Monetizing Industry 4.0 and IoT data for Marketing and Sales - Data Collected from Processes in Smart Factories

Coleman, SY; Ahlemeyer-Stubbe, A

doi:10.1002/9781118445112.stat08311

Monetizing Industry 4.0 and IoT data for Marketing and Sales - Data Collected from Processes in Smart Factories

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

In smart factories, sensors measure and communicate all aspects of production and service. Clever companies are well aware of the importance of such data arising from Industry 4.0. 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 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. This article discusses concrete examples from the area of smart factories. It describes the data which is generated and shows value creation opportunities for marketing and sales both in large companies and small or medium enterprises (SMEs).