Computational Business Intelligence, Big Data, and Their Role in Business Decisions in the Age of the Internet of Things

Abstract

The evolution of the big data and new techniques related to the processing and analysis of large databases is revolutionizing the management of companies in the age of the Internet of Things (IoT). In this chapter, we examine the possibilities of big data to improve the services offered by companies and the customer experience and increase the efficiency of these companies. Companies must accept the challenge of self-assessment and measure the barriers that threaten to prevent them from reaching to get the maximum potential derived from big data and analytics. The combination of big data and computational business intelligence will change completely processes, logistics and distribution strategies, the choice of marketing channels and any aspect of the production and marketing of products and services. A case of GE is presented to showcase the use of the IoT and big data. All companies, regardless of size or sector, will improve their business operations due to big data generated from the social media and IoT applications and its use in computational business intelligence.