Ventures produce solutions from the things that collect data via the internet and the collected big data produce solutions by understanding the needs of the customers faster. According to an estimate by the global management consultancy company Bain, the big data analytics and the internet of things market is expected to reach $520 billion in 2021, doubling 2017's figure of $235 billion.
The fastest growing segment of the data center and data analytics division will be the internet of things segment, which is expected to reach a combined growth rate of 50 percent from 2017 to 2021. These estimates alone prove that institutions should not delay digital transformation projects.
The priorities of all institutions with the claim of digital transformation are different. Some organizations first have to make efforts to collect healthy data. For this, they will carry out IoT integration projects. Some organizations, on the other hand, need to gain experience in big data analytics with the collected data.
In the whole digital transformation process, each institution should list their needs and priorities by approaching the event holistically. KoçDigital established by Koç Sistem, one of Koç Holding's companies, aims to manage the entire process from consulting to integration. In other words, the investments previously made with the information technology (IT) departments inadequately without seeing the whole picture, are now determined according to the customer-oriented structuring of the whole organization.
However, at this stage, the preparation of the consultancy service and design, which can be called the icing of the business, by the Boston Consulting Group (BCG) can be seen as a threat to the generation of more added value. On the other hand, the fact that the operation and cooperation of global companies will spread across the region stands out as an opportunity.
Three major obstacles
At this point, a very big market comes to the fore. Cloud Service Providers (CSPs) emerge as effective service providers, consulting and data analytics providers for businesses. Security, integration with the existing technology and the uncertain returns of the investment are the three biggest obstacles before the institutions.
Bain points to the need for vendors to focus on several key industries in delivering more target-oriented industry solutions. Businesses that manage to integrate their IoT projects need to reduce the most important barriers in the security providers, the ease of integration with the existing IT, operational technology systems and uncertain returns of investment.
As a result, businesses are increasing their expectations when their usage status reaches a certain level and gives a result. System integration, data center and data analytics, networking, consumer devices, network objects and legacy built-in systems are considered to be the six core technologies and solution areas of the IoT market.
The IOT and big data analytics will increase by doubling 2017's spending of $235 billion to $ 520 billion in 2017.
Businesses are still optimistic about IoT's business value and the potential to provide a positive return on investment. But most people are planning less comprehensive IoT applications by 2020.
Institutions should be further informed about the costs of emerging new needs. The cost of stopping after construction begins is higher. So, when you turn to new technologies, you cannot close your door to the digital customer's face.
l Big data is very useful for organizations because it helps to identify customer behavior patterns, consumer trends and preferences. Companies use such comprehensive data sets to make better decisions about their business. Many businesses use an advanced series of analysis to edit big and diverse data sets, which allows analysts, researchers and business owners to create a better and more effective strategy.Looking at the current demand for consumer satisfaction in the business sector, the global big data analysis market is predicted to grow by leaps in the coming years. The whole market is getting ready to generate an astounding income of $275 billion.
Largest corporate venture
Google is at the top of the corporate venture capital list. The most active corporate venture capital investors' list of Intel, GE Ventures, Microsoft, Qualcomm Ventures, albeit always interrupted, remain constant compared to the previous years. It is expected that software solutions will continue to be the starting point, rising from $2.1 billion in 2016 to $3.8 billion in 2018 for artificial intelligence (AI) and machine learning-based technologies.
In Turkey, on the other hand, Türk Telekom took a rapid step with the venture capital company in the telecom sector. So far, it has invested in two companies. By the end of the year, it is estimated that another venture will be added to the list.
'The Pioneers of the Journey' in open innovation
Institutions that take small steps in the entrepreneurial ecosystem are taking some timid steps while putting forward bright ideas in this area. Therefore, the number of venture programs in the seed stage is quite a lot.
The second phase of Brisa's open innovation program realized in cooperation with the Workinlot entrepreneurship platform is also part of such a step. In the program where entrepreneurs are invited to produce solutions in many different areas, Brisa offers various opportunities for successful entrepreneurs such as financial support, mentoring and entrepreneurship training.
The winning team in the grand finale will receive a prize of TL 10,000 ($1,620), as well as the chance to receive investment from Brisa. However, the ventures need a lot of support after the seed stage. In order to increase the number of Series A and Series B ventures, the institutions should invest in venture capital investments in addition to the venture programs. This will not only increase the chances of survival of the institutions for the future but will also contribute to the emergence of global ventures from Turkey.
Two million investments in AI solutions
AI technology solution teaches doing new business at the heart of traditional companies. Moreover, these ventures are successful in getting investments. The number of people investing in entrepreneurs within the Information Commercialization Center (BTM) established by the Istanbul Chamber of Commerce (ITO) is increasing day by day. This time the investor came out of the ITO Assembly.
Ayhan Alkan, vice president of the ITO Information Technologies Professional Committee, invested in MasterFi, which develops artificial intelligence technology to reduce the costs of companies and increase their profitability, on a valuation of TL 3 million ($490,000). Even though the steps are small, this step from within the chamber of commerce is expected to be a model for other institutions. In the end, the life span of companies in the digital age has been shortened.
This is only the beginning
Elaborating on the investment they received, Mesut Polat, the founder of MasterFi, stated that they are addressing a market of $183 billion in the world.
"In fact, this single sentence explains our vision: Each company will have its own artificial intelligence. In this context, we can say that MasterFi is only the beginning. We aim to create an ecosystem of artificial intelligence modules that we have developed for all subjects that require deep analysis and foresight for companies," Polat said.
"For this reason, we will work on product groups to meet the needs of our corporate customers by dividing the MasterFi brand in segments in the coming years. The product groups that we have planned will be MasterFi's MasterPi and MasterSi segments. MasterPi will analyze the portfolio structure of the personnel and provide the companies with the necessary strategies to improve their professional competence and skills, while MasterSi will use artificial intelligence systems on product inventory and logistics sides," he added.
Pay as much as you use
Noting that he aims to support young people, Alkan said that with this investment, he wants to set an example for the ITO members. He pointed out that the entrepreneurs in the scope of BTM have accomplished very successful projects and that as long as these entrepreneurs are supported, not only the entrepreneurs and investors but also the country will win.
"With my sector experience of many years, I can easily say that no matter how good the product is, it is not important as long as it is not used or sold," he continued. "The MasterFi is located right here at a key point. In addition, pay-as-much-as-you-use, the most preferred principle by most investors and customers, brings the MasterFi project one step forward. I trust the MasterFi team and project. Our vision will be to produce much more effective useful products."
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