I found the 8U approach effective to think about different business value propositions and business models for Industry 4.0. Enterprises and service providers should think about eight attributes (all starting with U) – utilization, usefulness, uncertainty, updation, uniqueness, uncomfortableness, unavailability, and unfriendliness – while deciding business value proposition and business models of their Industry 4.0 solutions. These attributes can be of machine or humans or both. Sometimes more than two Us can be combined to bring out the right business value proposition.
These 8Us apply to IoT business models beyond Industry 4.0 also.
