There Are New Markets for Industrial IoT Data
Customer Segments
requests from regulatory bodies (e.g. for
accident investigations) and public-scrutiny
agencies (e.g. for consumer protection).
There are several customer segments for
IIoT data just within an industrial
organization. Operations departments use
IIoT data to monitor and control production
schedules. The Procurement department
might use IIoT data for supply chain
management. And, the finance department
might use IIoT data for expenditure planning
or insurance coverage.
In the future, data owners need to look
outside their organizations to service new
classes of user and capture additional
sources of value from their data assets. The
immediate candidates are supply chain
partners. Upstream, supplier partners
should value equipment data to gain insights
into operating performance for new product
development
purposes.
Downstream
partners in distribution channels should
value IIoT data to improve their operations.
Other
Business
Use
Public
sector
Research
(academic)
Source: London Data Store, Greater London Authority
Figure 2 London Data Store Users
Industrial firms also need to anticipate
consumer privacy issues. This will arise when
data from their devices and products is
linked to their owners. Examples include
connected cars, home appliances and
consumer-healthcare devices.
There will also be new classes of data user,
ranging from data management firms (e.g. to
clean and to package data) to application
developers and service providers (e.g.
outsourced field support).
Commercial Strategies
The third factor that will define the
prospects for data trading is the commercial
strategies of data owners. In the case of
public-sector
agencies
(e.g.
city
administrators, public transport, health and
welfare agencies) that are public-sector
interests and economic benefits to
publishing data. The commercial challenge in
these cases is about how to provide data on
sustainable terms i.e. there has to be a
monetization path that lets cities at least
recover their costs.
Statistics from the London Data Store, a
Greater London Authority initiative to
publish city data, identifies six categories of
external-users. Their applications span in
issues such as business and economy,
demographics,
environment,
health,
housing, planning and transportation.
Over time, devices will become more
sophisticated. They will supply performance
data on a continuous basis and become a
part of everyday life. That is when
manufacturers should prepare for data
IIC Journal of Innovation
Voluntary
sector
Personal
Use by
Londoners
In the private sector, industrial organizations
might pursue walled-garden approaches
where they limit availability and access to
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