Monetizing Industry 4.0 and IoT Data for Marketing and Sales

Coleman, SY; Ahlemeyer-stubbe, A

doi:10.1002/9781118445112.stat08313

Monetizing Industry 4.0 and IoT Data for Marketing and Sales

Lookup NU author(s): Dr Shirley Coleman ORCiD

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This is the authors' accepted manuscript of a book chapter that has been published in its final definitive form by John Wiley & Sons, Ltd., 2020.

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Abstract

Astute companies are well aware of the importance of data arising from Industry 4.0 sensors that measure and record all aspects of production and service. They are able to develop new business models, initiate disruptive innovations, and open up new sources of revenue. At the same time, society is becoming more and more familiar with data from the so‐called IoT, the Internet of Things. The less‐technical areas of marketing and sales can also benefit from this mass of data, and it is this vital part of the business chain upon which this article focuses. The article explains some essential technologies, methods, and skills as well as critical success factors.