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IOT: Algorithms in Big Data

If you are new to this area, first we recommend reading our blogs on IOT, Algorithms and Big Data Analytics.

The use of algorithms in Big Data and the internet of things (IOT) go hand in hand. As of 2020 there are currently around 7 billion humans and counting, this alone produces data on a scale that cannot be processed by humans alone. IOT are the devices connected to the internet that produce data, some devices collect data without the need for human interaction. According to Ahmed et al (2017) these devices have reached or have exceeded 60 billion, requiring computer driven algorithms to process this data. This is where data goes big! How does this affect inventory management, sales, and marketing and what is the importance of this?

Modern inventory management systems take advantage of computer systems to run their operations more efficiently. Riad et al (2018) discuss the use of IOT to monitor inventory, IOT is a system of devices linked together being able to transfer data over a network without human to human or human to device interaction. This method of data collection is used in inventories already mostly because it removes the possibility of human error however many have yet to adopt this. Despite the use of this powerful tool over the past couple decades, food waste, damages and traceability issues continue to grow and are projected to continue growing for the foreseeable future. Research suggests that algorithms and technology improve the handling of inventories, sales, and marketing but do not reduce the increase in overall waste, damages and missed marketing opportunities, partly due to limited adoption throughout the product lines in many industries.

AHMED, E., YAQOOB, I., HASHEM, I.A.T., KHAN, I., AHMED, A.I.A., IMRAN, M. AND VASILAKOS, A.V., 2017. The role of big data analytics in Internet of Things. Computer Networks, 129, pp.459-471

RIAD, M., ELGAMMAL, A. and ELZANFALY, D., 2018. June. Efficient management of perishable inventory by utilizing IoT. In 2018 IEEE International Conference on Engineering, Technology and Innovation (ICE/ITMC) (pp. 1-9). IEEE.

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