Recent Development in Big Data Analytics for Business Operations and Risk Management
Journal
IEEE Transactions on Cybernetics
Journal Volume
47
Journal Issue
1
Pages
81-92
Date Issued
2017
Author(s)
Abstract
"Big data" is an emerging topic and has attracted the attention of many researchers and practitioners in industrial systems engineering and cybernetics. Big data analytics would definitely lead to valuable knowledge for many organizations. Business operations and risk management can be a beneficiary as there are many data collection channels in the related industrial systems (e.g., wireless sensor networks, Internet-based systems, etc.). Big data research, however, is still in its infancy. Its focus is rather unclear and related studies are not well amalgamated. This paper aims to present the challenges and opportunities of big data analytics in this unique application domain. Technological development and advances for industrial-based business systems, reliability and security of industrial systems, and their operational risk management are examined. Important areas for future research are also discussed and revealed. ? 2016 IEEE.
Subjects
Big data analytics; business intelligence (BI); operational risk analysis; operations management; systems reliability and security
Other Subjects
Information management; Reliability analysis; Risk analysis; Risk assessment; Risk management; Wireless sensor networks; Business operation; Data analytics; Industrial systems; Internet based system; Operational risk managements; Operational risks; Operations management; Technological development; Big data
Publisher
Institute of Electrical and Electronics Engineers Inc.
Type
journal article