Internet of things
What are the characteristics of Digital goods and services?
- Reprogrammable (versioning) - Data homogenetic (almost any content on any device) - Reusable (non-rival) - Systemic (creates value in bundles) - Recursive (network externalities) - Unique cost structure (high fixed - low marginal cost)
IoT business model challenges
-Diversity of objects Diversity refers to the difficulty of designing business models for the IOT due to a multitude of different types of connected objects combined with only modest standardization of interfaces. Extremely challenging to standardize the interfaces with which things connect to the Internet. -Immaturity of innovation Immaturity suggests that quintessential IOT technologies and innovations are not yet products and services but a "mess that runs deep". IoT technologies have not yet been standardized and often require engineering work to couple them together in another application area. -Unstructured ecosystems The unstructured ecosystems mean that it is too early to tell who the participants will be and which roles they will have in the evolving ecosystems. Unstructured ecosystems lack defined underlying structures and governance, stakeholder roles, and value-creating logics. There may not be appropriate or required participants in an emerging ecosystem; for example, IoT operators or potential customers could be missing.
3C framework vs 6C framework
3C framework is used to analyze a network systems in general 6C framework is adopted as an integrated way to systematically study the networked system based on IoT to gain a comprehensive understanding of the IoT-based business ecosystem. The Context is the setting for network development, while co-operation reflects the mechanisms that partners use to interact so as to attain their strategic objectives.
what is the working definition of a sensor
A Sensor is an input device which provides an output (signal) with respect to a specific physical quantity (input) To be useful, sensor(s) must be combined in a Wired/wireless Sensor Node (device)
What is a denial of service attack?
A denial of service attack occurs when the perpetrator sends hundreds of messages from randomly generated false addresses, overloading an Internet service provider's e-mail server. It is An attack that prevents the system from receiving, processing, or responding to legitimate traffic or requests for resources and objects
What is a gateway?
A gateway is a network node that connects two networks with different protocols. It also acts as a "gate" between two networks. A gateway can be a firewall, router, a server or an other that enables traffic to flow in and out of the network
what is an actuator?
An actuator is a device that alters the physical quantity as it can cause a mechanical component to move after getting some input from the sensor. In other words, it receives control input (generally in the form of the electrical signal) and generates a change in the physical system through producing force, heat, motion, etc.
What is mirai
Back in October of 2016, the largest DDoS attack ever was launched on service provider Dyn using an IoT botnet. This lead to huge portions of the internet going down, including Twitter, the Guardian, Netflix, Reddit, and CNN. This IoT botnet was made possible by malware called Mirai. Once infected with Mirai, computers continually search the internet for vulnerable IoT devices and then use known default usernames and passwords to log in, infecting them with malware. These devices were things like digital cameras and DVR players.
What is BLE
Bluetooth low energy
What is the concept of IOT
Connecting the virtual world and the world of physical things Makes the real world more manageable Tech view The IoT can be viewed as a global infrastructure for the information society, enabling advanced services by interconnecting (physical and virtual)
Name some of the issues and constraints when choosing a radio technology
Consider: • Environment - where will the IoT device operate? • Size - has an influence on antenna, battery, durability etc • Cost - if a device is too expensive, this is an issue in itself. (we will look at cost in detail later) • Data - size, persistence etc • Service life and ability, interoperability • Power availability, battery life, power harvesting etc • Local processing requirements (also storage) • Simplex/duplex - operational mode • Security - a major constraint
What is co-opetition?
Coopetition is a business ideology taken directly from insights gained from game theory. Coopetition games are statistical models that consider the ways in which synergy can be created by partnering with competitors. This tactic is thought to be a good business practice between two businesses because it can lead to the expansion of the market and the formation of new business relationships. In this capacity, agreements on standards and developing products across an industry or between two competitors is necessary to implement coopetition. Coopetition is a type of strategic alliance that is particularly common between software and hardware firms.
What connects the business and tech of IOT?
DATA
How to succeed with an IoT business model?
Developed a Partner Ecosystem Update Their Talent Management Strategies Focus on the Business Challenge, Not the Technology
Sensor and actuator flow What (could be) the challenges?
Duplex communication paths - some networks are basically simplex Out of sequence - protocol and handshaking issues (QoS) Interoperability... Fail-safe mechanisms... Monitoring (human?, AI?).... Security, Security, Security.... Firmware... Hacking....
What are the characteristics of IoT?
Dynamic, interconnectable and Heterogenous
prevent your IOT devices being used for ddos attacks
Eliminate default credentials: This will prevent hackers from constructing a credential master list that allows them to compromise a myriad of devices as MIRAI did. Make auto-patching mandatory: IoT devices are meant to be "set and forget," which makes manual patching unlikely. Having them auto-patch is the only reasonable option to ensure that no widespread vulnerability like the Deutsche Telekom one can be exploited to take down a large chunk of the Internet. Implement rate limiting: Enforcing login rate limiting to prevent brute-force attack is a good way to mitigate the tendency of people to use weak passwords. Another alternative would be using a captcha or a proof or work.
What new product functions and capabilities does IOT enable?
Intelligence and connectivity enable an entirely new set of product functions and capabilities, which can be grouped into four areas: monitoring, control, optimization, and autonomy.
Security, a key challenge for IoT
Interconnecting anything • Surface of attack is exploding • Attacks are scalable and can damage others businesses • Vulnerabilities across the value chain Security is an end to end requirement
What is the difference between an IOT firm and IOT ecosystem business model
IoT firm business model A firm's rationale for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing. IoT ecosystem business model An ecosystem business model is a business model composed of value pillars anchored in ecosystems and focuses on both the firm's method of creating and capturing value as well as any part of the ecosystem's method of creating and capturing value
The business view of IOT
IoT forms part of a 'third wave' of digital technology use: fusion of digital technologies into products, processes and chanels IoT restructures industries into business ecosystems IoT puts existing business models into questions
Mention some of the difficulties with small IOT devices
Limited with bandwidth because they are connected with sim-card (expensive) Using batteries maybe requires to "go to sleep"
What are the advantages of an Ecosystem?
Moore (1993): businesses cannot succeed alone, but prosper or fade together with their peers. Businesses need capital, partners, suppliers, and customers to create cooperative networks. In ecosystems, companies act cooperatively and competitively developing new products and satisfying customer needs together.
Is IOT disruptive?
Not disruptive innovation, but disruptive effects
What is physical things?
Physical things exist in the physical world and are capable of being sensed, actuated and connected. Examples of physical things include the surrounding environment, industrial robots, goods and electrical equipment.
IoT security is business critical - Providing the right balance between?
RESILIANCE, reliability, privacy and security
What does ROI stand for?
Return on Investment (ROI) is a performance measure used to evaluate the efficiency of an investment or compare the efficiency of a number of different investments. ROI tries to directly measure the amount of return on a particular investment, relative to the investment's cost.
What have IOT enabled businesses to do and use? What are the IOT drivers.
Rise of Cloud Computing, Advances in Data Analytics, Miniaturization of technology, Computing Economics, Adoption of IP-based networking, Ubiquitous Connectivity
Security is a process
Step 1: Risk evaluation your E2E application Step 2: Security by desing step 3: continious audit and improvemt process. design, implement and maintain
What is a system og systems?
System of systems (SoS) is the viewing of multiple, dispersed, independent systems in context as part of a larger, more complex system. A system is a group of interacting, interrelated and interdependent components that form a complex and unified whole. IoT technologies create value in systems and in 'systems of systems' No single firm can control the whole IoT ecosystem -> Companies needs to compete not only as individual firms but as part of digital business ecosystems
What is cooptition?
Tension between members. cooperative competition. Collaboration: to make the ecosystem great and to make the pie bigger competition: between companies to get a bigger piece of the pie
What is ToC?
Theory of Complimentaries No single firm can control the whole IoT ecosystem
What is a digital twin?
To better understand the rich data generated by smart, connected products, companies are also beginning to deploy a tool called a "digital twin." Originally conceived by the Defense Advanced Research Projects Agency (DARPA), a digital twin is a 3-D virtual-reality replica of a physical product. As data streams in, the twin evolves to reflect how the physical product has been altered and used and the environmental conditions to which it has been exposed. Like an avatar for the actual product, the digital twin allows the company to visualize the status and condition of a product that may be thousands of miles away. Digital twins may also provide new insights into how products can be better designed, manufactured, operated, and serviced.
What is TLS
Transport Layer Security
IoT Ecosystem Business Model. the values pillars.
Value drivers: motivations of diverse participants, that promote the birth of an ecosystem to fulfill a need. Value nodes: clusters of actors, activities, and processes that generates value. Value exchange: exchanges between actors or nodes Value extract: to a part of ecosystem that extracts value Value design: an overall architecture that maps the foundational structure of the ecosystem business model.
What is a virtual thing?
Virtual things exist in the information world and are capable of being stored, processed and accessed. Examples of virtual things include multimedia content and application software
the four v's in big data
Volume, Velocity, Variety, Veracity
Data connects the business and tech side but when does data create value?
When it is... ...The right data: Accurate and appropriate information about a uniquely identifiable physical object as well as its form, fit and function. ...The right quantity: High granularity of information combined with filtering and intelligent processing. ...The right time: Not necessarily mean anytime, but more precisely 'when needed'. ...The right place: where the information is needed or consumed. Value in IoT comes from information provision. Providing the right information .. ... in the right granularity .. ... and the right condition ... ... at the right time ... ... anywhere in the network ... ... at an appropriate price.
What is ICT?
information and communication technologies
What are the five types of adopters of innovation
innovators, early adopters, early majority, late majority, and laggards. The major challenge is to advance from early adopters to early majority, because the business model must allow for "scaling up" the business. The early adopters are willing to tolerate the immaturity of innovation, but the early majority likes to evaluate and buy whole products, including the product, ancillary products, and any related services (Moore, 2006)
Ecosystem boundaries
not all products are made compatible. an ex. is xiaomi and phillips hue light bulbs are not compatible with each other but both are compatible with IKEA
