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You searched Library Catalogue - Title: Business analysis / edited by Debra Paul, Donald Yeates and James Cadle
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Call Number (WOU)
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SP CEMBA 2018 39
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Author
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Ong, Chung Siang
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Title
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The impact of Internet of Things (IoT) to retail business. / Ong Chung Siang.
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Abstract
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The 21st century has been one of the most tremendously advanced eras of human civilization, especially in business operations. The arrival of the Internet of Things (IoT) in the society has transformed the way people interact with each other, communicate, trade, live and interaction with the environment. The mixture of emerging technologies and the internet such as Real-Time Localization, Virtual and Augmented Reality, Robotics, Artificial Intelligence, RFID, Sensors and Cameras has transformed ordinary things of yours into smart objects. These objects can recognize the changes in the environment and adapt to the changes or collect data for managerial purposes. The IoT is a new aspect which has revolutionized the world and driven the world into new levels such as mobile devices, sensor networks, cloud technologies and wireless communications. The digitalization of the normal way of live and the physical world is an influential aspect in the lives of people. Malaysia a country which is developing in terms of trade and commerce is tapping into the internet and advanced technologies for advancement of her economy. The IoT has had tremendous impact on the economy of Malaysia because it has become instrumental in manufacturing, distribution, refining and serving of goods and services. The development of IoT in Malaysia has created opportunities for retailers’ investment to increase customer experience, satisfaction, and ultimately increased sales. The objective of the paper is to explore the way IoT has impacted the retail business in Malaysia. It seeks to highlight aspects regarding the deployment of IoT in retail store, and why it is necessary whilst retailers are finding ways to increase sales and profits at the same time providing fun and excellent retail experience to customer.
In recent years, IoT has become influential in Malaysia’s retail business especially in the fashion and clothing, food and beverages, shopping, electronic and technological industry in refining customer experience, competitive advantage, and turnover. It will create tremendous impact on the retail industry in the country when retailers integrate and embrace the business model. It is significant to pursues, emphasize and discuss aspects which concern the approaches to deploy IoT in retail stores and how to go about it. However, the research faces restrictions of having limited access to retail entities in Malaysia even though IoT technology has been deployed beforehand. The research carries the assumption that all the information given by participants in the data collection process represents the actual details that occurs in the store with negative biased.
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Notes
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Final project report submitted in partial fulfilment of the requirements for the Degree of Master of Business Administration (CeMBA).
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Publisher/Year
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Penang : School of Business and Administration, Wawasan Open University, 2018.
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Subject
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Retail trade -- Malaysia.
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