Page 66 - IoT - Pilot

Developing your IoT Business Model

● A business model describes how an organisation intends to create,
capture and deliver value

− Effectively a business model represents a recipe for how an organisation
proposes to make money

● A business model can be thought of in terms of nine definitional
elements:

 Customer segments  Key resources

 Value propositions  Key activities

 Channels  Key partnerships

 Customer relationships  Cost structure

 Revenue streams

Osterwalder, Business Model Generation