IoT (Internet of Things) is an innovative ideology, but I think it’s accepted by everyone that it will change traditional business models. As many magazines have written recently; ‘Subscription Economy’ is rapidly gaining value as ‘Product Economy’ begins to lose its appeal. With the IoT Business Model, we will be involved in business models that have achieved success in this field.
IoT business model; Subscription Economics?
In our IoT Value Chain article, we briefly defined the Internet of Things (IoT). However, since the concept of IoT can cover almost anything, we cannot say that a single model can be implemented.
Nevertheless, my personal opinion is that with a data-driven business model based on the subscription economy, most of the cost is paid for by the service provider that will recommend the offer.
Because in most IoT applications, the data itself is the value.
Of course, the end user also benefits from these applications. However, the data generated by using the application is a much more revenueable value… (Note, if you want to use the <a When I say data, I don’t mean personal data!)
The Importance of IoT Data
For example, if you want to create TT Power Outage Detection System
Power Outage Detection System; is one of the most important examples of what can be done by ingesting the data obtained.
This service, which we can define as IoT technology, is able to detect power outage information over the energy information of modems without using customer data and notify the relevant distribution company without any complaints of power outages.
With this service, which is collected by processing data, distribution companies are aware of the outage in advance, reducing the downtime. Electricity Subscribers are also out of power for a shorter period of time.
Turk Telekom, on the other hand, benefits its customers in every way with this service.
Fed only by TT data points, this service is integrated with other applications in use in the sector and will benefit in a much wider scope… For example, if you want to create Smart Meter Applications, etc.
Internet of Things Business Model
IoT Business Model Stakeholders
In our IoT Value Chain article, we stated that smart solutions with a percentage of value of 57%.
Here we want to be described with Smart Solutions; vertical solutions with expertise in areas where needed. For example, if you want to create For the business model in the field of Intelligent Lighting, you will need at least one expert in lighting, an expert in communication and an expert for the analysis of sectoral needs.
If we combine our example; Lighting Solution Company, Telecom Operator and Platfrom (Data Analytic) Company…
Why Is IoT Platfrom Required?
First, we recommend that you read our IoT Platform article. We stated that data analysing is different from M2M.
Now it is essential that this data makes sense by not only communicating with the central software of the devices.
It will also reach large-scale points with IoT without platform;
- Device Management,
- Connection Management,
- Raw Data Management & Semansing
- Cross-Run and Data Feed of Multiple Application
Such major problems will arise. For example, with traffic density data (calculating the lighting effect of vehicle headlights), street lighting is ambient and energy efficiency is increased…
IoT can be implemented with a multi-component, interdisciplinary business model in which each participant can profit.