The Role of the Internet of Things in the Improvement and Expansion of Business

2018 ◽  
Vol 30 (3) ◽  
pp. 24-44 ◽  
Author(s):  
Hodjat Hamidi ◽  
Maryam Jahanshahifard
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
Present Report ◽  
The Internet ◽  
General Logic ◽  
In The Beginning ◽  
Almost All ◽  
The Impact ◽  
Near Future ◽  
The Internet Of Things

The Internet of Things (IOT) has been examined in several perspectives based on the goals and visions of the present report. First, in this report based on previous studies, the general framework of business models in the Internet of Things has been analyzed, and then the suggested framework is presented. In the following, the business models of the Internet of Things and the impact of Internet of Things on the existing business models are studied. Thus, first of all, recognizing the elements of business models related to the Internet of Things is essential which has been addressed in the report. The results of different studies led to recognition of almost all business models in this field and to stating the most important components of the business models affected by the Internet of Things. The authors are still in the beginning of the process of Internet of Things. Most of the companies are willing to offer and sell the connected products and in near future, the majority of organizations will adopt more complex and ecosystem models. The purpose of this report is to offers social and business ideas to innovators so they can improve business models using the Internet of Things. This report examines the business models and proposed existing frameworks along with the economic energy of Internet of Things according to the successful projects in this scope, and offers the general logic for services or products that can be used as the basis of specific elements and patterns of business models of IOT.

A Framework for Analyzing the Impact of Data Analytics and the Internet of Things on Digital Marketing

2019 ◽  
pp. 211-240
Author(s):  
Dimitris K. Kardaras ◽  
Bill Karakostas ◽  
Stavroula G. Barbounaki ◽  
Stavros Kaperonis
Keyword(s):  
Internet Of Things ◽  
Data Analytics ◽  
Digital Transformation ◽  
Digital Marketing ◽  
The Internet ◽  
Almost All ◽  
The Impact ◽  
The Internet Of Things

The proliferation of the internet of things will open up new opportunities for implementing the digital transformation of businesses. Available data is expected to rise in unprecedented levels of quantity with the IoT playing an important role towards that end. Data analytics techniques will provide businesses with refined pieces of information in almost all aspects in both B2C and B2B context, thus refining services design and customization with more flexibility and options that focus right at the heart of consumers' needs. Digital marketing depends on these developments. This chapter aims at proposing a framework for analyzing the implications of data analytics and IoT on digital marketing.

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.

scholarly journals Designing Business Models for the Internet of Things

2014 ◽  
Vol 4 (7) ◽  
pp. 5-14 ◽  
Author(s):  
Mika Westerlund ◽  
Seppo Leminen ◽  
Mervi Rajahonka
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
The Internet ◽  
The Internet Of Things

A probable effect of the development of internet technology on insurance & banking sectors, decision processes and service structures

2020 ◽  
Vol 1 (1) ◽  
pp. 36-41
Author(s):  
Ali Osman Serdar Citak
Keyword(s):  
Internet Of Things ◽  
Decision Processes ◽  
Internet Technology ◽  
Smart Sensors ◽  
The Internet ◽  
Future Expectations ◽  
History Of ◽  
Probable Effect ◽  
Near Future ◽  
The Internet Of Things

The history of the development of the Internet of Things (IoT) covers the last twenty years. Despite the short of time, the concept and implementation of the Internet of Things have widely spread all over the world. The impetus of the dissemination of the concept has exponential speed. In the near future, billions of smart sensors and devices will interact with one another without human intervention. The early impact of the Internet of Things has been observed and discussed in the areas of technology, transportation, production, and marketing. The prospective effect of the Internet of Things on the finance sector has been discussed recently. In this study, the development of the concept of the Internet of Things and it is effect on the finance sector and specifically the insurance and banking sectors and future expectations have been evaluated.

Interface Trends in Human Interaction, the Internet of Things, and Big Data

2018 ◽  
pp. 4210-4222
Author(s):  
William J. Gibbs
Keyword(s):  
Big Data ◽  
Internet Of Things ◽  
Television News ◽  
Information Services ◽  
Human Interaction ◽  
The Internet ◽  
Media Convergence ◽  
The Impact ◽  
The Internet Of Things

In this chapter, I examine trends in today's news-orientated interfaces and the impact of digital interfaces on news consumption. Digital interfaces will be differentiated from traditional informational sources such as newspapers and television news. Additionally, I will explore several major characteristics or trends germane to today's news interfaces and their implications for how people consume news and, more generally, for how they transform information services: a) rapid innovation, b) interactivity, c) social, d) standardization, e) scale, f) media convergence and, g) the Internet of Things and Big Data.

Internet of Things Applications

2016 ◽  
pp. 397-427 ◽  
Author(s):  
Mahmoud Elkhodr ◽  
Seyed Shahrestani ◽  
Hon Cheung
Keyword(s):  
Quality Of Life ◽  
Internet Of Things ◽  
Mobile Devices ◽  
Physical Space ◽  
The Internet ◽  
Everyday Objects ◽  
Iot Applications ◽  
The Impact ◽  
The Internet Of Things

The Internet of Things (IoT) brings connectivity to about every objects found in the physical space. It extends connectivity not only to computer and mobile devices but also to everyday objects. From connected fridges, cars and cities, the IoT creates opportunities in numerous domains. This chapter briefly surveys some IoT applications and the impact the IoT could have on societies. It shows how the various application of the IoT enhances the overall quality of life and reduces management and costs in various sectors.

scholarly journals The impact of the Internet of Things (IoT) on servitization: an exploration of changing supply relationships

2019 ◽  
Vol 31 (2-3) ◽  
pp. 203-219 ◽  
Author(s):  
Julius H. Boehmer ◽  
Manish Shukla ◽  
Dharm Kapletia ◽  
Manoj Kumar Tiwari
Keyword(s):  
Internet Of Things ◽  
The Internet ◽  
The Impact ◽  
The Internet Of Things
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