Impact of IoT and Big Data Application to Business Performance

Many companies have promoted their business performances by applying emerging technologies. However, knowledge of their application impact on business performanceis still lack. Few factors are identified such as: 1) Business Process Improvement, 2) Marketing Strategies, 3) Business Management Innovation, 4) Business Models and Organizational Culture, and 5) Privacy and Ethics. This paperaims to develop model of applying IoT and Big Dataon business performance. Responses are solicited from 112 managers. Observation by Smart PLS3.0 is conducted on their responses with Goodness of Fit (GoF) 0.69 compared to required 0.38. Thus, the model is robust and accurate. Findings show that: 1) Business Model Innovation correlates with Business Performance (
$\mathrm{r}=0.368$
), 2) Business Model and Organization Culture does not correlate with Business Model Innovation, 3) Business Process Improvement correlates with Business Model Innovation (
$\mathrm{r}=0.674$
), 4) Business Process Improvement correlates with Marketing Strategies (
$\mathrm{r}=0.503$
), 5) Marketing Strategies correlates with Business Performance
$(\mathrm{r}=0.424),\ 6)$
Privacy and Ethics correlates with Marketing Strategies (
$\mathrm{r}=4.33$
).