Creating a Research Laboratory on Big Data and Internet of Things for the Study and Development of Digital Transformation

2019 ◽  
pp. 339-358 ◽  
Author(s):  
Vardan Mkrttchian ◽  
Leyla Gamidullaeva ◽  
Svetlana Panasenko ◽  
Arman Sargsyan
Keyword(s):  
Big Data ◽  
Internet Of Things ◽  
Business Model ◽  
Research Laboratory ◽  
Business Models ◽  
Digital Transformation ◽  
The Internet ◽  
Technology Platform ◽  
The Cost ◽  
The Internet Of Things

This chapter discusses the problems associated with the design of the business model in the new context of big data and the internet of things to create a research laboratory for studying and improving digital transformations. The development of business prospects for IOT is due to two main trends: 1) the change of focus from IOT viewing primarily as a technology platform for viewing it as a business ecosystem and 2) the transition from focusing on the business model in general to the development of business models of ecosystems. In the chapter, the business model of the ecosystem is considered as a model consisting of signs fixed in ecosystems and focuses on creating the cost of the laboratory and fixing the value of the ecosystem in which the created laboratory operates.

The future of the Internet of Things: toward heterarchical ecosystems and service business models

2018 ◽  
Vol 33 (6) ◽  
pp. 749-767 ◽  
Author(s):  
Seppo Leminen ◽  
Mervi Rajahonka ◽  
Mika Westerlund ◽  
Robert Wendelin
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Value Chain ◽  
Large Scale ◽  
Business Models ◽  
The Internet ◽  
Content Type ◽  
Industry Collaboration ◽  
New Business ◽  
The Internet Of Things

Purpose This study aims to understand their emergence and types of business models in the Internet of Things (IoT) ecosystems. Design/methodology/approach The paper builds upon a systematic literature review of IoT ecosystems and business models to construct a conceptual framework on IoT business models, and uses qualitative research methods to analyze seven industry cases. Findings The study identifies four types of IoT business models: value chain efficiency, industry collaboration, horizontal market and platform. Moreover, it discusses three evolutionary paths of new business model emergence: opening up the ecosystem for industry collaboration, replicating the solution in multiple services and return to closed ecosystem as technology matures. Research limitations/implications Identifying business models in rapidly evolving fields such as the IoT based on a small number of case studies may result in biased findings compared to large-scale surveys and globally distributed samples. However, it provides more thorough interpretations. Practical implications The study provides a framework for analyzing the types and emergence of IoT business models, and forwards the concept of “value design” as an ecosystem business model. Originality/value This paper identifies four archetypical IoT business models based on a novel framework that is independent of any specific industry, and argues that IoT business models follow an evolutionary path from closed to open, and reversely to closed ecosystems, and the value created in the networks of organizations and things will be shareable value rather than exchange value.

A Business Model Framework for Crowd-Driven IoT Ecosystems

2019 ◽  
pp. 440-461
Author(s):  
Xenia Ziouvelou ◽  
Frank McGroarty
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Wearable Devices ◽  
The Internet ◽  
Model Framework ◽  
Research Attention ◽  
Business Modelling ◽  
Emerging Ecosystems ◽  
The Internet Of Things

This article describes how the era of hyper-connectivity is characterized by distributed, crowd-centric ecosystems that utilise cutting edge technology so as to harness the collective power, co-creation ability and intelligence of the crowd utilising under open participatory value creation models. The Internet of Things (IoT) has fueled the emergence of such ecosystems that leverage not only the power of physical things connected to the Internet but also the wisdom of the crowd to observe, measure, and make sense of phenomena via user-owned mobile and wearable devices. Existing business modelling literature has to date, placed no research attention on business models for such emerging ecosystems. This article aims to fill this gap by examining the dynamics of crowd-driven IoT ecosystems and introducing a business model framework for such environments, encompassing all relevant value-creating actors, activities and processes, facilitating this way a holistic ecosystem business model analysis.

The Rise of Big Data, Cloud, and Internet of Things

2018 ◽  
pp. 201-222 ◽  
Author(s):  
Reema Abdulraziq ◽  
Muneer Bani Yassein ◽  
Shadi Aljawarneh
Keyword(s):  
Cloud Computing ◽  
Big Data ◽  
Internet Of Things ◽  
End Users ◽  
Structured Data ◽  
The Internet ◽  
Huge Amount ◽  
Volume Velocity ◽  
The Cost ◽  
The Internet Of Things

Big data refers to the huge amount of data that is being used in commercial, industrial and economic environments. There are three types of big data; structured, unstructured and semi-structured data. When it comes to discussions on big data, three major aspects that can be considered as its main dimensions are the volume, velocity, and variety of the data. This data is collected, analysed and checked for use by the end users. Cloud computing and the Internet of Things (IoT) are used to enable this huge amount of collected data to be stored and connected to the Internet. The time and the cost are reduced by means of these technologies, and in addition, they are able to accommodate this large amount of data regardless of its size. This chapter focuses on how big data, with the emergence of cloud computing and the Internet of Things (IOT), can be used via several applications and technologies.

An Approach to Designing IoT-Based Business Models

2017 ◽  
pp. 43-70
Author(s):  
Iva Vojinović ◽  
Dušan Barać ◽  
Ivan Jezdović ◽  
Milica Labus ◽  
Filip Jovanović
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Distribution Channels ◽  
The Internet ◽  
Business Model Canvas ◽  
Key Resources ◽  
The Internet Of Things ◽  
Business Model Development

This chapter will foster the understanding of the structure of business model elements in Internet of things field. Business model provides an efficient way to analyze, understand and manage strategically oriented goals for one or more stakeholders in order to create some value for end-users, but in the Internet of things there is not clear path for its development. An approach that will be used is the generally accepted principle of forming business model, Canvas template, which is a strategic template for understanding the relation between key partners, key activities, customers and clients, key resources, value proposition for customers in the form of products or services, relationships with customers, sales and distribution channels, cost structure, income flow. Presented is an integrated model with main aspects that should be covered when it comes to the Internet of things business model development, combining Canvas template, inside organizational structure and ecosystem restrictions.

An Approach to Designing IoT-Based Business Models

2020 ◽  
pp. 246-267
Author(s):  
Iva Vojinović ◽  
Dušan Barać ◽  
Ivan Jezdović ◽  
Milica Labus ◽  
Filip Jovanović
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Distribution Channels ◽  
The Internet ◽  
Business Model Canvas ◽  
Key Resources ◽  
The Internet Of Things ◽  
Business Model Development

This chapter will foster the understanding of the structure of business model elements in Internet of things field. Business model provides an efficient way to analyze, understand and manage strategically oriented goals for one or more stakeholders in order to create some value for end-users, but in the Internet of things there is not clear path for its development. An approach that will be used is the generally accepted principle of forming business model, Canvas template, which is a strategic template for understanding the relation between key partners, key activities, customers and clients, key resources, value proposition for customers in the form of products or services, relationships with customers, sales and distribution channels, cost structure, income flow. Presented is an integrated model with main aspects that should be covered when it comes to the Internet of things business model development, combining Canvas template, inside organizational structure and ecosystem restrictions.

scholarly journals THE CONCEPT OF LEGAL REGULATION OF ARTIFICIAL INTELLIGENCE: PLATFORM LEGAL MODELS

2020 ◽  
pp. 26-40
Author(s):  
S. Yu. Kashkin ◽  
A. V. Altoukhov
Keyword(s):  
Big Data ◽  
Internet Of Things ◽  
Social Relations ◽  
Business Models ◽  
Legal Regulation ◽  
Production Costs ◽  
The Internet ◽  
Management Concepts ◽  
Legal Forms ◽  
The Internet Of Things

Modern technologies and new management concepts — industrial and product platforms — create breakthrough innovative products and services based on the integrated integration of Artifi cial Intelligence, Big Data and the Internet of Things. The cost of communications has plummeted over the past decade, making network and system integration less expensive. Platforms are the physical embodiment of networking. They take traditional production to digital footing, lowering production costs and turning products into services that provide greater profi t. Platform law could become a mechanism for the network interaction of Artifi cial Intelligence, Big Data and the Internet of Things. It should be like integration law, but permeated, in accordance with its updated nature, scientifi c, technological and information-digital algorithms of legal relations and interactions. To meet the requirements of the time, legal institutions must change — the dominance of platform business models creates new legal relations and the need to seek new content and new legal forms of institutional regulation of changing social relations. The legal fi eld of platform business models is in a constant search for a balance between innovations (technologies + economics) and their legal regulation.

A Business Model Framework for Crowd-Driven IoT Ecosystems

Crowdsourcing ◽  
2019 ◽  
pp. 262-284
Author(s):  
Xenia Ziouvelou ◽  
Frank McGroarty
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Wearable Devices ◽  
The Internet ◽  
Model Framework ◽  
Research Attention ◽  
Business Modelling ◽  
Emerging Ecosystems ◽  
The Internet Of Things

This article describes how the era of hyper-connectivity is characterized by distributed, crowd-centric ecosystems that utilise cutting edge technology so as to harness the collective power, co-creation ability and intelligence of the crowd utilising under open participatory value creation models. The Internet of Things (IoT) has fueled the emergence of such ecosystems that leverage not only the power of physical things connected to the Internet but also the wisdom of the crowd to observe, measure, and make sense of phenomena via user-owned mobile and wearable devices. Existing business modelling literature has to date, placed no research attention on business models for such emerging ecosystems. This article aims to fill this gap by examining the dynamics of crowd-driven IoT ecosystems and introducing a business model framework for such environments, encompassing all relevant value-creating actors, activities and processes, facilitating this way a holistic ecosystem business model analysis.

An Approach to Designing IoT-Based Business Models

2020 ◽  
pp. 148-169
Author(s):  
Iva Vojinović ◽  
Dušan Barać ◽  
Ivan Jezdović ◽  
Milica Labus ◽  
Filip Jovanović
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Distribution Channels ◽  
The Internet ◽  
Business Model Canvas ◽  
Key Resources ◽  
The Internet Of Things ◽  
Business Model Development

This chapter will foster the understanding of the structure of business model elements in Internet of things field. Business model provides an efficient way to analyze, understand and manage strategically oriented goals for one or more stakeholders in order to create some value for end-users, but in the Internet of things there is not clear path for its development. An approach that will be used is the generally accepted principle of forming business model, Canvas template, which is a strategic template for understanding the relation between key partners, key activities, customers and clients, key resources, value proposition for customers in the form of products or services, relationships with customers, sales and distribution channels, cost structure, income flow. Presented is an integrated model with main aspects that should be covered when it comes to the Internet of things business model development, combining Canvas template, inside organizational structure and ecosystem restrictions.

scholarly journals Understanding the Features of Internet of Things (IoT) and Big Data Analysis

2021 ◽  
Author(s):  
Yew Kee Wong
Keyword(s):  
Big Data ◽  
Data Analysis ◽  
Internet Of Things ◽  
Rapid Growth ◽  
Big Data Analysis ◽  
Digital Transformation ◽  
The Internet ◽  
Business Enterprise ◽  
Tools And Techniques ◽  
The Internet Of Things

In the information era, enormous amounts of data have become available on hand to decision makers.Big data refers to datasets that are not only big, but also high in variety and velocity, which makes them difficult to handle using traditional tools and techniques. Due to the rapid growth of such data, solutions need to be studied and provided in order to handle and extract value and knowledge from these datasets. The Internet of Things, or "IoT" for short, is about extending the power of the internet beyond computers and smartphones to a whole range of other things, processes and environments. IoT is at the epicentre of the Digital Transformation Revolution that is changing the shape of business, enterprise and people’s lives. This transformation influences everything from how we manage and operate our homes to automating processes across nearly all industries. This paper aims to analyse the relationships of AI, big data and IoT, as well as the opportunities provided by the applications in various operational domains.

scholarly journals Research on the Connotation and Business Model of Internet of Things under the Background of Globalization

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Yurong Chen
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Socioeconomic Development ◽  
Business Models ◽  
Industrial Revolution ◽  
The Internet ◽  
Information Technology Industry ◽  
Technology Industry ◽  
New Business ◽  
The Internet Of Things

 With the advent of the fourth industrial revolution, the new generation of information technology industry represented by the Internet of Things has continually nurtured new business models and economic growth points, and created one after another IoT mythology, which greatly promoted the global socioeconomic development and transformation. IoT has increasingly become the new engine of the current global economic development. To this end, this paper starts with the concept and connotation of the Internet of Things, discusses the development and application of the global Internet of Things and the types and characteristics of the Internet of Things business model, and proposes the measures and countermeasures of the business model of the Internet of Things in the context of globalization.

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