Final Assessment on “BIG DATA”

Submitted to: Fahmida Akhter

Course Code: ACT 406
Course Title: Advanced Cost Accounting

Submitted by
Fouzia Chowdhury 183002302
Maria Chowdhury Sara 163002702
Sherajum Meher 173002402
Naimur Rahman Shajid 191009102
Table of Contents
Introduction…………………………………………………………………………...........2
Problem Statement………………………………………………………………………....3
Objective of Research……………………………………………………………..……….3
Methodology:……………………………………………………………………………….3
Literature Review…………………………………………………………………..............4
Sustainability……………………………………………………………………………….4
Importance of sustainability in Manufacturing sector……………………………………...5
Industry Revolution 4.0………………………………………………………………….…6
Circular Economy ………………………………………………………………………….7
Why it is important to ensure sustainability in industry 4.0 through circular economy……9
Types of Big Data …………………………………………………………………………10
Big Data Role in Industry 4.0 and circular economy:……………………………………...10
Recommendation: …………………………………………………………………………11
Conclusion:…………………………………………………………………………………13
References………………………………………………………………………………….14
Job Roster ……………………………………………………………………………...….16.

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Introduction

Technology was the most critical topic during the industrial revolution. For the human aspect,
the connection between the environment and technical progress, and the building in society, the
OECD, and circular economic plans have increased importance. The goal of this thesis was to
explore the economic and community progress position of human society. The economic model,
which is currently known as the CE, is designed to leverage the energy and reuse waste to
generate goods and services for mass consumption. In order to enhance the productive life of
goods and services, a CE model aims at the reduction of demand and pollution of resource and
waste while also achieving environmental friendliness and optimization of energy from various
sources. This paradigm is based on the same evolution in nature in modern times with a great
effect on the application of technology. While CE has been recorded since the start of the
twentieth century, it has been documented only recently that we find a large number of literary
works evaluating its relationship with industry.

There is a good experience and theoretical significance in the study of the interconnection of
persons, technology, and services as an industrial driver and opportunity that has raised social
consciousness of technical impact, decreased the loss of ecological resources, and pushed
growing industries towards profitability. In the form of CE, Luque suggested the holonic system.
The combined CE and I4.0 and their professional qualifications and abilities. The results and our
study of the synergy between CE and I4.0 are discussed in the next part of the report.

The study agrees that CE models mostly aim to design and manufacture waste reduction goods
and services, supplemented by digital technology that can facilitate the production of these
products and that are currently part of the I4.0 definition. The near relationship between
environmental sustainability and sustainable growth, which is framed as CE values and I4.0, has
thus been highlighted in various studies in the literature.

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Problem Statement:

The Rajput and Singh approached, in this respect, the paradigm for reducing, reusing, recycling
(3R) used to promote the transition from linear to circular supply chains based on CE and using
emerging technology (I4.0) to encourage innovative and inclusive progress in technology. An
organization, on the other hand, was employed to validate the implementation of the hybrid
methodology developed using I4.0 and CE as the guidelines for the problems facing supply
chains. During the production process, it's not uncommon to see multiple similar machines
working in tandem to complete the same task. There are typically many sub-processes in this
work. Since several related structures and procedures have ample direct funding, it is believed
that by recording the state data from appropriate run-to-failure instruments, the unplanned loss of
equivalent or similar equipment can be forecast before equipment fails. The amounts of cadmium
in the ash, however, will cause environmental issues.Few experiments have concentrated on the
societal impacts and personal growth of the CE and its developmental relationship to I4.0, which
is related to the fields of implementation of certain industrial concepts of production. As a result,
we want to use run-to-failure devices to anticipate unplanned inacticity or CE of operating
devices.

Objective of Research:

The goal of this systematic analysis is to summarize, analyze and classify possible future
research opportunities in that field of existing data-driven approaches for the circulatory
economy in digital manufacturing. A structure that intersects with the purpose is built from the
holes present in the literature. To the best of the researcher's experience, no report sums up the
main findings in this field and does not build a structure from the key findings.

Methodology:

CE is based on a scrambled array of theories culled from a variety of scientific disciplines,

including new sectors and semi scientific principles. According to (May et al., 2016), the
scholarly study is organized in a literary analysis piece, either as a separate piece or as a
composition of the research pieces, with an examination of the findings. The method of

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analyzing massive data set that include a multitude of types of data is known as big data
analytics. Its main purpose is to assist an enterprise in making more effective investment
decisions by reviewing vast amounts of data information as well as many other amount of
information that are often overlooked by traditional Business Intelligence systems. As it is
collected from secondary data In order to identify and explain the selection of research
architecture, goals, and methodology, a literature review is critical (Hart, 1998). (Fink, 2005)
deals with literature review as the most important way to identifying and assessing the key
sections of a particular study area in practice. Although some of those methods have made
significant contributions to sustainability research, their relationship to the latest common
definition of CE is hazy and challenging to grasp. Accordingly (Tranfield, Denyer, and Smart,
2003), a literary analysis was conducted in order to study, analyze and evaluate the information
in references, establish current expertise in a specific field, and recognize potential research
holes. For this report, the literature review aims to create a foundation from the research holes.

Literature Review:

Sustainability:

As stated by the 2010 UNEP survey, electronic wastes from ancient computers developed in
India will increase to 500 percent, nearly 18 times more from discarded cell phones, from
television it can range from ~1,5 to 2 times higher. The report Research shows that by 2025, e-
waste volume would reach nearly two million tons 2025, given the pace of growth.

The 2017 research "E-Waste management and its consequences: a literature review" by Prof.
Arnav Chowdhury and Prof. Jitendra Patel highlights hazardous waste and its effect on health.
The study highlights wastes. The same is presented in the table, which emphasizes the need to
develop a sustainable waste management strategy.

According to the 2011 "Ghana E-Waste Country Assessment," 215 thousand tons of electronics
were purchased from Ghana, of which 70% used and the other 30% brand new. The paper
summarized that 15% were either dumped or scraped, instead of reclaimed or reused, of the
remainder of the product proportion used.

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In Sukeshini Jadhav; Electronic waste: a growing problem for sustainability in today's world
(2013), it was observed that good e-waste management helps efficient procurement and supply of
goods to be extracted and expelled, thus ensuring that e-waste becomes valuable and industry.
The manufacturers must accept responsibility for comprehension of the soundness rule and
environmental management should be the key factors to promote reuse and recycling from the
initial level, such as that of raw material choice, product, and cycles. The producer could also
attempt to launch a replacement program, in order to address depletion, with the aim of allowing
proper administration and e-waste expulsion. A 60% e-waste industry that closes its size will
finance a huge amount of the collection and construction of safe e-waste networks through e-
waste management.

A paper entitled "Electronic waste generation and its management in the suburbs of Bole and
Akaki Kaliti in Addis Ababa Ethiopia" was published by Binegde et al. in 2015 and shows that
the areas involved have electronic repair stores which play an important role in extending the
product life cycle and thus lead to a reduction of electronic products that have been thrown away.
The paper also shows that the high maintenance cost of the device, and the accessibility of
modern electronic goods with relatively cheaper functionality, draw customers into a consumable
society, contributing to the collection of outdated products. For sustainable sustainability,
strengthening the formal recycling of e-waste is crucial.

Importance of sustainability in the Manufacturing sector

Based on the papers examined, the authors adhere to the correlation between CE and I4.0
because they are mutually dependent on one another in order to ensure the transformation from a
linear to a circular model in order to ensure sustainable supply chains. In our study, we find
relatively little research dealing with the influence of CE on culture and the mechanisms used to
assess the impact of CE on individuals. Actually, only three trials were completed. The first was
based on ideas based on the CE values in order to foster a collaborative model of the healthcare
supply chain which involves people and community to shift attention from customer to co-
creator as a result of the COVID‐19 crisis.

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In the second report, Cosimato et al.' stated that the main component for circular sustainable
development may be the person, communities, or global happiness. These authors suggest, in
order to support this theoretically based analysis, a case study that highlights the approach taken
by a particular Italian prison group both in the present and in future to individual and collective
feasibility issues. The third study explored the potential relationship between age and knowledge
of the 4.0 definition of Industry, taking into account fundamental skills and capacities which
require using modern technologies and anticipating future technological changes as threats.

The following elements must be considered in order to assess market maturity 3.0 and to
transition into industry 4.0 on the basis of the circular economy: decentralization,
interoperability, adaptation to developments, real-time operating capacity, virtualization, and
service orientation.

.Industry Revolution 4.0

Industry 4.0, also known as the technical revolution, comprises the major comprehensive
technological component in computational work, big data, industrial (robotics), modeling,
convergence networks, the internet of things (IoT), cybersecurity, cloud-based computing,
additive manufacturing, and increased science. As a definition, I4.0 integrates the ICTs with the
production and processing processes. The outline of how I4.0 incorporates major developments.

As the name implies, the fourth level of Industrialization is Industry 4.0. Industry 4.0 seeks to
automate the entire production chain via advanced information and communications technologies
(ICTs). The technical progress accomplished by the Fourth Industrial Revolution has contributed
practically in two ways to the creative manufacturing transition. The first is to promote the
revision and reconciliation of efficiently developed enterprises. The extensive use of new
technologies enables the smart development of companies and accelerates the auxiliary revision
and reconstruction of global manufacturing chains. New technology technologies are being
implemented with the infiltration and combination of new developments in different companies.
The fast growth for the new energy industry has been catalyzed, for instance, by exploring
lithium batteries and recharging heaps.

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Often new leaders collaborate for corporate departments, such that fruitful uses of Industry 4.0
are not limited to explicit countries or local authorities. Industry 4.0 has 4 key values as the
basis:

Interoperability

This is the machines' ability to connect to each other and to talk to people on the internet.

Transparency of data

This principle includes an information infrastructure in which physical data from sensors to
digital data are collected, converted, and analyzed. It seeks to narrow the distance between
virtual and physical environments.

Technical support

The method should be able to support citizens by conglomerating, examining, and presenting
data to make informed decisions by means of technical assistance. It should concentrate on
reducing human response to long-term and repeated activities.

Decentralized decision-making

This theory allows systems to take actions individually and to fulfill their purpose independently
to the extent practicable. The role must be assigned to a higher level in the event of exceptions or
overlapping objectives. The Cyber-Physical System (CPS) managed and supervised by the
computer-based algorithm is constructed using the above-mentioned concepts. It connects
software and physical devices with different sensors and communicates transmitted data through
the whole device.

Circular Economy

The circular economy is a reborn architecture structure. It works on decoupling economic

development and thus benefiting humanity from the limited natural capital. The input, waste
generation, pollution, and energy necessary for producing products and services are kept to a

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minimum. The concepts of reduction, recycling, reuse, remanufacture and renovation allow it to
be achieved. In comparison to the conventional linear economy (manufacturing, using, disposing
of), the circular economy makes the most use of energy and then retrieves and reproduces goods
and materials at their lifecycle.

Circular economics paves the way for sustainability since it guarantees customer quality of
living, should not include businesses losing their income or additional capital while protecting
the environment.

According to Ellen MacArthur , Circular Economics is based on three values: firstly, the
utilization of resources, secondly, the product's nature and quality standards should be aimed at
extending the product's life cycle. Third, the organization should close the loop with reverse
logistics and increase usage through reuse, remanufacturing, and recycling over many lifecycles.

In the context of China's economic development in the 1990s and the limited natural resources
available to generate goods and services, the idea of CE became common. The research
undertaken at the time at the CE found that the social dimensions and viability of production
processes were missing. The argument for CE's fulfillment of the three foundations of
sustainability from the social viewpoint is actually lacking in clarity. The Ellen MacArthur
Foundation has provided a strong definition of CE, which describes CE as a "recovery and
regenerative mechanism by means of designs" aimed at maintaining the optimal benefit and
usefulness of the goods, components, and materials.

For its part, Rajput and Singh stated that CE is configured as a closed, restore- and regenerative
supply chain, implying the conceptualization of the system at the industrial level within the end-
of-life or lifespan of products and services, eliminating toxic matter and recycling and waste by
the explicit implementation of design models, The aim of CE is to increase capital efficiency and
maximize environmental outcomes as far as the supply chain is concerned. Furthermore, CE uses
an economic model designed to minimize resource use to focus on intelligent use. CE models are
the transformation to a closed circular model based on a classic free linear economical model
which has a positive and balanced economic, environmental and social impact.

The corporate transformation to CE is advancing, indicating that linear and circular structures
still exist. Linear economic models have a focus on the remaining production chains in which

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raw materials are now wasted. Studies of the factors connected with linear economies have
shown that they are unsustainable and the urgent need to follow a new model of paradigm-
shifting to promote the required transformation to a CE.

Why it is important to ensure sustainability in industry 4.0 through the circular

economy:
The emphasis in this study was on CE by sustainability and technical implementations of I4.0 in
all articles. The top three subjects for CE included sustainability (SUS), 23 articles; 10 papers on
supply chain management (SCM), and 11 business models (BM). With the exception of the
United States, both countries had corresponding documents on SUS with figures between 13%
and 43%, such as Spain. India, the United States, and South Africa led by 25% to 45% of their
combined studies in percentages of papers on SCM. Finally, there have been much higher
numbers of articles on BM in Brazil, South Africa, and France, from 25% to 27%. The subject of
I4.0 was IOT with 17 articles, on the other hand. Fewer similar papers were available for other
I4.0 subjects. This demonstrates that the experiments have some methods to CE while selecting a
more different collection of I4.0 techniques.

With reference to the topic of people and community (PS), we found that some of the latest
research work on how CE affects individuals specifically and how they can brace themselves for
the adjustment that is needed as a result of continuous transformation from linear models to
circular economic ones. Table 3 illustrates the relationship between the subjects of SCM,
technical progress (TE), manufacturing (MAN), SUS, and PS as the key themes for each of the
various chosen research trials. These problems in turn are contrasting with the technology
provided for in I4.0 to define the CE-I4.0 relationship mentioned in each article.

The study showed that CE is mostly supporting the transformation of the linear-to-circular
paradigm that can promote biodiversity or sustainable economic growth using IoT and Big data
(BD) as the key I4.0 technologies.

Rosa et al. outlined in their literature review the generic interpretation of documents dealing with
the relationship between CE and I4.0. The authors have argued here that any company
undertaking a transformation from the linear to the circulatory economy must evolve technology
through I4.0.

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Okorie et al. listed an increasing trend in CE and I4.0 publications, particularly in 2012–2018, in
their analysis of literature. In engineering and computer technology, at the time, the US and
China led the study. Kerin and Pham have regarded IoT and AR as the technology needed for
manufacturing on the basis of their own literary analysis.
Types of Big data

 Structured data: it is data that can be collected, retrieved, and interpreted in a

predetermined format. It also applies to highly ordered data that can be processed and
retrieved from a database with ease using basic web analytics. The employee table in a
corporate database, for example, would be designed to provide information about the
employees, such as their names, work titles, and wages.
 Unstructured data : It refers to collection of information and data that isn't organized or
structured in any way. Unstructured data presents a number of difficulties in terms of
analyzing and extracting meaning from it. A heterogeneous data base containing a mix of
basic images, text files, videos, and other types of unstructured data is an illustration of
unstructured data.
 Semi structured data : It applies to data that hasn't been categorized into a database but
also includes important information or marks that separate individual items within the
data.

Big Data Role in Industry 4.0 and circular economy:

Large data is a series of technological instruments designed to record, archive, organize, process
and interpret a wide range of data and high volumes. Big data have been developed since the
traditional methods have collapsed in a feasible timeframe and help the development phase,
supply and demand, distribution, communications, and the recognition of products (sensors and
bar codes) and so on by implementing IoT.

With the help of the emerging technology Industry, 4.0 is being introduced. The main
technologies used to successfully implement Industry 4.0 are large-scale applications, Artificial
Intelligence (AI) robotics, the Internet of Things (IoT) cloud, and 3D printing. Here, the report
needs to talk about the big data opportunities for Industry 4.0. The primary aim of this

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technology is to capture the correct data in the production and other services needed to resolve
the related problem. In this fourth industrial revolution, this technology plays an important part.
Big data systems are ultimately useful for managing processes and enhancing efficiency in the
automation field. The knowledge obtained using this technology can quickly be adapted for
complex driver systems and intelligent sensors. Big data is essential to achieve a strategic leap by
the recognition in the manufacture of basic problems such as method anomalies, cost
discrimination, and the waste of energy efficiency. The research analyzes the major uses of big
data in industry 4.0. Industries must provide an enormously technological or customized
approach in order to have a proper monitoring mechanism to make Big Data a valuable source of
prediction for forecasting and operational management dependent on statistical data or
knowledge about the industry. Big data will further advance Industry 4.0 in the coming days and
will play an efficient part in its fruitful implementation.

Circular Economy (CE) discussion is constantly on the strategic agenda of government bodies
and general pressure groups or their own vision for a prosperous future. Partly because of the
increasing likelihood of conversion in new technology such as large data and the Internet of
Things, which are mostly exploited by Industry 4.0. The first theoretical CE propositions have
been turned into actual commercially feasible initiatives. IT managers have been called upon, but
the structural infrastructure with the requisite IT capacity, to allow this movement still lacks, to
include technological programs in their strategic strategies to help their organization adapt to the
EC. The first step down this road is the subject of this report. The thesis was focused on a
comprehensible literary examination with the use of the mathematical method "R," gray
literature, and expert insights from 30 papers from Scopus and WoS which were triangulated,
checked, and accompanied by content analysis. The key results are a list of 39 capacities grouped
into 6 basic CE values to be used as a diagnostic tool that enables companies to assess their
technical shortcomings and schedule their IT commitment in support of the CE transformation.

Recommendation:

 Missing understanding of the life cycle

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During use, products undergo many forms of wear, degradation, and maltreatment. Different
rework steps can be required for each unit of the same commodity. Product architecture should
then be such that only necessary changes can be carried out by firms to make the product usable.

To be possible, consideration must be taken right from the design process of the product for
recycling, reuse, or renovation. By considering recycling as one of the criteria, the whole life
cycle of the product should be planned. less complex in order to permit restoration.

For example, uniform parts should be used in disassembly, modular design. Concepts like
Remanufacturing Design, Recycling Design are currently in strong need of deployment, and only
remain in the academic study field.

 Shortage of adequate consumer demand and key supply

Items that are generally renovated or reconstructed shall be considered to be a bad product or
second-hand. The buyer also expects to sell it at a much lower price than new models. In
particular, the consistency and the expense of a product that is intended to be reproduced or
renovated are as high as the first cycle of that product.

"Core" is used for the recycling, refurbishing, or restoration of items. There is a lack of
systematic structures to recollect the heart when it is ready for renovation or restoration. In
general, the consumer uses the commodity for a long time and scraps it whether it is impossible
or expensive to reprocess . It needs a circular,

 Information distribution desert and lack of knowledge/technology

The harm level, wear and tear, trends of use with various consumers face a commodity. The
method also involves ad hoc engineering, which requires professional and technically sound
manufacturers and modular rework systems. It is often very appropriate, based on requirements,
to sort the cores and make necessary changes and changes in all the units.

We need knowledge about user habits, upgrades, servicing, energy use, and so forth in order to
design tailored processes for each device. This knowledge is also needed to understand the
suitable time for reprocessing in the product life cycle. These data are not gathered by existing
programs for the procedure unlikely to be remanufactured and renovated.

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  Standard legislation inadequate

Because of the lack of uniform regulations for companies in the circular economy, there are
some threats in the circular economy. Import restrictions on renovated goods and foreign reverse
logistics are an obstacle to the realization of

Economy Circular. Although this obstacle is very critical, this research paper does not provide a
solution to overcoming this hurdle.

 Cultural Barrier Enterprise

Cultural frontiers are increasing in contrast to very convincing departments such as finance and
businesses as the principal barrier for the transition into a circular economy because discussions
are mostly limited to a firm's CSR/environment Departments.

So Circular Economics in various organizations is a niche discussion. Change in customer views

often limits the receipt of CE to organizations, as the course of action of the company that
decides on the supply of sustainable products – "things which last more than a trend in fashion"
are constantly undermined.

Defeat this culture as a hindrance and face functioning as a hindrance in a linear economy. In the
case of a circular supply chain, a company can transmit a circular commodity. In all events it is
hard for some organizations because they are more often than not left with a rather conservative
supply chain, to discover organizations that are also easy to understand the circular economy.

Conclusion:

While Circular Economy was seen as a recent phenomenon in the literature review, its core
concepts and processes can be found in earlier technology-oriented sustainability theories. In
Circular Economy, concepts of blue economy and natural capitalism are used and reinterpreted,
focusing more deeply on business tactics and reverse cycle tools. It can also be said that, as the
Blue Economy, CE is not a completely new paradigm but a blend and revisit of earlier views of
technological science sources, highlighting the importance of machine technologies in a
transition to sustainable growth.

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The scope of this article is within the scope of the full study of the benefits, limits, and
unintentional effects of the CE principle. A broad and in-depth study of theory and empirical
literature on the circular economy also needs to be conducted.

Industry 4.0's circular economy will give birth to a service model or to the business model or
simply known as the service-based business model that can unload the ability to disrupt the
environment and shift industry towards sustainable growth.

A transformative economic paradigm that creates a fully circular economy that can encourage all
stakeholders will develop with further acceptance of Industrial 4.0 principles. This model for
multiple appliances also known as servitization is nothing more than a service-oriented business
model.

The original atmosphere equipment manufacturer will supply the equipment to the customer for
rent and replace it with a newer/remanufactured/renovated product if necessary under this
business model. This will give OEMs the mandate to keep and track their goods in real-time.

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Job Roster

1. Methodology,
2. Circular Economy,
Fouzia Chowdhury 3. Why it is important to ensure sustainability
in industry 4.0 through the circular economy,
4. Big Data Role in Industry 4.0 and circular
economy,

1. Sustainability

Maria Chowdhury Sara 2. Importance of sustainability in the

Manufacturing sector

3. Types of Big data

1. Problem statements
Sherajum Meher 2. Objectives
3. Industry revelation 4

1. Introduction
Naimur Rahman Shajid 2. Recommendation
3. Conclusion

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