Business Intelligence on IoT: Impact, Opportunities, and Challenges

This report explores the impact of the Internet of Things (IoT) on business intelligence, focusing on how the interconnected network of devices enhances business operations and creates new opportunities. It discusses the components of an IoT system, including connectivity, sensors, data processing, and user interfaces, and analyzes how IoT implementation can lead to increased business opportunities, enhanced asset utilization, efficient processes, improved security and safety, and heightened productivity. The report also addresses potential challenges, such as system complexity, data privacy concerns, and job displacement due to automation. Concluding with recommendations for companies incorporating IoT, the report acknowledges both the benefits and drawbacks of business intelligence in the IoT era, providing a balanced perspective on its adoption and impact.

BUSINESS INTELLIGENCE ON IoT
Student Name – Student ID
Masters in IT – Networking
Abstract
Internet of things is referred to as the
growing network of objects that features an
IP address for connectivity with the internet.
The primary objective of the report is to
discuss the impact of IOT on business. The
story will explain the result and the ratio to
which IOT increased the growth rate for the
company. The various aspects of business
where it gained immense popularity will be
discussed further. Finally, the report will
conclude with the business intelligence on
the internet of things.
1. Introduction
IoT system comprises four components:
connectivity, sensor, data processing, and a
user interface. This report will mainly
discuss the use of IOT in business. In the
market for developing technology, IoT
services linked with the company helps to
earn more worth for businesses. Iot has
connected business and people in a
significant way. Iot provides all solution
from Apple watches to standard phones.
2. Discussion
This report tends to discuss the business
intelligence on the internet of things.
Business is being in connected with IoT, and
this is benefiting the market to no small
extent. Uses of Iot on business are:
2.1 Business opportunities increases
With the implementation of IoT, new
business opportunities opened up for people.
Also, helped companies to earn benefit from
new services and models proposed by IoT.
IoT-driven innovative ideas for building

strong cases for an organization decreases
the time required for marketing and
increases investment on returns. IoT has the
potential to convert the way business, and
consumers approach the IoT world beyond
connectivity.
2.2Enhanced Asset Utilization
IoT improves tracking of assets using
sensors and connectivity, and this helps the
organization from insights in real-time. This
helps the organization to encounter the
issues related to assets and to generate
measures to order to improve asset
utilization.
2.3 Efficient Processes
Business connected with other activity on
the internet leads to smart business with
real-time operational while decreasing the
cost of operation. The information gathered
supply chain; logistics network helps to
reduce supply time for marketing and
downtime for maintenance.
2.4 Enhanced Security and Safety
An IoT service provides video cameras and
sensors in the workplace to ensure the safety
of equipment and protect them from
physical threats. IoT coordinates numerous
teams to determine issues quickly.
2.5 Increase Productivity
Productivity is an essential part of every
organization. As this plays the position in
the prosperity of any company. IoT offers
instruction for staffs, develop labor
effectiveness, and lessen inequality of skills
while escalating productivity of the
organization.
3. Recommendation
The companies incorporate IoT in their
organization will feel the complexity in

order operating it. As this is the complex
system, there are chances of failure. The
entire data are communicated over the
internet; this sometimes questions the
privacy. To some extent, this will lead to
loss of jobs for those who are not used to
technologies. This is the problems that the
organization may face while implementing
the IoT in the business.
4. Conclusion
From the above report, it can be concluded
that in spite of having so many benefits of
business intelligence there are some
significant drawbacks. These drawbacks are
stopping some of the organization from
adopting IoT in their organization. Thus, this
report has discussed all the points of
business intelligence briefly.
References
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the-most-impact-on-business-in-the-
next-five-years-survey-says/
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http://www.iotevolutionworld.com/io
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Rolik, O., Telenyk, S., & Zharikov, E.
(2017). IoT and cloud computing:
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Appendix
(Fig 1: Growth rate by BI intelligence)