Using Metrics in the Industrial IoT Value Chain to Drive Trustworthiness
Figure 6: Example Representation of Conflicting Objectives
it is worth noting that greater levels of
trustworthiness can generate financial-
related benefits in many ways, including:
Combining metrics and context can provide
an understanding of the system, its
dynamics and the tradeoffs that are made.
This can be represented graphically with
diagrams showing tradeoffs. These diagrams
may oversimplify the situation since they
often ignore other variables. In many cases
they also just express a correlation, not a
causality. Detailed understanding of the
factors behind the metrics are needed to
understand what is happening.
T RUSTWORTHINESS FROM A B USINESS
P ERSPECTIVE
From a business and financial perspective,
increased levels of trustworthiness can
generate benefits through reduced levels of
risk: While ‘per user’ costs may increase and
some processes may become more
cumbersome, the risk of trustworthiness-
related events reduces so that the overall
value of a business increases. In this context,
Reduced levels of compensation
payments for outages and other
failures
Avoided payments to regulatory
bodies for instances of non-compliance
with regulations, or any individual
trust-related events
Increased levels of sales, and revenues
per sale, due to stronger brand image
Lower costs of business insurance
Lower costs of funding and greater
shareholder returns
Clearly any trustworthiness investment
decisions that a business might make should
be taken with reference to the probability of
potential trustworthiness events (such as
data loss or worker injury) and also the likely
commercial and societal impact of those
events.
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IIC Journal of Innovation