Business Model, make thing, sell thing, subscription, customization, Key Resource, Sensor networks, Take a percentage.
Download as PPTX, PDF0 likes111 views
The document outlines various business models for IoT, emphasizing the importance of creating customer value through understanding target markets, needs, and effective delivery. It discusses the simplicity of direct sales, subscription models for ongoing services, and customization for personalized offerings. Additionally, it highlights the role of sensor networks and data monetization strategies in generating revenue.
Business Model, make thing, sell thing, subscription, customization, Key Resource, Sensor networks, Take a percentage.
- 1. Make Thing, Sell Thing, Subscriptions, Customization, Be a Key Resource, Provide Infrastructure: Sensor Networks, Take a Percentage. @omega.teched @omega_teched Business Model
- 2. What Is A Business Model? OMega TechEd A business model is essentially a plan for how a company will create value for its customers and itself. It includes the following key elements: • Target Customers: Identifying who the customers are. • Customer Needs: Understanding what these customers want. • Value Proposition: Determining how the company can fulfill those needs effectively. • Organizational Structure: Establishing practices and strategies to deliver the value sustainably and profitably.
- 3. Make Thing, Sell Thing OMega TechEd The simplest IoT business model is to create a product and sell it, either online or in stores. Regulations: Electrical products often need to comply with regulations and certifications (such as RoHS and Kite marks), which can increase both complexity and costs. Kit Sales: Selling products as kits for assembly can reduce regulatory burdens but may limit the target market. Revenue Limitation: Focusing on niche markets can restrict potential revenue growth.
- 4. Subscription Models OMega TechEd A subscription model allows customers to pay for products or services over time, such as monthly or annual fees. Common subscriptions include magazines, music services, and software applications. Consumer Appeal: Customers are willing to pay for ongoing services, making this model attractive for IoT products. Premium Features: Users may be encouraged to pay extra for additional features or to eliminate limitations. Combination with Other Models: This model can be integrated with traditional sales, where buying a device grants free access to related internet services, with optional paid upgrades available.
- 5. Customization OMega TechEd Personalization: Tailoring a product or service to meet the specific needs of individual customers or groups. Mass Customization: A strategy that merges the advantages of personalized products with the efficiency and cost-effectiveness of mass production, allowing for tailored items at scale. Mass customization can also be referred to as "made to order" or "built to order.“ IoT Applications: IoT devices offer opportunities for customization at the interface level, potentially leading to innovative business models by allowing users to modify how they interact with the device and its software.
- 6. Be A Key Resource OMega TechEd Some IoT companies target specific markets instead of the mass market, providing components, expertise, or consulting services to other businesses. These companies serve as "key resources" or "partners" within the business models of their clients. For example, small businesses like Adafruit and Oomlout provide electronic components for hobbyists, while manufacturers create printed circuit boards (PCBs) and custom electronic products for other device manufacturers.
- 7. Provide Infrastructure: Sensor Networks • Sensor networks consist of small devices that gather data from environments like farms, hospitals, and factories, transferring it via wired or wireless networks for analysis. This data is crucial on the Internet of Things (IoT), enabling real-time monitoring and interaction with the environment. • Platforms like Xively (now Google Cloud IoT) aggregate and visualize this data, supporting both public access and private, secure business options. • Third-party data sources complement official data, broadening access and insights. For businesses, using such data platforms requires balancing data- sharing benefits with privacy concerns and aligning with corporate values on transparency and ethical data use. OMega TechEd
- 8. Take A Percentage In IoT, when the value of collected data exceeds the cost of the sensors, companies can potentially offer the physical devices for free, as energy companies often do with smart meters. Revenue can be generated indirectly through: Advertising: Companies can show targeted ads based on data insights. Data Sales: Selling valuable data insights to other businesses or government agencies. Bandwidth or Data Access Fees: Charging fees for data access or increased bandwidth usage. OMega TechEd
- 9. Thank You! @omega.teched LIKE,SHARE & SUBSCRIBE @omega_teched