Investigating Business Intelligence in the Internet of Things

This report provides an overview of business intelligence in the Internet of Things (IoT). It discusses how the integration of IoT technologies can transform business operations by enabling real-time analytics and data-driven decision-making. The report explores the challenges and opportunities associated with implementing IoT in business, including data integration, security concerns, and business model innovation. It highlights the importance of aligning technological development with economic value creation and examines case studies such as Powerhouse water cooper (PwC) to illustrate the practical applications of IoT in enhancing business intelligence and addressing vulnerabilities. The report emphasizes the role of IoT in improving data analysis, tracking resources, and facilitating communication within organizations, ultimately contributing to competitive advantage.

Internet of Things in Business Intelligence
[Name of the Autor]
[Designation]

ABSTRACT – Nowadays most of the initial development towards the Internet of things is focused on the combination of
Auto-ID and networked infrastructures in business to product life cycle applications and business logistic. The emerging
internet of things deliver a suitable infrastructure that enables the growth of business transformation as well as radical business
changes. The purpose of this report to provide a broad description of business intelligence in Internet of things. Within the
chapter the concept of business models and model innovation as means to align technological development and economic value
creation in internet things is illustrated.
Keywords: internet of things, Powerhouse water cooper,
cyber-attack, green business model, e3-value ontology
1. INTRODUCTION (15 MARKS)
The report focuses on the use of the internet of things
technology in the field of business. The use of the internet of
things technology can be used for the solving of the various
issues that is arising in the field of business. The report is
structured in such a way that the requirement of the business
is satisfied. The real time analytics becomes a reality with IOT
data transmitted over the Internet and consumed by the
Business Analytics. Use of Past data is to analyse and identify
the hidden trends so that future predictability is built. Current
data helps validate the relevancy of the Business Analytics
Model. It also helps in taking some course corrections as and
when required [1]. The real time analytics becomes a reality
with IoT data transmitted over the Internet and consumed by
the Business Analytics. Use of Past data is to analyse and
identify the hidden trends so that future predictability is built.
Current data helps validate the relevancy of the Business
Analytics Model. It also helps in taking some course
corrections as and when required. The introduction part
defines the concept of the technology of internet of things.
The introduction also includes the various other important
points such as the purpose of the report, the problems
statement of the report that has to be satisfied. The literature
review defines the concept of internet of things and the use of
the internet of things that has been mentioned in the present
and the past. The use of the internet of things has to be made
such that the various issues and the vulnerabilities can be
solved in the business. This is the main part of the report that
defines the use of the internet of things in the various
businesses [2]. The past and the present works are given in the
literature review and this can help in the providing of the
various solutions that are related to the field of internet of
things. A number of methodologies that come under the
internet of things technology are defined in order to present
the solution that may arise in the various businesses. Out of
these methodologies, a methodology is selected that is most
applicable in this case. There has been an explosion of the
embedded and connected smart devices, systems and
technologies in our lives, which has been creating many
opportunities in order to connect every things, which are
present on the internet. Internet of things can be easily defined
as a future of internet which mainly focus on machine to
machine learning. IOT mainly aims in providing connectivity
with everyone irrespective of their location. It generally
adopts some intelligence in internet based objects for various
kinds of communication and also aims in providing amazing
kind of services [44]. The report mainly deals with various
kinds of challenges related to business model design in the
development of internet of things. The development of
business intelligence in IOT is mainly driven two aspects that
is changing of focus from technology platform and shifting of
business model.
2. BACKGROUND/LITERATURE REVIEW
This literature review presents the past and the present
works that is done by the implementation of the internet of
things concept. The business intelligence procedure involves
the analyzing of the data from the various sources. The use of
the internet of things concept helps in the identification of the
different forms of data. The use of internet of things helps in
the better understanding and analysis of data by help of
communication among various forms of data. Connected form
of data is to be used in order to interact with the different data
forms [3].
The internet of things is responsible for the
connection among the various devices that is present within
the network. The various systems interact with each other and
is responsible for the communication of the various important
data and information. With the help of the technology of
internet of things, the various works of the organization can be
done at a faster rate and with more efficiency [4]. The use of
the internet of things allows the communication with the large
number of devices with the help of which the businessmen can
reduce the work load that is present in the various
organizations. The use of the internet of things technology
allows the businessmen to keep a track of not only the
products and the storage materials but also the employees that
are a part of the business.
2.1 PAST AND PRESENT WORK
The use of the internet of things is made by the various
organizations for the obtaining of the competitive advantage
in the organization. The use of the internet of things helps in
the easing of the various tasks of the business. The business
intelligence technology has a large contribution towards the
analyzing of the large volume of data. However, there are a
number of issues that is faced by the different organizations
due to the migration of the business intelligence. There are
large chunks of information that needs to be integrated and
analyzed in a short span of time. The loss of even a minute to
analyze the large chunk of data may be critical for some of the
organizations [5].

The Powerhouse water cooper (PwC), Australia is an
accounting firm that is responsible for the handling of large
number of information. The use of the internet of things is
made for the handling of the large number of clients and for
the proper management of the work flow of the organization.
The PwC is an organization that has to handle a large number
of clients at the same time. The use of the internet of things
technology helps in the communication with the large number
of clients at the same time with the help of the virtual bot. The
use of the virtual bot concept helps in the handling of the large
number of clients as the reply to the clients can be made at the
same time [6]. This helps in increasing the efficiency of the
organization as the use of the concept of the internet of things
can reduce the time that would have been required for the
communication with the clients. PwC is an organization that
has been able to hold a top position in the market by the use of
the technology of internet of things. The regular and the
integral working of the PwC organization comprises largely of
the use of the internet of things. The other sector in which the
use of the internet of things can be made is for the tracking of
the raw materials and the products. The tracking and the
integration of the various raw materials and products involve
the use of the internet of things technology. The use of the
internet of things helps in the communication of the status of
the various products. The data and the status of the various
products have to be maintained in order to maintain the count
of the product for the future use [7]. The use of the internet of
things can be used for keeping on the count of the products.
The count of the products are required for the future use of the
organization for the calculation of the profit and the
investment that has to be made. The internet of things helps in
the updating of all these information in an automated manner.
The track of the number of products brought and the number
of products sold has to be maintained and all these are done in
an automated manner by the internet of things methodology
[8]. The use of the business intelligence is made by the PwC
for the analyzing of the large volume of the data regarding the
raw materials and the status of the products. Due to issues that
is faced by the use of business intelligence in the analyzing of
the data, the internet of things concept is implemented, which
further contributes in the bringing together of the numerous
information systems to analyze the data [18].
Apart from the analyzing of the data, protection of the data is
an integral part of the business intelligence structure. The data
that is analyzed by the help of the business intelligence
methodology also needs to be protected from the malicious
attacks. Various vulnerabilities are present in the PwC
organization. The PwC being a well- reputed and famous
organization it is more vulnerable to the various risks and
attacks [9]. The various attacks on the organization would
mean the data loss of the organization and the access to the
systems of the organization. The access to the systems of the
organization would mean getting hold of the confidential
information of the organization and the information about the
employees of the organization. The various rivals, who are
members of the other organization, may lay down these
attacks. The use of the internet of things technology is used
for the providing of the solution related to the issues arising in
the protection of data by business intelligence method. The
internet of things concept helps in the communication of the
solution to the risks that may be involved [19]. The use of
internet of things helps in the analyzing of the environment
and providing the best possible solution to the risk. The use of
the concept of internet of things helps in the communication
of the various data and information, which helps in the best
possible communication of the risk. The various solution that
may be provided by the use of the internet of things concept
for the protection of the data are the use of the firewall, cloud
computing for the security purpose or the use of big data for
the storage of the information [10]. Even recently, the PwC
uses the concept of the internet of things for the
communication among the various offices around the globe.
The various projects or the investments have to be discussed
with the various other branches of the organization. The use of
the internet of things helps in the communication. The various
systems of the different branches of the organization can
communicate with each other for the passage of the
information. Any updating of the system or the installation of
a new software may be done at the same time at the various
offices at the same time by the use of internet of things [20].
A business model is something which can be defined as the
overview of the process which is adopted by any organization
in order to do perform all its operation. According to
Osterwalder, Pigneur, & Tucci (2015) “business model is a
description of the value a company offers to one or several
segments of customers and of the architecture of the firm and
its network of partners for creating, marketing, and delivering
this value and relationship capital, to generate profitable and
sustainable revenue streams” [11]. As stated by Chesbrough &
Rosenbloom (2002) and Morris, Schindehutte, & Allen (2005)
business mods are usually split into various components. And
the most important components which are used at a wide basis
in the business model literature mainly includes the value
propositions, customer segments, customer relationships,
channels, revenue streams, key resources, key partnerships,
key activities, and cost structure.
At present business are becoming more complex in nature and
it is mainly due to complex nature of business ecosystem. The
complexity further increases when transforming from
centralized to decentralized and lastly distributed networks.
Various kinds of structures focus on type of activities in a
particular ecosystem. At a result it is increasing the level of
complexity for new kind of system. Business ecosystem can
be easily defined as a kind platform in which various kinds of
institute can easily participate. In other words, it can be easily
defined as an organization of economic factors who comes up
with business activities around a platform and lastly
organization of large number of things. The technological
platform provides a core for various business ecosystem
which mainly defines a platform for various technological for
building blocks and assets which is used by various
organization. Business ecosystem can be easily defined as an
economic community which is mainly supported by
interaction with various kinds of individuals and organization.

A business ecosystem mainly comprises of things like
producers, competitors and other kind of stakeholders. It also
argues the social economic system which is mainly considered
to be complex in nature.
A business model framework is the tool which is associated
with helping the companies in the process of developing the
business models. In order to develop a framework for the
business model associated with the application of the IoT [17].
3. ISSUES
There are mainly three kind of problem which are
encountered for the large number of issues like diversity of
objects, immaturity of various innovation and lastly
unstructured ecosystem. The issues of diversity of in
business intelligence mainly focus on difficulty which can
arise from implementation of business intelligence in IOT. It
also focuses on various kinds of connected devices which can
be easily used for various kinds of connected device which are
generally accepted based on various emerging standards. IOT
can be easily defined as a kind of network of various
interconnected objects [45]. In the near future it will
connected various things like toothbrush to refrigerators along
with cars which have some kind of online presence. Diversity
of business intelligence will focus on another manager
provided they can provide endless methods of connection of
objects, things and lastly consumer altogether. So as a result
the business intelligence in internet of things will increase in
near future.
Immunity mainly refers to present mess which is
encountered in developing technologies and various kinds of
components associated with it. At present IOT innovation
have not matured into its various products and services. It is
not being standardized for wide range of usage and generally
depends on engineering for coupling it together.
Modularization of objects mainly focus on various character
of components which is used in present environment.
Coupling of various components generally help various kinds
of developers to do experiment and provide various kinds of
products and services from internet of things. It is mainly
learned from various market experiences during the design of
this model. The well-known model of technology is all about
adoption lifecycle which mainly recognizes on five type of
adopters which is inclusive of innovators, early majority, late
majority and laggards. The most important kind of challenge
which is being encountered is that business intelligence allows
scaling up of various business [46]. The earliest kind of
adopter mainly focus immaturity of innovation which focus on
majority for evaluation and buying of whole product.
Unstructured ecosystem mainly defines as underlying
structure, role of stakeholders and creation of value based
logics. There may not be any kind of appropriate model in the
developing ecosystem [48]. Like IOT operators or any kind of
customer might be missing. New kind of business
opportunities mainly focus on new relationship in new kind of
business opportunities and is generally considered to be
challenging for various kinds of managers. The issues or
complex nature of ecosystem is generally associated with
large number of participants while earlier kind of ecosystem is
considered to be unstructured along with open playground for
large number of participants[47]. Internet can be considered as
a potential driver for richness and various kinds of business
ecosystem which will use internet in various kinds of ways
like ecosystem for Amazon web services. The idea of
ecosystem is mainly enabled by open API and open data or
other kind of business ecosystem which mainly works around
community developed platforms. In the coming future there is
a need of keystone which can easily shape the ecosystem of
IOT business.
4. Future Research
The project requires the proper working of the systems of the
organization such that the systems can communicate with each
other. The use of the technology of internet of things requires
advanced machinery so that the various systems in the
different sectors can communicate with each other in a proper
manner. Skilled people are necessary for the checking of the
results that is given by the internet of things. Any solution of
risk is given in an automated manner [12]. Thus, trusting of
the automated process may often result in wrong outcomes.
Cross check of the solution should be done by skilled
professionals hired by the organization. Internet of things
requires all the systems to be connected to each other in order
to communicate the information throughout the systems.
Thus, any form of error in one of the system in the network
may affect the other systems. Any form of error in the
network would also affect the systems attached in the
network. Thus, the system should be flexible enough such that
any effecting of one of the system should not affect the other
system that is connected in the internet of things network [16].
Thus, flexible network is the other requirement that needs to
be present [13].
There are a number of methodologies under internet of that
needs to be addressed in order to satisfy the requirement of the
business. The major problem that is faced by the business
organizations is the issue of the storage of the large volume of
data. The next problem that needs to be eliminated is the
issues of cyber security, which needs to be addressed for the
proper working of the organization. The solution is given by
the different methodologies that is provided by internet of
things technologies by the communication with the various
systems that are present [14]. The communication is based on
the various cyber security solutions and the analyzing of the
risk situation in the organization. The most probable
methodology that can be used is the big data technology. By
the use of the big data technology, the data storage of the large
volume of data can be done easily. The help of the big data
technology also does the management of the large volume of
data. Big data technology can be used as a better option as
compared to the database management system as the big data
technology can handle structured as well as unstructured data.
As the big data is responsible for the holding of the large
volume of data, there are chances of the big data to crash.
Thus, the better technology for the storage of the data is the
cloud computing [15]. Cloud computing technology is
advantageous over big data as cloud computing does not
involve the consumption of the storage space of the system.

All the data gets uploaded to cloud and the space of the
system is saved. The cloud account can be accessed from
anywhere and thus does not require the carrying of the system
in person in order to get the access of the data. All the
methodologies fall under internet of things, which is
responsible for the use of these technologies by the analysis of
the environment and the various risk factors [21].
The other methodology of the usage of internet of
things to better the position of business intelligence is the
usage of machine learning. Machine learning helps in the
analysis of different solutions and puts forward the best
possible solution that can be applied [28]. The machine
learning contributes in the efficient analysis of the data by the
communication with the different forms of data. The machine
learning concept helps to check the records that is present in
the system. The use of machine learning can also be used for
the extraction of the solutions to the risk that may arise in the
use of business intelligence. The machine learning technology
is a part of business intelligence that plays a vital role in the
analyzing of the data. The use of the internet of things concept
helps in the communication with a large number of devices
and by the comparison of these communications, the best
possible solution is given.
The other methodology that is used is the predictive
analysis of the data. This helps the business intelligence
structure to analyze the risks that may arise in the
implementation of the technology [29]. The predictive
analysis helps in the prediction of the vulnerabilities that may
arise by the help of the internet of things concept. The internet
of things concept helps in the communication of the working
environment and the forms of risk that has to be faced in the
previous situation. Based on these communications the
solution to the predictive analysis is given.
The other risk in the business intelligence procedure
is the protection of data during the procedure of analysis of
data. There has been an increase in the number of cyber-
attacks, which take place in the business. With the increase in
number of business firms and the competition among these
firms, one organization looks to take the advantage over the
organization. There may be activities such as data stealing by
the rival organization [30]. Thus, in order to protect the
organization from such cyber-attack, the organization
implement various methodologies that come under internet of
things. Cloud computing is another technology that is of
importance with respect to the protection of data. The creation
of the snapshots helps in the prevention of the data loss. The
creation of snapshot helps in the creation of the copy of the
activities that has taken place in the system. The images
concept under the cloud computing technology also
contributes in keeping the copy of the various information
[26]. In case of any cyber-attack the data loss will not take
place and the data of the organization will be retained. In
order to protect the other forms of cyber security, the
installation of the firewall is required. Under the cloud
computing, the usage of the IAM role can help in the
prevention of the attack by the hackers. The use of the IAM
role requires the user to enter the security credentials in order
to get the access of cloud [31]. The use of private key helps to
detect the systems that contribute that try to access the
systems in an unauthenticated manner.
The challenges discussed can be overcome by the businesses
and develop a model for the IoT if they are associated with
focusing on the ecosystem approach of doing their business
[27]. Besides this if they are associated with the usage of the
business model design tool that is associated with considering
the ecosystem nature of the IoT instead of emphasizing on the
specific companies self-centred objectives then it would be
very easy to overcome the problems. The section discussed
below discusses about all this endeavours [22].
It is suggested that the managers of the business needs to shift
their centre of focus from the “business model of a firm” to an
“ecosystem business model”. But there exists three
interpretations of the “ecosystem business model” in the
literature [32]. Firstly the term generally refers to the business
model having specific cases for example a business anchored
in the ecosystem concepts e.g., the concept of a “green
business model” that appeals to ecologically-motivated
stakeholders and has specific “green” qualities). Secondly an
ecosystem business model can be shared by participants
present in an ecosystem (e.g., the term “fabless semiconductor
business model”, which implies that all fabless semiconductor
firms are more or less the same). Thirdly comes the
construction at the level of analysis above the firm and this
explains the working process of the entire ecosystem towards
a common goal rather than focusing on the way by which the
firm-leel business works. But the third interpretation mainly
refers to the ecosystem structure instead of focusing on the
ecosystem as the business model [23].
Instead of understanding all these different type of
interpretations as distinct concepts, this study would be
helping in understanding these interpretations with different
views of the identical phenomena [33]. However, it is
generally argues my many researchers that an ecosystem
business model mostly consists of a set of value pillars which
are anchored in ecosystems, and the focus of this is upon both
of the firm method. These methods are associated with the
creation and capturing of the value as well as any part of the
ecosystem's method in order to create and capture the value to
the ecosystem.
Various attempts have been made in order to define the
IOT business ecosystem from the perspective of a platform
perspective, however the present focus of IOT players is
mainly on the various fragmented solutions and applications
fails in order to support all the efforts that have been made
[25]. The most important and the basic approach for
understanding IOT business models is to look upon the values
for all the actors in the IOT business ecosystem [35]. This
approach is also associated with identifying the values, which
is for the actors, which are initially responsible for enabling
the IOT platform. It has been tried by many of
telecommunications vendors and operators, along with the
IOT platform vendors (e.g., machine-to-machine platform
vendors), to articulate the value of the IOT. This is mainly

done by making use of this approach in order to design the
business models. But, it has been seen that the resulting
business models are often biased toward the vendor along
with lacking the number of drivers for shared value as one of
the explicit components [24].
The needs of understanding the integrated valued (i.e.,
shared overall value for an entire IOT ecosystem) instead of
the fragmented value drivers (i.e., individual actor’s value
from specific applications or services) has been underlined by
this study [36]. Therefore, it can be stated that, this study has
been associated with suggesting a shift of the focus on the
creation of the value as well as capturing of the values in a
business models from the company level to the ecosystem
level. Business model frameworks for the IOT should assume
a higher-level perspective to articulate the integrated value of
the IOT rather than address the fragmented value drivers.
Weill and Vitale (2001) was associated with introducing a set
of simple schematics, which are mainly intended to provide
tools in order to design the initiatives of the e-business [38].
The “e-business model schematics” in their study include
three classes of business model components: participants (firm
of interest, customers, suppliers, and allies), relationships, and
flows (money, information, product, or service flows).
In a similar way Tapscott, Lowy, and Ticoll (2000) was
associated with suggesting a value map in order to depict the
way by which the business web operates [39]. The value map
is associated with depicting all the key classes of participants
(partners, customers, suppliers) and value exchanges which
occurs between them (tangible and intangible benefits and
knowledge). Similarly, Gordijn and Akkermans (2001) has
proposed a conceptual modelling approach known as the “e3-
value ontology”, in order to define the way by which the
economic value is created and exchanged inside a network of
the IoT actors [40]. The ontology provided by them has put
forward a number of useful value-related terms, which
includes the value object and value port. Muegge (2011) has
argued on the fact that the engine driving innovation can be
stated as a resource cycle in an ecosystem from the platform
to the business ecosystem, to the developer community, and
back to the platform. Besides this, he has also argued that the
developer community acts as the locus of value creation
(innovation) and the business ecosystem acts as the locus of
value capture (innovation commercialization) [41].
Allee (2000) was associated with arguing of the fact that a
"value network" is associated with generating economic value
by making use of the dynamic and complex exchanges which
occurs between the companies, suppliers, strategic partners,
community, and customers and users. She also stated that
these value exchanges can also be mapped as the flow
diagram which shows the goods, services, and revenue
streams, along with the flow of knowledge, and creation of
value [42]. Additionally, the Dynamics, which is visible from
the perspective of the value network, is also relevant while
describing business models at a company level. Casadesus-
Masanell and Ricart (2010) also argued on the fact that there
exists a set of managerial choices and their consequences in
the business model [43]. Every choices, which are made,
might be resulting in a different outcome. For this reason they
are responsible for driving the dynamism. Additionally, they
have also summarized the three characteristics of a good
business model which mainly includes the “alignment with the
goals of the company”, “it is self-reinforcing” (i.e., dynamic
and cyclical), and “it is robust”. These characteristics are also
associated with supporting the business sustainability in
ecosystems (cf. Iansiti & Levien, 2002) [42].
5. Conclusion
This report helps in concluding to the fact that the use of
IoT for business intelligence at increased at a rapid rate. The
major constituents of the report includes the in=identification
of the various problems followed by a literature review which
also shows the different past and present works relating to the
use of the IoT in business intelligence. The report has also
been discussing certain methodologies, which can be used for
overcoming the entire problems ad by which the efficiency of
the business can be increased.
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