Industry 4.0 : Smart And Connected Business Perspective

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Why smart and connected products?

There are several benefits to use smart and connected products and they are:
Faster.
Cheaper.
Better usage of product.
Improved recall process of product.
Decreased environmental impact.
Smart supply chain.
Connecting the physical objects.
Sharing the data between physical objects.
Increasing the resource efficiency.
Increasing the productivity.

Mediums to getting smart and connected

Embedded Systems.
Cloud computing.
Internet of things (IOT).
Sensors.

Customer values.
Blueprint of profits.
Key resources.
Key processes.

What is the process to getting smart and connected?

There are four key processes they are:
1. Monitor
Resource:
Sensors.
External data sources.

Effects :
Health monitoring of products.
Generating alerts.
Taking action against the odds.

2. Control
Resource:
Custom software.
Effects:
Controlling the products.
Personalization.

3. Optimisation
Resource:
Optimization algorithms.
Effects:
Enhances the performance.
Enables remote services.
Assists in repairing the product

4. Automation
Resource:
Monitor, control, and optimization capabilities.
Software algorithms.
Effect:
Autonomous performance of products.

Why smart business model can be used?

Make the current process less costly.
Make the process efficient.
Meet the expected revenue.

Which key attributes we can follow in smart business model?

Value proposition.
Revenue streams.
Technologies.

How to create value in smart business model?

There are 4 key processes necessary to follow to create value in smart business model and they're:

Novelty/Value centric:
New market.
New services.
Innovation.

Efficiency makes the transaction –
Faster.
Simple.
Transparent.
Eliminating the errors

Lock in centric -
Prevents the customer migration.
Switching cost.
Building trust.

Complementary business model
Product and services.
On-line and off-line assets.
Technologies.
Activities.

Layers and technologies for creating values. 

Physical layer:
Responsible for collecting and acquiring data from object or environment.
Equipped with micro-controllers and sensor

Connectivity layer:
Connects smart devices, servers.
Equipped with different communication technology including IP networks, ZigBee, NFC, Bluetooth and other.

Digital layer:
Stores the data.
Analyzes the data.
Processes the data.



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