Latest Trend of Business Intelligence: Internet of Things, Real-Time Decision Making, and Artificial Intelligence

This assignment explores the latest trend of Business Intelligence, focusing on the Internet of Things (IoT), Real-Time Decision Making, and Artificial Intelligence. It discusses the advantages and disadvantages of IoT and provides a critical assessment of its impact on decision making. The assignment also includes a review of a journal article on IoT and its role in BI.

DATA HANDLING AND
BUSINESS
INTELLIGENCE

Table of Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
Internet of Things (Latest trend of BI)...................................................................................1
Advantages of Internet of things (IoT)...................................................................................2
Disadvantages of Internet of Things.......................................................................................3
Critical assessment of Internet of things................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business intelligence is mainly associated with analysis of complex raw data and convert
and transform this raw data into useful information. Thus, it can be evaluated that business
intelligence is basically a process and use of technology for having effective data handling
through getting meaningful information from raw data that drives better profits and decision
making by an organisation (Alpar and Schulz, 2016). Continuous improvement and innovation
are going in field of Business intelligence thus, the current assignment is based on evaluation of
these latest trend in BI. For that purpose an autistic article is reviewed that is based on Internet of
Things, Real-Time Decision Making, and Artificial Intelligence a critical evaluation of which is
provided in this assignment.
Main Body
Business intelligence basically represent the various software and technologies that has
made it possible and more effective to create value and gather useful information from big and
complex raw data (Kumari, 2018). Proper data handling is an always a top priority of every
organisation that consist of its storage, processing and maintaining its security to have proper
management of business operation and effective decision making. Thus, the flux and usefulness
of Business intelligence along with AI is continuous increasing as it facilitates a better way and
tool for effective data handling and transformation (10 Business Intelligence Trends for 2016,
2016). Further, with advancement in technology, the efficiency level of BI and AI is also
enhancing with new and more innovative trends that consist of better and more effective use of
AI and BI for improvising data handling and governance that facilitates a faster and better
decision making and also enhance viability and efficiency of other business operations. Thus, the
currents assignment is based on critical evaluation of a journal which is priced below in the
reference list.
Internet of Things (Latest trend of BI)
The journal that is selected for current assignment is based on the topic of Internet of
Things, Real-Time Decision Making, and Artificial Intelligence published on 16 may 2017
(provided below in reference list). This journal is written by James M. Tie and has its main focus
on concept of a servgood or containing information about Internet of Things (IoT). As per the
view point of James M. Tie, 2017, the real-time decision making is mainly associated with and
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central to the Internet of Things that consists of decision informatics and embraces the advanced
technologies of sensing (i.e., Big Data), processing (i.e., real-time analytics), reacting (i.e., real-
time decision-making), and learning (i.e., deep learning) to ensure more effective and better
decision making in real time. It has been also evaluated that The Internet of Things [IoT] is a
latest trend in Business intelligence that has bring many new opportunities for data visualization
and real-time analysis which facilitates a quick and more effective decision making by an
organisation in real time (Sugumaran, Sangaiah and Thangavelu, 2017). This, BI tools is having
the capability of delivering on data through the help of various connected devices which will
thrive and lead to advanced analytics for data scientists to have better use of BI and AI to reach
an effective decision and gather relevant information. Further, it has been also evaluated from
this journal that IoT and AI has become an integral aspect and part of effective and real time
decision making that consists of improved abilities at voice and video recognition along with
enhanced knowledge and understanding about the predictive synthesis, language, social media
and other digital technology that mutually supportive for better progress of data and effective
decision making on based of relevant information (Zhang and Wen, 2017).
The internet of thing is basically a system of correlated or interconnected computer
devises and other digital mechanics and machines that are having an unique identifiers (UIDs)
and have the ability and capability of transferring useful data and information over a network
through use of artificial intelligence i.e. without requiring any human to human or human to
computer interaction (Bertino and Islam, 2017). Thus, it can be evaluated that many advantages
are lead by this latest trend of business intelligence in having better collection and transformation
of data. A description about other advantages of IoT is provided below:
Advantages of Internet of things (IoT)
The main advantages of IoT include the fact that it encourages easy communication
between devises with total transparency and lesser inefficiency along with greater quality. The
other advantage of IoT consist of better automation and control over business operations through
a well connected centrally controlled digital infrastructure which ensures better monitoring and
control on workings (The advantages and disadvantages of Internet Of Things (IoT), 2017). The
biggest advantages that is associated with use of internet of things is related with faster and better
transformation of information in real time that makes decision making more fast, better and
reliable as it is based on relevant information. The another advantage associated with use of this
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latest and burning trend of BI is associated with time and cost efficiency. The machine to
machine interaction and use of AI provides better efficiency and accurate results could be
obtained in a faster way thus, IoT is useful in saving Time and at the same time reduced the cost
of tagging and monitoring equipment through offering automation of programmes and better
control and check over business operation and other working (Othman and El-Mousa, 2020).
Disadvantages of Internet of Things
Apart from various advantages facilitated by IoT some drawbacks are also associated
with this latest trend of BI. The compatibility and complexity issues are associated with use of
IoT as still no international standards of compatibility for the tagging and monitoring equipment
is not set thus, it makes it more complex (Dastjerdi and Buyya, 2016). Beside this, IoT is a
complex network in which any failure or small bug can lead to more inconvenience and serious
consequences. Further, the biggest disadvantage of IoT is associated with Privacy and security
issues as risk of losing privacy has increased that has lead to serious safety issues and risk of
hacking and leakage of data.
Critical assessment of Internet of things
On the basis of above discussion it can be evaluated that BI is an essential concept for all
organisation that ensures better transformation and collection of data and get converts it into
relevant information (Sisinni and et. al., 2018). Further, as per the review of journal written by
Tien, J.M., 2017, it has been it has been find out that IoT is an important latest trend of BI that
has facilitated real time decision making. Beside this it has been also analysed that many other
advantages are also lead by use of Internet of Things that consist of effective communication and
automation of business operation that lead to a more cost and time effective way to have better
trans of data in order to reach a more reliable and valid decision (Buyya and Dastjerdi, 2016).
Further, better control and management of working and business operations are also lead by IoT.
Beside all these advantages, some drawbacks of use of IoT are also there that consist of higher
complicity and risk of failure of system, further, it can also be critically assessed that higher risk
of threat of privacy and safety of data is also lead by use of Internet of Things.
CONCLUSION
With respect to above assignment it can be concluded that Business intelligence has become
a vital part of every organisation to betterment effective transformation of raw data into
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information. Further, it has been also summarised that Internet of things is a latest trend of BI
that makes use of AI and other digital technology to ensure a better and real time decision
making for betterment of an organisation.
REFERENCES
Books and journal
Tien, J. M., 2017. Internet of things, real-time decision making, and artificial intelligence. Annals
of Data Science. 4(2). pp.149-178.
Alpar, P. and Schulz, M., 2016. Self-service business intelligence. Business & Information
Systems Engineering. 58(2). pp.151-155.
Kumari, N., 2018. Data Management, Data Analytics, and Business Intelligence Can Assist in
Process Management and Process Improvement Efforts. Data Analytics, and Business
Intelligence Can Assist in Process Management and Process Improvement Efforts
(March 14, 2018).
Sugumaran, V., Sangaiah, A.K. and Thangavelu, A. eds., 2017. Computational intelligence
applications in business intelligence and big data analytics. CRC Press.
Bertino, E. and Islam, N., 2017. Botnets and internet of things security. Computer. 50(2). pp.76-
79.
Dastjerdi, A. V. and Buyya, R., 2016. Fog computing: Helping the Internet of Things realize its
potential. Computer. 49(8). pp.112-116.
Sisinni, E. and et. al., 2018. Industrial internet of things: Challenges, opportunities, and
directions. IEEE Transactions on Industrial Informatics. 14(11). pp.4724-4734.
Buyya, R. and Dastjerdi, A. V. eds., 2016. Internet of Things: Principles and paradigms.
Elsevier.
Zhang, Y. and Wen, J., 2017. The IoT electric business model: Using blockchain technology for
the internet of things. Peer-to-Peer Networking and Applications. 10(4). pp.983-994.
Othman, M. M. and El-Mousa, A., 2020, April. Internet of Things & Cloud Computing Internet
of Things as a Service Approach. In 2020 11th International Conference on Information
and Communication Systems (ICICS) (pp. 318-323). IEEE.
Online:
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The advantages and disadvantages of Internet Of Things (IoT). 2017. [Online] Available
Through:< https://www.linkedin.com/pulse/advantages-disadvantages-internet-things-iot-
tommy-quek>.
10 Business Intelligence Trends for 2016. 2016. [Online] Available Through:<
https://uk.pcmag.com/cloud-services/73741/10-business-intelligence-trends-for-2016 >.
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