Creating Value for the Internet of Things

Introduction and Purpose

The Internet of Things is expected to transform how we interact with the things in our world and how the things interact with each other. Our machines, systems, vehicles along with a confusing variety of new sensors will communicate with us and each other over the Internet. Vast amount of new data will be created. Machine learning and other forms of AI will open many unimagined insights. How will all of this create value? And how will these many new products and services be priced? Ibbaka is exploring these questions as it develops methods, best practices, benchmarks and technologies for pricing the Internet of Things.

We will share the survey results with participants. We hope that the survey will provoke some thinking about your Internet of Things solutions, how they create value, how the data rights will be managed and your pricing and monetization strategies.

Learn more about Ibbaka.

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* 1. What excites you about the potential of the Internet of Things? (Optional)

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* 2. What stage is your organization at in adopting the Internet of Things?

Have no plans

Initial exploration

In planning

Have begun developing solutions

Have implemented solutions internally

Have brought a solution to market

Have brought multiple solutions to market

Have developed an IoT growth platform

Other (please specify)

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* 3. How will your organization get value from the Internet of Things? (Please check all applicable answers.)

Internal applications that will reduce costs

Internal applications that will provide business insights

Internal applications that will improve revenues

External applications that will increase the value of our existing products and services

External applications that are new products and services

External applications that will collect data which we will use to improve other products and services

External applications that will collect data which we will monetize with third parties

Building IoT solutions for other companies

Providing an IoT platform for other companies

Other (please specify)

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* 4. How are you managing the rights to use data gathered by your IoT applications? (Check all that apply)

The customer has the rights to the data and we cannot access or use it

The customer has rights to the data but we have access in order to manage and improve the solution

The customer has the right to download or integrate data from our solution with third-party solutions

We have the right to pool anonymized data and use this to improve the solution for all of our customers

We have the right to pool anonymized data and resell to third parties

We have the right to resell customer data to third parties

We are not managing data rights

Other (please specify)

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* 5. How do your IoT solutions create value for your customers?

Not applicable (our solutions are internal)

Not applicable (we build solutions for other companies to sell)

We help reduce operating expenses

We help reduce operating capital requirements

We help reduce capital expenses

We reduce risk

We provide options (for example operational flexibility)

We grow our customers' revenues

Other (please specify)

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* 6. How are you pricing your Internet of Things solutions? (Check all that apply)

Not applicable (our solutions are internal)

Not applicable (we build solutions for other companies to sell)

Bundle as part of another product and capture the value of the IoT solution with higher prices

Bundle as part of another service and capture the value of the IoT solution with higher prices

Fixed price for the physical device plus a subscription for the IoT informed service

Subscription (fixed amount for a period of time)

Per use (a fee each time the service is accessed)

By consumption metric (a fee based on consumption of some measurable parameter)

By performance metric ( a fee based on value we provide, such as expense reduction or increased revenue)

By monetizing data through sale to third parties

Using machine-to-machine (M2M) transactions that negotiate price automatically

Other (please specify)

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* 7. Do you use formal models for value, usage or price? (Check all that apply)

We are not yet using formal models

We have a formal economic value model and our system collects the data needed to inform this model

We have a formal usage model and our system collects the data needed to inform this model

We have a formal pricing model and our system collects the data needed to inform this model

These models are used to inform invoices and pricing

These models used to generate invoices automatically

The value, usage and pricing models are linked

Data science (predictive analytics, machine learning, other Artificial Intelligence approach) is used to develop and evolve these models

Other (please specify)

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* 8. Please share your thoughts on how the Internet of Things will create value. (Optional)

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* 9. Please share your thoughts on how pricing the Internet of Things will evolve. (Optional)

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* 10. What industry is your company in?

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* 11. How large is your organization (in terms of revenues)?

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* 12. How much revenue will the IoT contribute to your business in the current financial year?

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* 13. How much revenue is the IoT expected to contribute in three years?

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* 14. Are you interested in learning more about any of the following? (Please check all that apply)

Ibbaka's Data Rights Model for the Internet of Things

Ibbaka's Consulting on Market Segmentation for the Internet of Things

Ibbaka's Consulting on Value Models for the Internet of Things

Ibbaka's Consulting on Pricing for the Internet of Things

Ibbaka's Consulting on Integrated Value-Usage-Pricing Models for the Internet of Things

The results of this survey

Other (please specify)

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* 1. What excites you about the potential of the Internet of Things? (Optional)

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* 2. What stage is your organization at in adopting the Internet of Things?

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* 3. How will your organization get value from the Internet of Things? (Please check all applicable answers.)

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* 4. How are you managing the rights to use data gathered by your IoT applications? (Check all that apply)

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* 5. How do your IoT solutions create value for your customers?

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* 6. How are you pricing your Internet of Things solutions? (Check all that apply)

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* 7. Do you use formal models for value, usage or price? (Check all that apply)

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* 8. Please share your thoughts on how the Internet of Things will create value. (Optional)

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* 9. Please share your thoughts on how pricing the Internet of Things will evolve. (Optional)

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* 10. What industry is your company in?

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* 11. How large is your organization (in terms of revenues)?

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* 12. How much revenue will the IoT contribute to your business in the current financial year?

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* 13. How much revenue is the IoT expected to contribute in three years?

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* 14. Are you interested in learning more about any of the following? (Please check all that apply)

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* 15. If you checked off an answer in question 14 please provide your corporate e-mail and we will contact you.