IoT, Cloud Computing, Web 2.0/3.0, BPM & Big Data for Business

Internet of Things and Digital Identity

The Internet of Things (IoT) is a computing concept that describes a future when everyday physical objects will be connected to the Internet and will be able to identify themselves to other devices. The Internet of Things is significant because if an object can represent itself digitally, it becomes something greater than the object by itself.

Knowledge Lifecycle and Management

The knowledge lifecycle is composed of different stages. Each stage adds value to raw data and information as they are transformed into usable knowledge.

• Knowledge acquisition: Creating knowledge using tracking data from transaction processing systems (TPS) and external sources.
• Knowledge storage: Document management systems and other repositories.
• Knowledge dissemination: Portals, wikis, e-mails and other channels.
• Knowledge application: New business practices, new products and new markets.
• Resulting offering: New products and services and expansion into new markets.

Cloud Computing and E-Business

Cloud e-business refers to the combination of cloud computing and e-business practices. Both use the Internet and digital technology to support business processes. On one hand, e-business uses digital technology and the Internet to drive major business processes. On the other hand, cloud computing allows businesses and employees to have access to applications and IT infrastructure anywhere, anytime, and on any device.

Total Cost of Ownership and E-Business Terms

Total Cost of Ownership (TCO) analyzes direct and indirect costs. Hardware and software account for only about 20% of TCO. The other costs include installation, training, support, maintenance, infrastructure, downtime, space and energy.

Key e-business terms:

• E-business: The use of digital technology and the Internet to drive major business processes.
• E-commerce: A subset of e-business focused on buying and selling goods and services through the Internet.
• E-government: Using the Internet to deliver information and services to citizens, employers and businesses.

Web 2.0, Web 3.0 and the Semantic Web

Web 2.0 facilitates interactions between web users and sites, allowing users to interact more freely with each other. Web 2.0 encourages participation, collaboration and information sharing. Examples include YouTube, Facebook and Wikipedia.

Web 3.0 is commonly associated with the Semantic Web and the next generation of the web. In Web 3.0, systems can interpret information more like humans do; intelligent services generate and distribute useful content tailored to user needs. One example often cited is TiVo.

Business Process Management (BPM)

BPM is a set of methods, tools and technologies used to design, analyze and control operational business processes.

Functional goals include:

• Process effectiveness: Optimization and automation.
• Transparency: What you model is what you run; what you measure is what you manage.
• Communication and collaboration: Supporting rapid development and cross-functional teamwork.

Big Data, Management Levels and Disruptive Technology

1. The enormous volume of data generated by Internet activity, such as web traffic and e-mail, is referred to as big data. Senior management makes long-term strategic decisions about products and services, while middle management carries out the programs and plans of senior management. A disruptive technology is one that displaces an established technology and shakes up the industry.