Overview of Future Skills

Unit 4 - BBA Semester 2

Simplified notes for first-year BBA students

This unit introduces fundamental emerging technologies that are reshaping modern business landscapes. As future
business professionals, understanding these technologies will give you a competitive edge in the digital economy.

Contents
1. Introduction to Internet of Things (IoT)
2. Big Data Analytics
3. Cloud Computing
4. Artificial Intelligence
5. Blockchain Technology
6. Virtual Reality
7. Social & Mobile Technologies
8. 3D Printing/Additive Manufacturing
9. Robotics Process Automation

 1. Introduction to Internet of Things (IoT)

What is IoT?
The Internet of Things (IoT) refers to the network of physical objects—"things"—that are embedded with sensors, software, and other
technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.

Key Components of IoT

Sensors/Devices Connectivity
Physical objects with sensors that collect and send data Networks that connect the devices (Wi-Fi, Bluetooth, cellular,
(temperature sensors, motion detectors, smart appliances, etc.)
etc.)

Data Processing User Interface

Software that analyzes the collected data to make it useful Applications that allow users to interact with and control the
IoT devices

Business Applications of IoT

Retail: Inventory tracking, automated checkout, personalized shopping experiences
Manufacturing: Equipment monitoring, predictive maintenance, automated quality control
Healthcare: Remote patient monitoring, medication management, hospital asset tracking
Agriculture: Smart farming, crop monitoring, livestock management
Smart Cities: Traffic management, energy efficiency, waste management

Business Benefits Challenges

Increased operational efficiency Security and privacy concerns
Better customer insights Implementation costs
Reduced maintenance costs Integration with existing systems
New revenue streams Data management
Enhanced decision-making Technical complexity

 2. Big Data Analytics

What is Big Data Analytics?
Big Data Analytics is the process of examining large and varied data sets to uncover hidden patterns, unknown correlations, market
trends, customer preferences, and other useful business information.

The 5 V's of Big Data

Volume Velocity Variety

The quantity of data (terabytes, The speed at which data is generated Different types of data (structured,
petabytes, etc.) and processed unstructured, semi-structured)

Veracity Value
The quality and accuracy of the data The business value generated from the
data

Simple Big Data Analytics Process

1. Data Collection: Gathering data from various sources
2. Data Processing: Cleaning and organizing the collected data
3. Data Analysis: Applying analytical techniques to find patterns
4. Data Visualization: Presenting insights in visual formats
5. Decision Making: Using insights to make business decisions
Business Applications

Customer Analytics Operational Analytics

Understanding customer behavior, preferences, and needs to Improving operational efficiency, supply chain management,
improve services and products and production processes

Financial Analytics Marketing Analytics

Risk assessment, fraud detection, and financial forecasting Campaign performance, market research, and customer
segmentation

Business Benefits Challenges

Improved decision-making Data privacy and security
Better customer insights Data quality issues
Increased operational efficiency Shortage of skilled analysts
Competitive advantage Technology integration
New revenue opportunities High implementation costs

 3. Cloud Computing
What is Cloud Computing?
Cloud computing is the delivery of computing services—including servers, storage, databases, networking, software, analytics, and
intelligence—over the Internet ("the cloud") to offer faster innovation, flexible resources, and economies of scale.
Types of Cloud Services

Infrastructure as a Service (IaaS) Platform as a Service (PaaS) Software as a Service (SaaS)

Provides virtualized computing Provides a platform allowing customers Delivers software applications over the
resources over the internet (servers, to develop, run, and manage internet, on-demand and typically on a
storage, networks) applications subscription basis
Example: Amazon Web Services (AWS), Example: Google App Engine, Heroku Example: Microsoft 365, Salesforce, Google
Microsoft Azure Workspace

Cloud Deployment Models

Public Cloud Private Cloud Hybrid Cloud

Computing services offered by third- Computing services used by a single Combination of public and private
party providers over the public organization, providing greater control clouds, allowing data and applications
Internet, available to anyone who and privacy to be shared between them
wants to use them

Business Applications of Cloud Computing

Data Storage and Backup: Secure storage of business data and disaster recovery
Business Applications: CRM, ERP, accounting software delivered as a service
Collaboration Tools: Shared documents, video conferencing, and project management
Website Hosting: Scalable resources for business websites and e-commerce
Data Analytics: Processing and analyzing large datasets

Business Benefits Challenges

Cost savings (reduced IT infrastructure) Data security concerns
Scalability and flexibility Internet dependency
Automatic software updates Limited customization (especially SaaS)
Disaster recovery capabilities Compliance issues in regulated industries
Remote work enablement Potential vendor lock-in

 4. Artificial Intelligence
What is Artificial Intelligence?
Artificial Intelligence (AI) refers to computer systems designed to mimic human intelligence and perform tasks that typically require
human intelligence, such as visual perception, speech recognition, decision-making, and language translation.
Key AI Concepts for Business

Machine Learning Natural Language Processing

Systems that can learn and improve from experience without Enables computers to understand, interpret, and generate
being explicitly programmed human language

Computer Vision Predictive Analytics

Allows computers to see, identify and process images similar Uses data, statistical algorithms, and machine learning to
to human vision identify future outcomes

Business Applications of AI
Customer Service: Chatbots and virtual assistants
Sales and Marketing: Personalized recommendations, customer segmentation
Finance: Fraud detection, algorithmic trading, risk assessment
HR: Resume screening, candidate matching
Operations: Predictive maintenance, inventory management
Healthcare: Diagnosis assistance, treatment recommendations

Business Benefits Challenges

Increased efficiency and productivity Ethical considerations
Enhanced customer experiences Implementation costs
Data-driven decision making Data quality requirements
Cost reduction through automation Workforce concerns and change management
New product and service development Interpretability ("black box" problem)

 5. Blockchain Technology
What is Blockchain?
Blockchain is a distributed, immutable ledger technology that securely records transactions across many computers. Once recorded, the
data in any block cannot be altered retroactively without altering all subsequent blocks.

Key Features of Blockchain

Decentralization Transparency Immutability

No single entity has control; network All transactions are visible to anyone Once recorded, data cannot be altered
participants collectively maintain the with access to the network or deleted
ledger

Security Consensus Smart Contracts

Cryptographic techniques ensure data Network participants agree on the Self-executing agreements with terms
integrity and security validity of transactions directly written into code

Business Applications Beyond Cryptocurrency

Supply Chain Management: Tracking goods from manufacturer to consumer
Financial Services: Cross-border payments, trade finance, identity verification
Healthcare: Secure sharing of patient records
Real Estate: Property records, ownership transfer
Intellectual Property: Copyright protection, royalty distribution
Voting Systems: Secure and transparent elections

Business Benefits Challenges

Increased transparency and trust Scalability limitations
Reduced fraud and counterfeiting Energy consumption (for some blockchain types)
Lower transaction costs Regulatory uncertainty
Improved traceability Integration with existing systems
Enhanced security Technical complexity

 6. Virtual Reality
What is Virtual Reality?
Virtual Reality (VR) is a computer-generated simulation of a three-dimensional environment that can be interacted with in a seemingly
real or physical way by a person using special electronic equipment, such as a headset with a screen or gloves with sensors.
Related Technologies

Virtual Reality (VR) Augmented Reality (AR) Mixed Reality (MR)

Completely immerses users in a digital Overlays digital content onto the real Blends real and virtual worlds where
environment world (like Pokémon GO) physical and digital objects co-exist
and interact

Business Applications of VR
Training and Education: Simulated environments for skills practice (medical procedures, equipment operation)
Product Design and Prototyping: Virtual product testing and refinement
Real Estate and Architecture: Virtual property tours and building visualization
Retail: Virtual showrooms and try-before-you-buy experiences
Tourism: Virtual destination tours
Healthcare: Pain management, physical therapy, mental health treatment

Business Benefits Challenges

Enhanced training effectiveness High equipment and development costs
Reduced development and prototyping costs Technical limitations (resolution, field of view)
Improved customer engagement User experience issues (motion sickness)
Expanded marketing capabilities Limited content availability
Remote collaboration opportunities Integration with business processes

 7. Social & Mobile Technologies

What are Social & Mobile Technologies?
Social and mobile technologies refer to digital platforms and devices that enable social interaction and provide access to information
and services through mobile devices. This includes social media platforms, mobile applications, and mobile-optimized websites.
Key Social Media Platforms for Business

Facebook/Instagram LinkedIn Twitter

Brand awareness, community building, Professional networking, B2B Real-time updates, customer service,
visual marketing marketing, talent recruitment trend monitoring

YouTube TikTok Pinterest

Video content marketing, tutorials, Short-form video content, reaching Visual discovery, product inspiration,
brand storytelling younger audiences e-commerce

Mobile Technology Trends

Mobile-First Design: Websites and applications designed primarily for mobile users
Mobile Payment Solutions: Digital wallets, contactless payments, mobile banking
Location-Based Services: Geotargeting, proximity marketing
Mobile Apps: Branded applications for enhanced customer engagement
Progressive Web Apps (PWAs): Web applications that function like native apps
5G Technology: Faster connectivity enabling new mobile experiences
Business Applications

Marketing and Brand Building Customer Service

Content marketing, influencer partnerships, social Social media customer support, mobile support apps,
advertising, brand awareness chatbots

E-commerce Internal Communication

Social selling, mobile shopping apps, in-app purchasing Mobile collaboration tools, enterprise social networks, remote
work enablement

Business Benefits Challenges

Increased customer engagement Managing online reputation
Enhanced brand visibility Platform algorithm changes
Direct communication channels Privacy and data protection
Valuable customer insights Content creation demands
Cost-effective marketing ROI measurement difficulties

 8. 3D Printing/Additive Manufacturing
What is 3D Printing?
3D printing (also known as additive manufacturing) is a process of creating three-dimensional objects from a digital file by adding
material layer by layer. Unlike traditional manufacturing that cuts away material (subtractive), 3D printing adds material only where
needed.
Basic 3D Printing Process
1. Design: Create a digital 3D model using computer-aided design (CAD) software
2. Preparation: Convert the design file to a format the printer can understand
3. Printing: The 3D printer builds the object layer by layer
4. Finishing: Remove the printed object and perform any necessary post-processing
Simple Classification of 3D Printing

Material Extrusion Light Polymerization

Material is pushed through a nozzle to create layers (most Uses light to solidify liquid materials into specific shapes
common consumer 3D printers)

Powder Bed Material Jetting

Uses a laser or binding agent to fuse powder materials Works like an inkjet printer but with materials that solidify
together

Business Applications
Prototyping: Quickly create product prototypes at lower cost
Custom Manufacturing: One-off or personalized products
Healthcare: Custom prosthetics, dental devices, anatomical models
Aerospace: Lightweight parts with complex geometries
Automotive: Prototype parts, custom components
Education: Hands-on learning tools
Architecture: 3D scale models of buildings and structures

Business Benefits Challenges

Faster product development cycles Initial investment costs
Cost-effective prototyping Limited material options
Design freedom and complexity Size constraints
On-demand manufacturing Production speed limitations
Reduced material waste Quality consistency
Localized production Intellectual property concerns

 9. Robotics Process Automation

What is Robotic Process Automation (RPA)?
Robotic Process Automation (RPA) is a form of business process automation technology that uses software robots (or "bots") to
perform repetitive, rule-based tasks by mimicking human interactions with digital systems. Unlike physical robots, RPA bots are
software programs that operate in the digital world.
How RPA Works
1. Process Identification: Identify repetitive, rule-based tasks suitable for automation
2. Bot Development: Create and configure software bots to perform these tasks
3. Deployment: Implement the bots into the workflow
4. Monitoring: Track bot performance and make adjustments as needed
Common RPA Applications in Business

Data Entry & Extraction Customer Service

Automating data input, copying data between systems, and Processing customer inquiries, handling simple requests, and
extracting information from documents updating customer information

Finance & Accounting HR Processes

Invoice processing, reconciliations, report generation, and Employee onboarding, payroll processing, and benefits
accounts payable/receivable administration

Supply Chain Management IT Operations

Order processing, inventory management, and shipment System monitoring, user access management, and routine
tracking maintenance tasks

Types of RPA Bots

Attended Bots Unattended Bots Hybrid Bots

Work alongside humans, assisting with Run automatically without human Combine features of both attended
tasks when triggered by a user intervention, often scheduled for and unattended bots
specific times

Business Benefits Challenges

Increased productivity and efficiency Process standardization requirements
Reduced operational costs Change management issues
Improved accuracy and reduced errors Security and access control concerns
Enhanced compliance and auditability Handling process exceptions
Better employee satisfaction (by eliminating mundane UI changes breaking automation
tasks) Employee concerns about job displacement
Fast implementation and ROI

Summary and Future Outlook

These emerging technologies are rapidly transforming the business landscape, creating both opportunities and challenges for
organizations across all industries. As future business professionals, understanding these technologies will help you:
Identify potential applications in your industry
Make informed decisions about technology investments
Understand the changing skills requirements in the digital workplace
Recognize how these technologies can create competitive advantages
Anticipate and adapt to technological disruption

Key Takeaways
These technologies are increasingly interconnected and often deployed together (e.g., IoT generates big data, which is
processed with AI, stored in the cloud, and secured with blockchain)
Focus on business applications and value rather than technical details
Consider both benefits and challenges when evaluating technology adoption
Technology implementation requires changes in processes, people, and organizational culture
Ongoing learning and adaptation are essential as these technologies continue to evolve

"The pace of technological change is not slowing down. The business leaders of tomorrow need to understand these technologies not
just as tools, but as drivers of strategic advantage and innovation."

Created for BBA Semester 2 students

Based on the syllabus of Advanced IT Skills course