Showing papers in "Business & Information Systems Engineering in 2015"

Internet of Things - Technology and Value Added

Abstract: It has been next to impossible in the past months not to come across the term ‘‘Internet of Things’’ (IoT) one way or another. Especially the past year has seen a tremendous surge of interest in the Internet of Things. Consortia have been formed to define frameworks and standards for the IoT. Companies have started to introduce numerous IoTbased products and services. And a number of IoT-related acquisitions have been making the headlines, including, e.g., the prominent takeover of Nest by Google for $3.2 billion and the subsequent acquisitions of Dropcam by Nest and of SmartThings by Samsung. Politicians as well as practitioners increasingly acknowledge the Internet of Things as a real business opportunity, and estimates currently suggest that the IoT could grow into a market worth $7.1 trillion by 2020 (IDC 2014). While the term Internet of Things is now more and more broadly used, there is no common definition or understanding today of what the IoT actually encompasses. The origins of the term date back more than 15 years and have been attributed to the work of the Auto-ID Labs at the Massachusetts Institute of Technology (MIT) on networked radio-frequency identification (RFID) infrastructures (Atzori et al. 2010; Mattern and Floerkemeier 2010). Since then, visions for the Internet of Things have been further developed and extended beyond the scope of RFID technologies. The International Telecommunication Union (ITU) for instance now defines the Internet of Things as ‘‘a global infrastructure for the Information Society, enabling advanced services by interconnecting (physical and virtual) things based on, existing and evolving, interoperable information and communication technologies’’ (ITU 2012). At the same time, a multitude of alternative definitions has been proposed. Some of these definitions exhibit an emphasis on the things which become connected in the IoT. Other definitions focus on Internet-related aspects of the IoT, such as Internet protocols and network technology. And a third type centers on semantic challenges in the IoT relating to, e.g., the storage, search and organization of large volumes of information (Atzori et al. 2010). The fields of application for IoT technologies are as numerous as they are diverse, as IoT solutions are increasingly extending to virtually all areas of everyday. The most prominent areas of application include, e.g., the smart industry, where the development of intelligent production systems and connected production sites is often discussed under the heading of Industry 4.0. In the smart home or building area, intelligent thermostats and security systems are receiving a lot of attention, while smart energy applications focus on smart electricity, gas and water meters. Smart transport solutions include, e.g., vehicle fleet tracking and mobile ticketing, while in the smart health area, topics such as patients’ surveillance and chronic disease management are being addressed. And in the context of Accepted after one revision by Prof. Dr. Sinz.

Using Twitter to Predict the Stock Market: Where is the Mood Effect?

Abstract: Behavioral finance researchers have shown that the stock market can be driven by emotions of market participants In a number of recent studies mood levels have been extracted from Social Media applications in order to predict stock returns We try to replicate these findings by measuring the mood states on Twitter Our sample consists of roughly 100 million tweets that have been published in Germany between January, 2011 and November, 2013 In our first analysis we do not find a significant relationship between aggregate Twitter mood states and the stock market However, in further analyses we also consider mood contagion by integrating the number of Twitter followers into the analysis Our results show that it is necessary to consider the spread of mood states among Internet users Based on our results in the training period, we created a trading strategy for the German stock market Our portfolio increases by up to 36 percent within a six-month period after the consideration of transaction costs

Interview with Wolfgang Gaertner on Digitalization in Retail Banking: Differentiation and Standardization Through IT

Abstract: BISE: Mr. Gaertner, digitalization has massively impacted many industries in the recent years. Recent studies have also stressed the importance for the retail banking sector. What is your point of view? Gaertner: Financial advice becomes even more important in the digital age. Advice can go even beyond financial advice and does not have to be in person. This is why we are looking for new opportunities to offer products and services to our clients focusing on simplification and convenience by taking care of their financial and nonfinancial needs in daily life. A key differentiator among the competitors within the banking sector will be the client experience. Besides, brand strength has been and will be a key asset and differentiator, and strong brands will attract clients in the digital world. BISE: Historically, banks have followed a tailor-based software development approach emphasizing the importance of differentiation through individualized IT solutions. Recently, the potential of standardized product software has also been identified in the financial services industry. Do you leverage standard product software? If yes, why and where? Gaertner: First of all, we decided to use our own technology roadmap based on industry standards. For example, to date we have already achieved benefits in a double-digit million range per annum and reduced time to market by more than 70 % for the provision of infrastructure through our standardization of Database Servers on a private cloud solution. The usage of standard software is a vital part of our strategy. In the last decade, standardization of processes has been a major trend. Also driven by regulations and implementations of standards like SEPA in the financial industry, standard software is available especially for core banking and reporting systems. Deutsche Bank has a strategic partnership with SAP and is transforming the core systems for our retail banking platform in Germany including Deutsche Postbank. For client facing applications like online or mobile banking, we rely on proven industry standards and integrate standard products wherever they add value. However, the front end to the client is where we want to differentiate ourselves from the competition and where our different A. Madche (&) Chair of Information Systems IV and Institute for Enterprise Systems, University of Mannheim, Schloss, 68131 Mannheim, Germany e-mail: maedche@es.uni-mannheim.de

Teaching - The Little Brother of Research

Abstract: This editorial concludes a series of four editorials jointly authored by the current EiC team (Bichler, Heinzl and Winter) on quality, practice impact, internationalization, and finally teaching in BISE. Like the preceding two editorials, we reflect on developments in central Europe in the context of a progressing integration with our neighboring communities and disciplines. Why do we care about teaching in a scholarly journal, an outlet whose primary purpose is mostly perceived to be the presentation and discussion of high quality research?