Businesses within the logistics industry are looking for innovation that will offer faster, secure, and more efficient product movement and transportation services. The Internet of Things (IoT) and big data analytics have the potential to transform the entire logistics industry. The IoT is a system in which the physical world can communicate with computing technology (by exchanging information) with universal sensors ( Witkowski, 2017 ). Big data refers to large volumes of data or information at a given point and within a given scope. Big data analytics focuses the practice of applying innovative analytic skills such as predictive analysis, statistical analysis, and data mining to classify relationships, trends, and patterns from data ( Jin & Kim, 2018 ). Big data analytics and IoT will offer greater control and data-driven analytical insight needed to improve operational efficiencies and the overall performance of the logistics industry.
IoT and big data analytics have the potential to revolutionize the logistics industry. The advancement of IoT will bring a new level of real-time tracking and monitoring capacities that have never been witnessed in the logistics industry. The Internet of Things offers new prospects in the area of performance, which is critical to the development of the sector. For instance, road transportation trucks can be controlled automatically to the specification of a host, and this will allow them to function in predefined intervals with a standard to optimize fuel economy ( Witkowski, 2017 ). On the other hand, big data analytics unlock the goldmine of data, which would help enterprises in the industry to forecast possible outcomes through modeling various business decisions while also permitting them to unearth new prospects and eradicate decades of concealed inefficiencies. Big data analytics will result in business profits through operational efficiencies ( Jin & Kim, 2018 ). The integration of IoT and big data analytics will help transform the logistics industry.
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References
Jin, D. H., & Kim, H. J. (2018). Integrated Understanding of Big Data, Big Data Analysis, and Business Intelligence: A Case Study of Logistics . Sustainability, 10(10), 3778.
Witkowski, K. (2017). Internet of Things, Big Data, Industry 4.0–Innovative Solutions in Logistics and Supply Chains Management . Procedia Engineering, 182, 763-769.
