulations and lower costs are allowing companies to use that same kind of information for a variety of business reasons, such as near-real-time geospatial data visualizations of housing construction and other activity when planning new store locations.
"For years, this was all cut off [from the business world]," Thermopylae Sciences + Technology CEO A.J. Clark told us in an interview. For most people, the most obvious example of increased accessibility to high-quality space-based imaging is Google Maps or Google Earth. (Thermopylae was a 2013 Google enterprise global partner of the year for maps.) "The whole concept of having higher-resolution imagery is good when we just think about a user looking at a picture, but it's great, by an order of magnitude, when we start talking about running automated analytics against that imagery to develop answers to business questions," said Clark.
Just as intelligence agencies have used such images to track, say, activity in and around a particular facility in another country -- the number of trucks that arrive and depart in a given time period for example -- private enterprises now can access similar information for monitoring, say, a competitor's manufacturing plant.
"[In] any manufacturing [business], there is now an ability to replicate that supply chain and every detail about how frequently components move as companies analyze their competitors," Clark said. "Being able to extract automatically the answers to questions about anything that can be visibly detected within a competitor's space -- it just represents a treasure trove of new information to make better business decisions off of."
It's not just industrial spy games, either. The same principle could be applied inward to a company's own operations. Although corporations might do asset tracking on a narrower scale today -- GPS tracking of truck fleets, for instance -- they can now do much more by mapping and tracking all components of an end product through final delivery.
"You [can] spatially map your factory so as the part departs transits [between] different locations, you are alerted in real time where it's at, if it's delayed, if it went to the wrong place -- then as it's six hours from final production, you're sending an alert to your truck that's going to ship it to your retailer or to your end buyer that 'it's about ready to go, you guys should be teed up,'" Clark said. "The amount of time that is wasted in that entire supply chain, manufacturing, and delivery process is immense and we can be much more efficient."
Market research and analysis is another clear use for space-based imaging and geospatial data. Although tracking information such as population growth or new housing construction when determining whether to enter a new market
InformationWeek Elite 100Our data shows these innovators using digital technology in two key areas: providing better products and cutting costs. Almost half of them expect to introduce a new IT-led product this year, and 46% are using technology to make business processes more efficient.
Building a Mobile Business MindsetAmong 688 respondents to our Mobile Application Development Survey ó up from 350 respondents in 2012 ó 46% have deployed mobile apps, with an additional 24% planning to in the next year. Whatís the holdup for that remaining 30%? Often, itís a lack of expertise.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of September 18, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."