A 4-Step Tool-Chain for IoT Business Model and Sustainability Recommendations

Abstract

Today many different technologies and products are available for the application field of Internet of Things (IoT) and the development continues. Before launching a new product on the market, a market analysis may be used to develop a specific business model (BM) recommendation. This includes not only the classical analysis according to the BM CANVAS (e.g., stakeholders involved, key resources, revenue streams, and cost), but also the analysis of socio-economic aspects up to the identification of sustainability aspects and measures from a Business-to-Business and Business-to-Customer view. Thus, this paper proposes a generic-applicable 4-step tool-chain combining well-established methods with new ones to develop a strong and valid BM for IoT products including the identification of essential sustainability items. This tool-chain is applied to an IoT scenario EduCampus, which forms as a concrete instantiation of the methodology developed.