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Modeling IoT and Big Data Implementation

As business entering industry 4.0, many emerging technologies have been evolved and utilized by many companies to promote their business performances. Several previous studies have shown lack of knowledge regarding to their implementation. From those studies, there are several factors that should be considered in the implementation including: 1) Business Process Improvement, 2) Marketing Strategies, 3) Business Management Innovation, 4) Business Models, 5) Organizational Culture, 6) Privacy and 7) Ethics. This paper is to propose a model in implementing IoT and Big Data for business performance. A survey is conducted among managers in manufacturing industry using purposive sampling with sample size of 51 managers. After conducting the survey, Smart PLS is used to observe if the developed model is accurate and robust. As expected, the Goodness of Fit (GoF) is 0.74 compared to required 0.67 and the model is said to be robust and accurate. Several findings can be gained including 1) Business Models & Organizational Culture positively influence Business Process Improvement while Privacy and Ethics negatively influence it, 2) Business Process Improvement positively influences Marketing Strategies, Business Management Innovation and Business Performance, and 3) Both Marketing Strategies and Business Management Innovation positively influence Business Performance.