service rather than through ownership. Mobile Connectivity Always-on, ubiquitous connectivity of devices to the Internet. Internet of Things Combination of sensors, software, and hardware, which connect over networks to other systems or people. Big Data/Analytics The collection and analysis of large amounts of data to provide insight and improve decision making. © Marc Knez Artificial Intel. Application of machine learning and related techniques to create intelligent machines and systems
Information Goods Ø Information : Anything that can be digitized - encoded as a stream of 1’s and 0’s – is information. Ø In general, information goods represent content (books, magazines, newspapers) that is consumed. Ø Software is also an information good, but it creates content or instructs operations. Ø Information is non-rivalrous – One person’s use of it does not impede another from using it. Ø Production of information goods entails high fixed costs and very low marginal costs. Ø Information goods can be durable or perishable: – Durable: The value of the content does not diminish with time • Fiction Novels – Perishable: The value of the contents diminishes significantly with time • Newspapers © Marc Knez 19
Market Maturity Ø The level of market maturity is defined as the combination of the degree of technology uncertainty and degree of demand uncertainty © Marc Knez 20 Technology Uncertainty Existing scientific and technical knowledge suggests the possibility of a new technology Clear roadmap exists for the development of the technology into a working solution. However, success of roadmap uncertain. Functional capabilities of technology known and incorporated into proven solutions/prototypes Low Medium High Demand Uncertainty Low Medium High Customer needs well understood given revealed preferences in existing markets Existing trends imply, with relatively high likelihood, new customer needs Future needs not currently recognized by customers or developers Mature Market Emerging Market White Space
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- Fall '15