According to Kevin Ashton, the Internet of Things turns the world into data. But what does that mean? The key enabler for unlocking the business value of the IoT is using a technique called business model innovation. In contrast to technology, product or market innovation, business model innovation is a higher level innovation method to find entirely new business models. IoT in this sense helps companies perform a digital transformation to achieve for example n...

In 2018, the Government of Denmark signed a partnership with the World Economic Forum’s ‘Center for the Fourth Industrial Revolution’ in San Francisco. In collaboration with WEF C4IR and its partners, the Government of Denmark is exploring safe and secure ways to integrate dynamic IoT data and real-time positioning in the public sector. The project is anchored within the Danish Agency for Data Supply and Efficiency, which holds the responsibility for major parts of the Basic Data Program a...

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You have probably heard about Product-as-a-Service (PaaS) – and if not, you need to get familiar with the term as soon as possible. Why? Because this transaction and “new” business model changes and challenges some of the traditional business models that we have been using for decades. Why pay for a product when you can just pay for the desired result instead?PaaS allows customers to purchase a desired result rather than the equipment that delivers that result. This model offers ben...