The IoT- and Big Data-Driven Data Analysis Services: KM, Implications and Business Opportunities

Ubiquitous sensing devices, enabled by wireless sensor network (WSN) technologies, cut across every area of modern day living, affecting individuals and businesses and offering the ability to measure and understand environmental indicators. The proliferation of these devices in a communicating-actuating network creates the Internet of Things (IoT). The IoT provides the tools to establish a major global data-driven ecosystem with its emphasis on Big Data. Now business models may focus on the provision of services, i.e., the Internet of Services (IoS). These models assume the presence and development of the necessary IoT measurement and control instruments, communications infrastructure, and easy access to the data collected and information generated. Different business models may support potential opportunities to create revenue and value for various types of customers. This article contributes to the literature by considering, for the first time, business models, strategic implications and business opportunities for third-party data analysis services.