Compared to product optimization new IIoT business model opportunities are

Compared to product optimization new iiot business

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Compared to product optimization, new IIoT business model opportunities are generally at an earlier stage and have the potential to be more disruptive to current business practices. The specific objectives of the enterprise in question will formulate techniques used to identify IIoT opportunities, as described below. Like all projects, IIoT projects must start with an idea. The difficulty is that the potential of the IIoT is vast and as not yet fully understood, meaning almost all IIoT projects are ground-breaking to some extent. Clear development paths to follow are not yet commonly available, and ideas can emerge from any part of the organization. Enterprises seeking to engage in the IIoT should therefore draw on as wide a pool of talent and knowledge as possible when identifying potential projects. For instance, analogies drawn from IIC use cases, best-practice implementations, and lessons learned from IIC testbeds or other enterprises might serve as good starting points. Benchmarks with competitors or other industries may also offer inspiration in this early phase of innovation. An outward view should be taken, by conducting interviews with, for example, industry experts, clients and suppliers. The overall objectives underpinning any specific IIoT initiative (whether the aim is to optimize production or to explore new business models) will determine which analysis techniques to apply. 5.1.1 P RODUCTION O PTIMIZATION Where the objective is optimization, the most effective technique for idea generation is to follow a structured approach deriving ideas from a specific context. Examples include analyzing the enterprise’s overall value chain, value streams on the shop floor, processes and value drivers for important performance indicators (KPIs). Classic Business Process Management (BPM) applies techniques to assess the optimization potential of each idea and the process should start by focusing on the current portfolio of products and services provided to existing customers. 5.1.2 N EW II O T B USINESS M ODEL I DEATION T OOLS In the context of new IIoT business models, an open process for generating innovative ideas for IIoT solutions should draw on the potential of employees, customers and developers. Tools that support the idea generation process include traditional creativity methods such as random input (confronting the idea with random items), brainstorming (formulating ideas for
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Business Strategy and Innovation Framework IIC:PUB:B01:V1.0:PB:20161115 - 28 - specific questions), brainwriting (also known as 6-3-5 method, where ideas are generated filling out a sheet by 6 persons, changing the sheet 3 times limiting the working time to 5 minutes). More IIoT-specific exercises, like confronting the idea with business model patterns involving “sensors as a service” or “digitally charged products” are also worth considering as part of the process of identifying new opportunities [EF1].
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