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2014 Internet of Things innovation

Presented by Lorna Goulden at the Internet of Things Asia 2014 conference in Singapore and the IoT Event Eindhoven (allow time to load before viewing, select Fullscreen icon - bottom-right - then right arrow or space-bar to view (or skip video)
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Lorna Goulden

on 24 November 2014

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Transcript of 2014 Internet of Things innovation

Internet of Things innovation
A strategy and toolkit to guide Internet of Things innovation and business development
As successful business models are rapidly copied, continuous innovation and adaptation of a business model is required to sustain a competitive edge
photographs courtesy of Slava Kozlov
Experience prototyping
Triggers trends and signals
A representation of how an organization creates (or intends to create) value
It is not sufficient to develop successful value propositions this must also go hand-in-hand with the design of a competitive business model
New business models have the power to disrupt complete industries, threaten established companies and challenge conventional ways of doing business
The Internet of Things is set to accelerate this disruption
Zero marginal cost society
www.youtube.com How the "Internet of Things" is Killing Capitalism April 4th 2014
Light-s.nl
Wolfgang Klein
"A shift towards customer empowerment is affecting the economy especially in internet-based industries"
When consumers turn into active stakeholders in the economy, they also become an integral part of the creation process
Value Chain 2.0 Dr Xavier L. Comtessse, Pr. Jeffrey Huang – www.thinkstudio.com/text/chain20.pdf
Business value chain
How can the old value chain integrate the non-linear,complex and networked realities of a more participative economy ?
Technology is fundamentally impacting the entire business chain.

With value creation going far beyond financial gain to include brand equity
Who are our Key Partners?
Who are our key suppliers?
Which Key Resources are we
acquiring from partners?
Which Key Activities do partners perform?

MOTIVATIONS FOR PARTNERSHIPS
Optimisation and economy
Reduction of risk and uncertainty
Acquisition of particular resources
and activities

What Key Activities do our
Value Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue streams?

CATEGORIES
Production
Problem solving
Platform/network
What Key Resources do our Value
Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue Streams?

TYPES OF RESOURCES
Physical
Intellectual (brand patents, copyrights, data)
Human
Financial
What value do we deliver to the
customer?
Which one of our customer’s
problems are we helping to solve?
What bundles of products and services are
we offering to each Customer Segment?
Which customer needs are we satisfying?

CHARACTERISTICS
Newness
Performance
Customization
“Getting the Job Done”
Design
Brand/Status
Price
Cost Reduction
Accessibility
Convenience/Usability
What type of relationship does each
of our Customer Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?

EXAMPLES
Personal assistance
Self-Service, Community, Co-creation
CHANNEL PHASES
1. Awareness
How do we raise awareness about our company’s
products and services?
2. Evaluation
How do we help customer’s evaluate our organisation’s
Value Proposition?
3. Purchase
How do we deliver a Value Proposition to customer’s?
5. After Sales
How do we provide post-purchase customer support?


Through which Channels do our
Customer Segments want to be reached?
How are we reaching them now?
How are our Channels integrated?
Which ones work best or most cost-effective?
How are we integrating them with
customer routines?
For whom are we creating value?
Who are our most important
customers?

Mass market
Niche Market
Segmented
Multi-sided platform

What are the most important costs inherent in our business model?
Which key resources are most expensive?
Which Key Activities are most expensive?

IS YOUR BUSINESS MORE
Cost driven (leanest cost structure, maximum automation, extensive outsourcing)
Value Driven (focused on value creation, premium value proposition)

SAMPLE CHARACTERISTICS
Fixed Costs (salaries, rents, utilities) vs Variable costs
Economies of scale
Economies of scope


For what value are our customers really willing to pay?
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream
contribute to overall revenues?
TYPES FIXED PRICING DYNAMIC PRICING
Asset sale List price Negotiation (bargaining)
Usage fee Product feature dependent Yield management
Subscription fees Customer segment dependent Real-time Market
Lending/Renting/Leasing Volume dependent
Licensing
Brokerage fees
Advertising

Growth model
The tool captures the 'what' and maps these into trend clusters
Insights come from understanding the 'why' and 'how'
The tool provides the ingredients, they need time to 'cook'
The format is designed to promote interaction and dialogue
Understanding emerging patterns in a broader context helps to shift beyond familiarity, triggering fresh insights
Scaling up technology
Scaling up technology
Conclusions
Three aspects that will impact your ability to succeed in developing business in the world of the Internet of Things
Value proposition design
Escape the comfort of familiarity
Invest in insight creation
Design for (multiple) user's experiences
Prototype, communicate and test, test, test

Business model innovation
Involve the whole value chain
Look outside of your own (established) industry
Consider the role of the customer developing over time
Incorporate the design of growth from the start

Technology scalability
Integrate into the design process
Balance requirements and constraints
Design in context
Prototype, engage and test, test, test


and the ability to view these as dynamic and interrelated
www.creativeinnovationworks.com
www.theinternetofthings.eu
Lorna Goulden
user experience journey
The most important question in qualitative research is why? . . . why? . . . why?
Having pictures and props to discuss with users helps to guide the dialogue in different directions, keeping it alive
Enabling your team to experience 'a day in the life of' your customers (and partners) can be a powerful tool
Observe and engage with users
development
launch
platform
community
product family
content growth
ongoing roadmap
pre-launch
Network
Identity
Power
Data

Legislation

Scaling up technology
OSI model is a framework into which the various networking standards can fit
Open Systems Interconnection
Reference Model
the lower layers 1-3 deal with the mechanics of how information is sent from one device to another over a network

the upper layers 4-7 deal with how application software can relate to the network

the OSI model provides a convenient conceptual picture of how networking works

image courtesy of www.gargasz.info
Scaling up technology
Scaling up technology
tiny-circuits.com
microview.io
sunrisemicro.com
intel.com
scaling down size
Scaling up technology
reducing power
A platform and automation tool for designers to design and plan SoCs.

Placement options to help come up with the most efficient chip design

Communication channels optimised to fit the best PPA envelop (power, performance and area)

netspeedsystems.com
Scaling up technology
legislation and regulations
local vs global
communication
domain (eg. automotive, hospital)
data management and storage
content (DRM)
privacy and security
safety
materials and recycling

(if it is connected to the internet it can be hacked)
Internet of Things business models are never static
Business models
Designing the business model together with the value proposition is a core feature of integrative design
Consider the balance of emphasis between launching products and developing a relationship with customers
Business models in the Internet of Things domain are by default dynamic - design for change
one solution in different contexts generates a wider range of potential requirements
Ideas about system requirements can be explored and discussed
not all people think the same, writing stories is a good way of generating ideas
a range of solutions are created as you follow a users story across different locations
a storyboard tool is used to capture how a user interacts with your solution over time
Generate ideas
Generating ideas for your future business without new insights and triggers is like cooking without ingredients
Different idea generation templates encourages different perspectives and different requirements will emerge
Visualizing ideas not only helps to record and communicate it also forces a degree of consideration
we help you to innovate info@creativeinnovationworks.com
redesign my brain - make me creative (full episode 57 mins - video can be skipped at any point)
"analysis and creativity work differently in the brain"
© Maxmitzu | Dreamstime.com
Innovation mindset
Innovation is about treading unfamiliar paths
Familiarity
literally
feels more comfortable
. . . as it leads you away from disruption, towards mediocrity
What we already know is not what we
need
to know
To innovate requires the ability to shift your attention to discover what might be hiding in your blind spots
a practical approach to
innovation in the domain
of connected products, services and environments

integrating trends, insights,
idea generation and prototyping with dynamic business modeling
Fire Dragon images © Vasyl Duda | Dreamstime.com
© 2014 Creative Innovation Works
Experience prototyping is focused on understanding how the end user experiences your solution
"the expression of ideas is a commodity but the consideration and implementation of them is a scarce resource" Brian Solis, Altimeter group
Prototype to communicate and test, test and test again
Experience prototyping
Disruptive innovation
Mere Exposure Effect or Familiarity Principle
A psychological phenomenon by which people tend to develop a preference for things merely because they are familiar with them

In social psychology, this effect is sometimes called the familiarity principle

The mere-exposure effect exists in most areas of human decision making

Inattentional blindness
the invisible gorilla study has become one of the more famous experiments in psychology

In the lab and in real-life scenarios, even really smart people can become so focused that they fail to notice anything outside their expectations

1. We are blind to a lot of what happens around us
2. We are blind to our own blindness

Renowned scientist Isaac Asimov is generally credited with saying, “The most exciting phrase to hear in science, the one that heralds new discoveries, is not “Eureka” but “That’s funny…”


The monkey business illusion
Full transcript