IB Business Management Topic 5.9.6 Internet of Things Revision Notes (HL)

IB Business Management Topic 5.9.6 Internet of Things Revision Notes (HL) | RevisionDojo

Written by official IB examiners

Connecting Devices for Smarter Operations

Factories are filled with machines that communicate with each other to optimize production.
Some homes are too.
Think of appliances that adjust settings based on your preferences.
This is the power of a network of interconnected devices, often referred to as the Internet of Things ( IoT).

Definition

Internet of Things (IoT)

A network of interconnected devices that collect, share, and analyze data to automate processes and improve decision-making.

How IoT Works

1. Data Collection

Sensors in devices gather data, such as temperature, location, or usage patterns.
This data is then transmitted to a central system for analysis.

Example

A smart thermostat collects data on room temperature and occupancy to adjust heating or cooling automatically.

2. Data Sharing

Devices communicate with each other and with central systems through the internet or local networks.
This enables real-time updates and coordination.

Example

A smart irrigation system in agriculture can adjust water usage based on weather forecasts and soil moisture levels.

3. Data Analysis

Collected data is analyzed to identify patterns, trends, or anomalies.
This analysis supports informed decision-making and process optimization.

Tip

IoT systems often use cloud computing to store and process large volumes of data efficiently.

4. Automation and Action

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Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit

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Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit.

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

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Connecting Devices for Smarter Operations

Factories are filled with machines that communicate with each other to optimize production.
Some homes are too.
Think of appliances that adjust settings based on your preferences.
This is the power of a network of interconnected devices, often referred to as the Internet of Things ( IoT).

Definition

Internet of Things (IoT)

A network of interconnected devices that collect, share, and analyze data to automate processes and improve decision-making.

How IoT Works

1. Data Collection

Sensors in devices gather data, such as temperature, location, or usage patterns.
This data is then transmitted to a central system for analysis.

Example

A smart thermostat collects data on room temperature and occupancy to adjust heating or cooling automatically.

2. Data Sharing

Devices communicate with each other and with central systems through the internet or local networks.
This enables real-time updates and coordination.

Example

A smart irrigation system in agriculture can adjust water usage based on weather forecasts and soil moisture levels.

3. Data Analysis

Collected data is analyzed to identify patterns, trends, or anomalies.
This analysis supports informed decision-making and process optimization.

Tip

IoT systems often use cloud computing to store and process large volumes of data efficiently.

4. Automation and Action

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

IB Business Management 5.9.6 Internet of Things Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

Connecting Devices for Smarter Operations

How IoT Works

1. Data Collection

2. Data Sharing

3. Data Analysis

4. Automation and Action

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

Connecting Devices for Smarter Operations

How IoT Works

1. Data Collection

2. Data Sharing

3. Data Analysis

4. Automation and Action

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account