IIOT #2 - Internet of Things (IOT) Business Models

According to the text, which of the following is a main value driver of Industrial IOT?

• Asset utilization

• Labor support

• Health and Safety

• Innovation

What is the main benefit of 'Remote Monitoring and control' in Industrial IOT?

• Reduces wastage

• None of the above

• Reduce downtime

• Reduces workload

• Faster response

Which of the following is a value driver of Industrial IOT related to Inventory Management?

• Real-time supply chain optimization

• Additive manufacturing (3D Printing)

• Digital Quality Management

• None of the above

What is the main purpose of 'Data driven design to value' in Industrial IOT?

• To develop better performing products aligned to customer needs

• To decrease product cost

• None of the above

• Faster customer feedback

According to the text, what is the main focus of IOT Market Trends?

• Mindset shift

• Integration of IT and OT domains

• Data acquisition and processing

• All of the above

What is the main value of an IoT product or offering ?

• Software development

• Hardware integration

• Data acquisition

• None of the above

What is the main feature of the 'Outcome based model' in IOT Business Models?

• Customers pay for the device itself

• Customers pay for the outcome the product provides

• None of the above

• Customers pay for the hardware

What is the main concept behind the 'Asset sharing model' in IOT Business Models?

• Customers pay a reduced price and share the asset

• Customers pay for the full price of the asset

• None of the above

• Customers share the asset with the company

What is the main advantage of 'Monetizing IOT data' in IOT Business Models?

• Marketing the knowledge gained from data extraction to third parties

• Collecting valuable data

• None of the above

• Providing value to the end user

What is the main benefit of 'Predictive Maintenance' in Industrial IOT?

• Reduces maintenance costs

• Reduces workload

• Reduces downtime