There Are New Markets for Industrial IoT Data
data, to be cautious in sharing any data
about its business operations. Under
pressure to reclaim its license to operate in
London, the company made a concession to
share 12 journey data aggregated from
millions of journeys in London and help
transportation planners in their work. This
shows how Uber used its proprietary data as
a tradeable asset for regulatory negotiation
reasons.
M ARKET S EGMENTS FOR II O T D ATA
The market for IIoT data is nascent.
Transactions are typically narrow in scope
and based on one-off delivery approaches.
These lack the flexibility to scale. The
emergence of large and liquid markets for
IIoT data will depend on different data types,
new customer segments and the commercial
strategies
enacted
by
data-rich
organizations.
Returning to the case of John Deere, its Open
Data Platform allows farmers to share data
with each other (or not) as well as with 3rd
party app developers and data-analysis
service providers. The platform sources data
from John Deere and competitor machinery,
external databases (e.g. finance, weather)
and crowd-sourced data from farms around
the world.
Data Types
Early experiments with open data and
responses
to
Freedom-of-Information
requests take the form of snapshots of
historical information. In the IIoT arena, an
analogy might be a catalogue of deployed
assets such as machines and tools in a
manufacturing plant. It could also include
roadside equipment, geo-mapping data and
car-parking meters in a smart city. These are
static views for a particular moment in time.
In the healthcare arena, the testing firm
23andMe has pioneered a simple and low-
cost service for individuals to profile their
ancestry and health based on a DNA sample.
While the firm does not sell, lease or rent
personal data, it does share aggregate
information with third parties for business
development, research, marketing emails
and service-improvement purposes. The
ability to study trends and patterns through
different slices of the human population is
equally applicable to the industrial world.
Consider the value of studying hydraulic
pump or HVAC compressor failures for
similarly powered machines from different
manufacturers.
A second category covers time-series data.
An example might be a historical record of
equipment maintenance interventions and
break-downs. There is no periodicity to this
kind of data, except in the case of routine
maintenance.
Remote connectivity allows for data
sampling at regular periodicity. This makes
it possible to apply signal processing
techniques to continuous-time data. An
example might involve analyzing
temperature gradient or vibration
12 Uber offers to share journey data with London city planners https://www.theguardian.com/technology/2018/mar/15/uber-
offers-to-share-journey-data-with-london-city-planners
IIC Journal of Innovation
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