The internet of things - new value streams for customers

Ashok Kumar Wahi and Vandana Ahuja

International Journal of Information Technology and Management, 2017, vol. 16, issue 4, 360-375

Abstract: This manuscript traces the changes in the organisational ecosystems which will pave the way for the evolution of the business systems for 2020 and studies the diverse applications of the internet of things (IoT). IoT can help companies in creating new value streams for customers, speed time to market, and respond more rapidly to customer needs. The manuscript further proceeds to outline the varied applications which would eventually translate into long term benefits for the corporate sector with respect to creation of new business models, real time mission critical systems, diversification of revenue streams, global visibility through digital marketing and efficient, intelligent operations. While some benefits may have greater value to the corporate sector, the others while having tremendous potential may spell out slightly lesser significance and advantage to the commercial sector. This study develops an internet of things application benefit index (IABI), which reflects the composite potential of a specific internet of things applications, in terms of its long-term benefits to the corporate workspaces.

Keywords: internet of things; IoT; internet of things application benefit index; IABI; value streams; revenue streams; digital marketing; business models. (search for similar items in EconPapers)
Date: 2017
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