Digital Transformation and Business Intelligence (BI) in the Industry 4.0 (I 4.0) Age

Abstract

It is crucial to investigate novel methods for handling the rapidly growing volume of data produced by Industry 4.0 (I4.0), Society 5.0 (S5.0), and IoTs (internet of things). Digital solutions are becoming essential for ensuring that the process continues unhindered and for giving prompt responses. To evaluate and conclude the vast amounts of data generated in this intelligent society, newer information technologies are required. Consisting of optimization, modeling, and data mining, BI is a bundle of technology for multi-dimensional analysis to obtain meaningful data and information from big data without the need for business analysts, professionals, or any trained experts. It consists of optimization, modeling, and data mining. This chapter aims to provide an overview of business intelligence, including its components, varieties, and practical uses in the context of the digital ecosystem. Following an explanation of the BI theoretical framework, four case studies from various industries will be covered, followed by empirical research.