Transforming Business Decision Making with Internet of Things (IoT) and Machine Learning (ML)

Disruptive technologies like Internet of Things, Machine learning, and Artificial Intelligence is gaining acceptance among businesses and individual as they realize its potential for driving business opportunities and revenue growth. Business owners really want to exploit advantages of these technologies and get essential inferences on their data, but they are not equipped with the right tools and people to leverage it. This paper is dedicated to enumerating and to present the recent challenges in adoption of these disruptive technologies in business processes. We have presented an architectural model of IoT & ML based application that can be integrated to various other enterprise applications for enabling real time data analytics, visibility and decision making. Few specific business applications of IoT & ML based applications in industries like manufacturing, pharmaceutical, and hospitality have been discussed briefly. Finally, we have listed out the major challenges and probable solutions.