Running head: BIG DATA FOR IoT 1

Big data for IoT in the business sector

Name

Institution
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Introduction

The emergence of the internet of things has come with various changes in the business sector.
In the comparison of the current business environment and the traditional business, there is a
lot of changes which can be identified or seen. Traditionally, people were using barter trade
where they exchanged goods with other goods. Currently, business has grown to be easy
since people are able to exchange goods quickly due to the use of the current currency which
can be quantified and easy to account (Rachel, 2018). Businesses have been able to gather
data which is essential in marketing, logistics and other decisions of the organization. This
has increased competition in the market since companies are able to implement new ways
through the use of current internet of things. This approach is essential since most of the
businesses require the internet of things to increase their performance hence their gain
(Maddox, 2015).

The use of the internet of things has been widely used in various business sectors. According
to the Banica & Hagiu (2015), betting sites use big data for IoT to make predictions of the
games in order to create betting tips. This has increased their performance since they are able
to provide correct predictions to its clients. The literature also shows that big data is essential
in businesses since it helps businesses make and save money a case which makes them
become sustainable. According to Rivard, (2018), big data creates a chance for the industries
to account for sustainability. For example, the pharmaceuticals use the big data to account for
the carbon emission. This helps in making steps in sustainability goals in the world. Since the
emergence of the Internet of things and big data application, companies such as Nike and
IKEA have been able to control their customers hence value chain to their businesses
(Carillo, 2018).

Companies have increased use of the internet in their operations. Almost every company has
its own website and social media account (Williamson, 2018). This helps companies upload
their core activities, products, and services as well as interacting with customers. There has
been also increased protection of the data of the companies which they get from various
sources. This data includes the number of customers who review the company's products, the
available market gap and the success of a certain product in the market. This shows that big
data has a wide range of use according to the needs of the company. However, the Ranosys
(2018) shows that companies need to be conversant ways of maintaining the security of the
big data. This is because big data can have greater negative impacts on the company
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especially if the data gets lost the third party. Maintenance of the internet of things may be
expensive because it may need proper ways of keeping the data safe and proper protection
(Hsu, 2014).

According to the above literature review, the application of big data in the business sector as
well as other sectors is provided. For example, the literature review shows how businesses
use big data for IoT and how they think it is important to them. The studies also show how
the companies should maintain their big data in order to have relevance to their activities.
However, the available literature and researches fail to show the impacts of the use of big
data in the business sector. This may be due to the factor that the use of big data has not
stayed for a long time and some of the businesses may have not realized its importance. This
research aims to investigate the impacts of big data in the business sector in order to provide
an understanding of businesses on the impact they may get while using big data. The research
will also be beneficial to new companies wishing to use the big data in order to understand
what they would expect from the use of the big data and how it may provide competitiveness
to the operations.

Material and methods

The research will use secondary data from various company websites to assess their use of
big data. The research obtains information from four companies which include Toyota
Corporation, Samsung Company, Nike and Starbucks Company. the study will assess the
times of use of the big data when the companies used big data and the benefits they attained
from the use of big data in order to understand the impacts of the big data for IoT. The data
collected will be written in papers for analysis and discussion. The data will be analyzed
through the making of judgments since it is qualitative and does not need any scientific tool
for analysis such as SPSS. The analysis will be reported by the use of PowerPoint.

Methodology
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Search of company information about use of big data

Data collection

Results of the study

Discussion of the study

Results

The results show that Nike Company uses big data to attain customer preferences for shoes
and other products. It also uses big data in form of financial rewards on online platforms to
reward customers who make purchases online. The Nike Company uses big data to monitor
how its customer's shop, how many visit their website and do not make any purchase and the
number of customers who make online requests.

The Starbucks uses big data to make its menu according to the customer's preferences. The
big data is also used in making digital menu boards which are essential for testing the
performance of the initial menu. The Starbucks uses big data in making decisions on where to
locate its stores. Starbucks uses big data to collect customer information about the type of
food they need thus improving their customer involvement (Bragg, 2018).

The Toyota Company uses big data to collect information about the customers about the
vehicle model they need in order to manufacture the model that fits the market need. The
company also uses big data to identify the location of its customers, their buying motives and
purchasing power in various countries in order to understand where to sell various vehicles. It
also uses big data to monitor customer feedback and understand who needs after sales
services (Marr, 2018).

The Samsung company has introduced its mobile app known as Smart Things app where the
customers are able to access the company products, make an order and pay for the goods
purchased. The Samsung Company uses this app to track customer’s information, locate
where the customers are and keep data on how customers make the purchase (Marr, 2018).

Discussion
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According to the results, the companies use big data for various ways. From the results, it is
evidenced that companies use big data to collect customer information in order to understand
what customers needs. This helps the companies to offer what is needed in the market thus
maximizing their gains and returns. The big data helps companies maintain their clients by
offering products that are in accordance with their specifications and features. This has an
impact on the customers because they become satisfied hence becoming loyal customers of a
certain company. The data collected by the companies is also essential in evaluating their
performance in the market thus it helps the company identify areas of weaknesses and
strengths according to the customer’s feedback thus offering best products and services.

The results also show that big data is essential in creating a competitive advantage. Use of big
data for companies helps in identifying market gap such as services needed, products and
areas not served thus creating efficiencies for companies since they know what to offer,
where and when. This creates a competitive advantage for companies in the market. The use
of big data helps companies to carry out market research and intelligence efficiently thus
saving more costs that would be used while carrying out fieldwork. This helps companies to
save costs and therefore attain higher performance. Finally, the big data has more impacts
since they help companies to attract new customers, maintain the existing while opening new
market segments.

Conclusion

The big data for IoT is essential for companies in the business sector since they have more
benefits. It helps companies to have access to new technology which improves performance.
Companies using big data are able to maintain their customers since they are able to sell what
their customers’ needs, attract new customers through understanding their needs and offering
products and services that meet their needs and increase its market competitiveness. The use
of big data helps companies survive in the competing market since they keep on innovating
through using the research findings carried out by the use of big data.
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References

Banica, B. & Hagiu, A. (2015). Big data in the business environment. Scientific Bulletin-
Economic Sciences journal. Vol 14. Available at <
http://economic.upit.ro/buletin_cd/BS_2015_1/Art_10_Banica_Hagiu.pdf >

Bragg, T. (2018). How Starbucks and other businesses benefit from big data analysis. Hybrid
blog. Available at < https://techhq.com/2018/05/how-starbucks-and-other-businesses-
benefit-from-big-data-analysis/ >

Carillo, D. (2018). 10 Big Data trends you should know. KDnuggets blog. Available at <
https://www.kdnuggets.com/2018/09/10-big-data-trends.html >

Hsu, J. (2014). Why big data will have a big impact on sustainability. The Guardian journal.
Available at < https://www.theguardian.com/sustainable-business/big-data-impact-
sustainable-business >

Maddox, T. (2015). The Power of IoT and Big data. ZDNet blog. Available at <
https://www.zdnet.com/topic/the-power-of-iot-and-big-data/ >

Marr, B. (2018). Starbucks: Using Big data, analysis, and artificial intelligence to boost
performance. Forbes article. Available at <
https://www.forbes.com/sites/bernardmarr/2018/05/28/starbucks-using-big-data-
analytics-and-artificial-intelligence-to-boost-performance/#36b44d2765cd >

Marr, B. (2018). The amazing ways Samsung is using big data, artificial intelligence and
robots to drive performance. Forbes blog. Available at <
https://www.forbes.com/sites/bernardmarr/2018/05/30/the-amazing-ways-samsung-is-
using-big-data-artificial-intelligence-and-robots-to-drive-performance/#c03aa302b8d2
>

Marr, B. (2018). The amazing ways Toyota is using artificial intelligence, big data, and
robots. Forbes blog. Available at <
https://www.forbes.com/sites/bernardmarr/2018/11/09/the-amazing-ways-toyota-is-
using-artificial-intelligence-big-data-robots/#55b3caab3863 >

Rachel, (2018). Starbucks’ secret ingredient: data analytics. Digital initiative blog. Available
at < https://digit.hbs.org/submission/starbucks-secret-ingredient-data-analytics/ >
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Ranosys, (2018). 5 Big Data analytics trends that we can expect in 2018. Ranosys
Technologies. Available at < https://medium.com/@ranosys/5-big-data-analytics-
trends-that-we-can-expect-in-2018-84197de99b50 >

Rivard, J. (2018). Big Data trends you should know about in 2018 (Infographic). Marketing
insider group. Available at < https://marketinginsidergroup.com/strategy/big-data-
trends-you-should-know-about-in-2018-infographic/ >

Williamson, J. (2018). The 4 V’s of big data. Dummies blog. Available at <
https://www.dummies.com/careers/find-a-job/the-4-vs-of-big-data/ >