I ² M ²— The Future of Industrial Internet Monetization
( BMILAB) 3, published by the BMILAB at the University of St. Gallen, Switzerland. The Business Model Navigator describes 55 business models by index and name— the oldest is from 1860 and the most recent from 2003. Here are a few examples:
� Franchising(# 17) invented in 1860 by Singer Sewing Machine and famously copied by McDonalds and Subway.
� Razor and Blade(# 39) invented in 1880 by Standard Oil Company( giving away oil lamps for free in China) but receiving its name from the Gillette business model.
� Subscription(# 48) used since 1999 by companies such as Salesforce ® or Netflix ® to reach a steady income stream with recurring fees, typically on a monthly or annual basis.
New business models will continue to be invented and many will depend on technology which is not widely available today. SAP ® for example expanded the BMILAB list by seven additional models which are specific around IoT 4. Examples are:
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Sensor as a Service(# 57) which describes revenue generated from an IoT sensor selling the measured information to other parties. Digitally Charged Products: Object Self Service(# 56e) used by components to order independently on the internet, e. g. a heating system automatically reorders oil when necessary.
The list of business models at I ² M ² is not limited to the lists of BMILAB and SAP, but they represent a good start.
Figure 4: Selection of a group of business models inside the I ² M ² for a specific Monetization Method
3
St. Gallen Business Model Navigator, BMILAB, a spin-off from the University of St. Gallen http:// www. bmilab. com
4
Sung Kwon Kang, SAP Business Transformation Services: Beyond Process Innovation – BMI( Business Model Innovation), SAP Forum July 2016, Seoul, Korea http:// www. sapforum. co. kr / 2016 / seoul / edm / download / Track2 / 01.% 20Business % 20Model % 20Innovation. pdf
IIC Journal of Innovation- 9-