BADM 350 Lecture 4Outline of Current Lecture I. Internet of ThingsII. Lecture NotesIII. Do you have too much IT?Internet of ThingsInternet of Things- low cost sensors, computing, and communication put embedded technology in everyday objects so that these products can communicate with each other- Used for data collection, analysis, and collective action- Automated blinds could close when the sun is hot- Lights could turn on when you’re not home- Cars can use sensors to start to drive themselves or help drivers prevent accidents- Chairs can be monitored so people know which seats are taken and who is sitting in them at any given timeLecture NotesOnly a minority (about 35-50%) of Chief Information Officers report to the CEOThe rest report to the CFO because IT is seen as a cost center that needs to be controlledDo you have too much IT?Many companies spend money on IT just because their competitors are doing it, but is all of that IT really paying off?Zara clothing stores utilize their IT systems while spending less to stay ahead of the competitionIt is able to constantly modify garments throughout the season unlike other clothing manufacturers that design everything almost a year in advanceLead time for a new garment can be as short as three weeksZara stores can’t communicate with one another or headquarters about their inventory at any point in timeZara does not use the latest IT used in many supply chainsThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.When aligned with business strategies and managed well, IT is beneficialProcess standardization and deployment, assurance of compliance, optimization, automation, monitoring, analysis, control reporting are all extremely difficult or impossible to attain without ITTechnology initiatives should begin from within based on business needComputerization should be standardized and targeted“IT is a critical component of thoughtful management- but is not a substitute for