IoT- and Big Data-Driven Data Analysis Services for Third Parties, Strategic Implications and Business Opportunities

Abstract

This article describes ubiquitous sensing devices, enabled by wireless sensor network (WSN) technologies, now cut across every area of modern day living, affecting individuals and businesses and offering the ability to obtain and measure environmental indicators. Proliferation of these devices in a communicating-actuating network creates an Internet of Things (IoT). The IoT provides the tools to establish a major, global data-driven ecosystem that also enables Big Data techniques to be used. New business models may focus on the provision of services, i.e., the Internet of Services (IoS). These models assume the presence and development of the necessary IoT measurement and control instruments, communications infrastructure, and easy access to the data collected and information generated. Different business models may support opportunities to create revenue and value for various types of customers. This article contributes to the literature by considering, a first, knowledge-based management practices, business models, strategic implications and business opportunities for third-party data analysis services.

Industry 4.0 and business models: a bibliometric literature review

“…The servitization IoT enables a common basis for all articles within this cluster; Lokshina et al (2018) have talked about the Internet of Services (IoS), also drawing attention on the variety of ways firms can capture value based on IoT solutions. This consideration paves the way to the second common trait among articles in this group, which is well captured by the expression system-level service introduced by Ik€ avalko et al (2018).…”

Business Models for the Internet of Services: State of the Art and Research Agenda

“…For Cozmiuc and Petrisor [34] (P6), the shopfloor will become a network of self-organizing decision-making agents by transforming all machines into CPS, which form the IoT and IoS within Industry 4.0. The idea matches the concept of IoS as a future internet Healthcare Healthcare is one of the main categories of organizations that can benefit from ICT advances as it will be personalized and involve the use of wearable sensors transmitting a large amount of patient data via mobile devices and computers [32] (P4).…”

“…Lokshina et al [32] (P4) assess business opportunities applying IoT and Big Datadriven services for third parties. When massive amounts of data become accessible and understandable, the health organizations can subsequently use them, and the implications are enormous for civic life and personal health.…”

“…Smart Environment raises important social applications, and governments are interested in using the latest technologies to promote the best social climate to their citizens. It includes smart homes, smart cities, office, and plant, all integrated into the environment [32] (P4).…”

“…Lokshina et al [32] (P4) also raise business opportunities in smart environment through the IoT and big data. Information platforms offering comprehensive public transportation information can be developed using open data released by the government together with data collected from the Internet to provide up-to-date information for users.…”