Business Strategy and Innovation Framework
� real-time business insight ( decision-making ), � new market and customer experience improvement , � new services and � societal improvements .
When initiating the IIoT opportunity discovery process , there are two fundamentally different objectives to consider :
� leveraging IIoT technology for production optimization and � investigating new IIoT business model opportunities .
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 PRODUCTION OPTIMIZATION
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 NEW IIOT BUSINESS MODEL IDEATION TOOLS
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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