Creating Values out of Internet of Things: An Industrial Perspective

Abstract

Internet of Things based cloud is envisaged to extract values other than the specified purpose for which it is to be utilized. It is hereby apprehended that different genre of values, rather business values, could efficiently be assimilated from the Internet of Things cloud platforms. It is also investigated to identify numerous domains of applications that are currently being associated with the similar cloud platforms. A case study on various types of value generation methods has been performed. A novel Internet of Things cloud stack is proposed to disseminate and aggregate the business values. Few research challenges are observed that shall need appropriate indulgence to generate more business values out of Internet of Things based cloud. This paper also seeks few research and industry related problems that need to be resolved. It further recommends several key parameters to the enterprise and government policymakers that should immediately be dealt with for long-term success.