IntroductionHow we live or how businesses operate now has

Introduction.

How we live or how businesses operate now has changed drastically to how people lived or

business operated decades ago. This is due to different industrial revolutions that have

occurred. The aim of this research is to investigate those different industrial revolution from

first to current together with the challenges that lead to the development of another.

Furthermore, describe the advancement of technology and implication on business, in terms

of decision making, focusing mostly on big data which is the vast amount of data that is

generated by different technology.

First Industrial Revolution(1IR).

First Industrial revolution was the process of change from an agrarian and handcrafted

economy to one dominated by industry and machine manufacturing. The process first took

part in Britain during the 18 century and then spread drastically across the world.

The main features involved in the first Industrial Revolution were technological,

socioeconomic and cultural. The technological changes included were the use of basic

materials, chief iron and steel, the use of new energy sources, including both fuels and motive

power, such as coal and the steam energy permitted increased production with a smaller

expenditure of human energy.

A new organisation of work known as the factory system, which entailed increased division

of labour and specialization of function, important developments in transport and

communication including the steam locomotive, steamship and radio. These technological

changes made possible a tremendously increased use of natural resources and the mass

production of manufactured goods.

Developments in the agricultural improvements also surfaced that made food easily

accessible for large non-agricultural population, economic changes that resulted in a wider

distribution of wealth, and the decline of land as a source of wealth in the face of rising

industrial production and the increased international trade.

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Political changes reflecting the

shift in economic power led to the growth of all cities belonging to a country. Workers

acquired new and distinctive skills and their relation to their task shifted instead of being

handymen and craftsmen they became machine operators.

Despite the industrialisation having so many benefits they were also some negative effects

that came along, exploitation of women and children, people working for long hours and the

environmental damages that were being done by burning fossil fuels. The use of the machines

that had been developed at the time were heavy for people to operate by human strength. A

lot of people struggled to work for a long time, and this resulted in people being physically

damaged and leaving the workforce at an early age. Transporting large quantity of goods was

a major problem because they had not been roads built yet to allow for smooth transportation

so spreading goods to a large population of people that were in the villages was always a

huge barrier. A lot of countries failed to adopt industrialization at an early stage because the

lack of literate and skilled people.

The introduction of Second Industrial Revolution was when the expansion of electric,

petroleum and steel started to replace the fossil fuels that had been in the first industrial

revolution. Many of the changes that occurred during this period had to do with new products

simply replacing old ones. For instance, during that time steel began to replace iron. Steel

was being utilized for construction projects, industrial machines, railroads and ships. Steel

production made it possible for rail lines to be built at competitive costs, which further spread

transportation. The creation of railway road allowed larger quantity and favourable quality

goods to be transported.

Second Industrial Revolution(2IR).

The Phase of hasty increase in the United States creating the late 1800’s was called The

Second Industrial Revolution which occurred during the years 1870 – 1914. The 2 nd Industrial

Revolution led to an extensive improvement from the first industrial revolution which in turn

resulted in industry which had machines run by electricity, personal machines and medical

improvement.

Most advances happened when new equipment started substituting the old ones, like steel that

replaced iron which was iron that had been heated using the Bessemer process which was

created by Henry Bessemer and made stronger by adding other metals. Transportation

escalated widely because of the manufacturing of steel which was used to make railway lines.

The use of oil as the power source was one of the technology advancements that happened

during this period and it was then improved by using electricity as the main source of light

and power, which then led to the creation of a light bulb by Thomas Edison and his team. He

then created the first power plant which was the source of electricity for most of the New

York buildings. Germany was the first to have a chemical breakthrough in 1840 when

Professor Justus Von Liebig published his “Organic Chemistry in Its Applications to

Agriculture and Physiology” which talked mostly about how to use chemicals in farming and

about the value of fertilizers.

The use of electricity changed the way people performed their daily duties which resulted in

workers working longer hours than usual. People who were not afraid to begin new business

ventures started their businesses as corporations and have stockholders invest in their

businesses, and the stockholders have advantages over the owners. The owners of these

businesses became rich by making very huge quantities of products. These industries had

consequences such as pollution, employees were underpaid, and they had to make even their

offspring to work. The working conditions were not safe, and they worked long hours. The

leaders believed that Darwin’s Survival of the fittest theory was the one to choose that which

individuals prosper in the business industry and which ones will have to work for others, the

theory is called Social Darwinism. These methods forced people to fight against them and

bring about social change in the community which led to another industrial revolution.

Third Industrial Revolution(3IR).

Third Industrial Revolution(TIR) known as digital revolution, it deals with the development

of computers since the 20 th century. Fourth industrial revolution develops out of the TIR but

then is considered as a new era of its development. TIR began with the development of

Advanced Research Projects Agency Network(ARPANET) and it was the first network to

implement the protocol suite TCP/IP. ARPANET had two main goals to allow scientists at

different physical locations to share information and work together, the last one is to function

even if part of the network were disabled or destroyed by a disaster.

Third Industrial Revolution(TIR) is driven mainly by technology advances in manufacturing,

distribution and energy factors, it is characterised by the internet, communication,

technologies and the digitization of everything. TIR it is set to change the way people work,

produce and entertain. It will fundamentally change the way people plan and manage cities

and regions, while leading to the glocalization of production and the offshoring of jobs.

Manufacturing goes digitally, it will allow things to be made economically in smaller

numbers and with a much lower input of labour. (Markille, R).

After such a long time of decline since first oil(1973) growth rates of the economy have

increased since the 1990s. A significant challenge of the TIR for all societies is will it create

jobs? A very huge challenge for many developed economies, TIR will significantly reduce

job opportunities for unskilled people. TIR will be a challenge to the planning and

development professions, government, business and communities. TIR is seen by many as a

threat to future employment and local business. (Maekille, P. 2012).

TIR includes a shift to green buildings, electric cars and distributed manufacturing. New

digital manufacturing revolutions gives opportunities the production of durable goods. In TIR

everyone can potentially produce their own manufacturer. More and more vehicles are going

electric, which reduces the chances of global warming. People are switching to public

transport the likes of electric trains because they are faster and reliable to use.(Jeremy R).

TIR changed how we communicate since it was introduced the number of people that are

using has increased, people can communicate with people that they have never met, that is

the power of the internet. Internet allows us to have access to the information that we

couldn’t have ever accessed before the existence of TIR and it is free which makes the

education the most powerful tool, with the internet people can access videos of tutorials.

Many people no longer buy goods and services from traditionally stores. In fact they

purchase them online. TIR is different from the other two which are first industrial and

second industrial. TIR is different from them because of one thing which is

automation.(Steven, E)

Fourth industrial revolution(4IR).

The fourth industrial revolution is the current era of time in which the way we live is

changing due to technologies such as Internet of Things(IoT),robotics,virtual reality,Big

Data,Machine-To-Machine(M2M) and Artificial intelligence(AI),Blockchain and Cloud

computing.In the corporate field,the aim of of 4IR is to make humans human

workers(Accenture,2019).

Technologies such as robotics are built to to do the repetitive tasks that humans do on their

daily job,this results in more time for humans to focus on new and innovative

ways(Accenture,2019).Human+ is the collaboration between humans and

technology.Although this collaboration creates a lot of opportunities,it still imposes some

challenges such as change in the working place.With human+,workers need to gain technical

skills in order to remain competent,some workers fear that with robotics doing some of their

work this will results in the wages or salaries being cut.

The second technology is the Internet of Things(IoT),it can be defined as the enabled

capabilities when physical objects are connected to the internet.This connect include

appliances,machines,devices and other industrial environments.An example of how

manufactures use IoT is at the United Kingdom where the manufacture wirelessly powers a

wireless temperature for remote temperature measurements in the plant(Turban ,E et al,2015).

The value that was brought by IoT is the possibility it provides to process and analyze a

larger valuable information flows production and auxiliary processes to enable companies

operate flexible and innovative ways(Bloem ,J et al,2014).

Despite all the capabilities brought by IoT,challenges also exist.”Keeping special networks

up,including the hardware needed them to communicate with internet,costs much time,money

and manpower”(Bloem ,J et al,2014).Another technology is virtual reality.According to

Siegrist et al(2019),virtual reality is a condition in which a user experience and interact with a

computer generated environment.The virtual environment is generated by the computer using

information captured by sensors that capture the users action.”… it is possible for a user in

virtual reality to explore a virtual shop by walking,grasping a virtual apple from a virtual

shelf”(Siegrist ,M ,2019).

Enterprises are investing to VR.The reason behind it is that it facilitates experimental studies

that would have challenging or very expensive to conduct in real environments(Siegrist ,M

,2019). For instance the virtual shop,it was used to examine how food prices affect purchase

behavior towards customers.

Artificial intelligence is the ability for machines to act like humans.In addition,the machines

are not programmed line by line but have the capability of learning therefore continuously

developing itself(Helibing ,D ,2017).AI has changed fields like safety,new models cars are

able to park without a driver,browsers can filter your recommendations according to your

interest but it also imposes some challenges to the society.According to Prof

Mazrwala(2018),those challenges include bounded freedom(we are being watched),increase

inequality,new economic theories and etc. Furthermore ,people are scared that they might

lose their jobs to machines.

Some of the technologies such as mobile devices and M2M sensors embedded in everything

from airport runways to casino chips,social content from texts,tweets,posts and

blogs,clickstream data from web and internet all generate a vast amount of data called Big

data(Turban ,E et al,2015).Furthermore ,photos from retail and user -generated

content,financial,medical,research and Business to Business(B2B) transaction also contribute

to Big data.

A large portion of Big Data ,80% to 90% is unstructured meaning it is raw data with an

unpredictable format(Turban E et al,2015).This resulted to a high demand for data scientists

to organize the data in an understandable and presentable way.The data that is

organized,filtered for errors and patterns created is stored in a Data warehouse for decision

making.The reason behind the data stored in a data warehouse is that data in a database is

volatile as it changes frequently but data in data warehouse is constant and standardized.

Decisions are then made based on the data stored in the data warehouse. For competitive

advantage(Provort ,F & Fawcett T,2013).

Big data is changing the way governments, organizations, and academic institutions conduct

business and make discoveries, and its changing how everyone lives their day-to-day lives,

especially in the developed countries.

The world now holds twice as many bytes of data as there are litres of water in all its oceans.

By learning to surf this wave of big data, it is possible to replace hunches with insight; to spot

trends before they pass quickly by; and to take action while others are still deliberating. Big

data is the term increasingly used to describe the process of applying serious computing

power – the latest in machine learning and artificial intelligence – to seriously massive and

often highly complex sets of information.

The advances big data brought can be comparing utility costs with meteorological data to

spot trends and inefficiencies. Big data can be comparing ambulance GPS information with

hospital records on patient outcomes to determine the correlation between response time and

survival. But big data can also be the tiny device you wear to track your movement, calories

and sleep to track your own personal health and fitness. A hospital uses rapid gene

sequencing to stop an outbreak of antibiotic resistant bacteria, saving lives. A railroad

company gets an alert from a train’s sensor that a preventative fix is needed, saving the cost

and time of removing the train from the tracks later. A university notices a student’s activity

level has started to drop to a level consistent with dropouts and reaches out to assist.

Our daily lives generate an enormous collection of data, Weather you’re surfing the Web,

shopping at the store, driving your smart car around town, boarding an airplane, visiting a

doctor, attending class at university, each day you are generating a variety of data. The

benefit of the data depends on where and to whom you’re talking to. A lot of the ultimate

potential is in the ability to discover potential connections, and to predict potential outcomes

in a way that wasn’t possible before. With more data than ever available in digital form,

progressively inexpensive data storage, and more advanced computers at the ready to help

process and analyse it all.

Advancements in machine intelligence have made for increasingly clever algorithms that can

be used to process, compare and visualize this rising tide of structured and unstructured data

and housing those vast stores of data is now more affordable than ever – three decades ago a

terabyte of data storage could cost millions. Today, it’s about US$30.

One challenge of big data can simply be managing its sheer size. Storing, searching,

analysing, comparing, refining, combining, visualizing – massive sets of data can be a

challenge to traditional database software. That’s where database and business intelligence

tools such as Microsoft SQL Server, Windows Server, PowerPivot, Microsoft Office and

SharePoint come in handy.

Another challenge in making big data useful is getting your hands on the right big data both

structured and unstructured. Structured data, most universally found in databases that use

Structured Query Language (SQL), is organized in a way that lets users select exact pieces,

rows or columns of that database. Unstructured data, however, has no such architecture and

can often include text or images.

In the corporate world businesses that successfully harness the power of big data will

outperform and outcompete competitors. That’s not only about making more money in the

near term, that’s survival. In an increasingly competitive global marketplace, you must do

everything you can to stay ahead of the competition. If you don’t harness the data and

information around you to make better decisions and become more efficient, you fall behind.

That’s true of companies, governments, healthcare, and any industry. That’s why it’s so

critical.

CONCLUSION.

Revolutionary phenomena may seriously affecting society and economy. The evolution of

industrialization has changed the way people live life, communicate and go on about their

day to day routines. A large number of the world’s population today has access to everyday

necessities that were virtually impossible to obtain centuries ago, about 70% of earth’s

population use social media platforms to connect, learn, purchase goods and services and

change information. Producers or competitors have a high access to digital platforms of

research and development, they run businesses online, marketing, sales and distribution.

Trade and industries have developed enormously, more money and profits generated by

capitalism market, national wealth have increased, people sought for comfortable lifestyle

eventually standard of living improved. The effect of early industrialisation can be seen today

establishment of urbanisation, flourishing towns and cities around the world. Business have

even been forced to change their business model to sustain in the ever-growing industries and

to keep their market share.

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IntroductionHow we live or how businesses operate now has. (2019, Dec 11). Retrieved from http://paperap.com/introductionhow-we-live-or-how-businesses-operate-now-has-best-essay/

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