How will the Internet of Things change the way managers make decisions? Give an example of a data stream from sensor data that you would like to monitor. Please explain why this would be beneficial to you.
Topic 7 Discussion 1: Internet
The Internet of Things IoT brings enormous changes in the data strategy of various businesses nowadays. It comprises several devices, sensors, and software that have been established in the past few years and can be able to seize, record, and autonomously transfer data and information. As a result, business managers are increasingly looking to adopt IoT so that the business can be able to include a high amount of big data in their decision-making procedure (Brous, Janssen, & Herder, 2018). With the use of IoT, businesses can be able to experience various benefits which are engaged in the overall civil infrastructure decision-making management. The data that had been collected with the IoT sensors and devices were directly added to the big data sets that various big and multi-national companies utilize for informing strategic and operational; decision-making. Moreover, the use of IoT has made both strategic and operational decision-making processes of the business smooth.
For example, let us consider RFID which is an IoT device. The device on the parcel or parcel group helps the business manager track the data about various factors that directly impact the product delivery right from the factory to the customers. The next example I am taking is the use of GPS which not only helps in tracking the different locations but also the delivery times and other patterns that can be observed with the given business data. Moreover, with these IoT tools, the perspective of customers looking at one business might change as they can be able to connect with the businesses in a new and innovative way. Therefore, the business can get into the practice of accessing greater data sets than ever. The IoT devices mentioned above help in tracking and recording the different behavioral patterns of consumers and also assist in developing smart product recommendations.
Brous, P., Janssen, M., & Herder, P. (2018). Internet of Things adoption for reconfiguring decision-making processes in asset management. Business Process Management Journal. Retrieved on 4th September 2022, from:https://www.emerald.com/insight/content/doi/10.1108/BPMJ-11-2017-0328/full/html
Marr, B. (2021). Internet Of Things (IoT): 5 Essential Ways Every Company Should Use It. Retrieved on 4th September 2022, from: https://bernardmarr.com/internet-of-things-iot-5-essential-ways-every-company-should-use-it/