The question of how production, logistics and value chains can be further optimized or reshaped into new business models by sensing technology and smart analytics is currently among the most important items on the agenda of decision-makers in the technology and industry segment.
The Internet of Things (IoT) is representative for the interconnection of physical objects, that besides human beings, also include sensors, household devices, cars, industrial equipment and much more. The IoT bridges the gap between the digital and the analog world as it aims for maximum interconnection and the largest possible exchange of information.
In the era of the Internet of Things a significant part of the “Product Value Function” is defined by new software functions and data services. Additionally, this offers the opportunity to develop completely new business models and the exploration of new revenue sources.
This is especially apparent in the development phase of cloud in- frastructure and platforms which are some of the central drivers behind IoT services since they offer ideal conditions and as crucial enablers for backend services. These in turn create value-added services for owners as well as for their customers and partners.