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Discovering the Value Creation System in IoT Ecosystems

Industrial Engineering Department, Facultad de Ingeniería y Arquitectura, Universidad Nacional de Colombia, Manizales 170003, Caldas, Colombia
Grupo de Investigación Inteligencia Artificial, Departamento de Sistemas e Informática, Facultad de Ingenierías, Universidad de Caldas, Manizales 170004, Caldas, Colombia
Departamento de Ciencias Computacionales, Doctorado en Ciencias Cognitivas, Universidad Autónoma de Manizales, Manizales 170001, Caldas, Colombia
Air Institute, IoT Digital Innovation Hub, 37188 Salamanca, Spain
Bisite Research Group, University of Salamanca, 37007 Salamanca, Spain
Department of Electronics, Information and Communication, Faculty of Engineering, Osaka Institute ofTechnology, Osaka 535-8585, Japan
Pusat Komputeran dan Informatik, Universiti Malaysia Kelantan, Kelantan 16100, Malaysia
Author to whom correspondence should be addressed.
Sensors 2021, 21(2), 328;
Received: 22 November 2020 / Revised: 28 December 2020 / Accepted: 30 December 2020 / Published: 6 January 2021
(This article belongs to the Special Issue Evolution of Distributed Computing in Sensor Systems)
Internet of Things (IoT) should not be seen only as a cost reduction mechanism for manufacturing companies; instead, it should be seen as the basis for transition to a new business model that monetizes the data from an intelligent ecosystem. In this regard, deciphering the operation of the value creation system and finding the balance between the digital strategy and the deployment of technological platforms, are the main motivations behind this research. To achieve the proposed objectives, systems theory has been adopted in the conceptualization stage, later, fuzzy logic has been used to structure a subsystem for the evaluation of input parameters. Subsequently, system dynamics have been used to build a computational representation and later, through dynamic simulation, the model has been adjusted according to iterations and the identified limits of the system. Finally, with the obtained set of results, different value creation and capture behaviors have been identified. The simulation model, based on the conceptualization of the system and the mathematical representation of the value function, allows to establish a frame of reference for the evaluation of the behaviour of IoT ecosystems in the context of the connected home. View Full-Text
Keywords: value creation; IoT ecosystem; value offer; system dynamics; value capture; business model value creation; IoT ecosystem; value offer; system dynamics; value capture; business model
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MDPI and ACS Style

Lopez, C.A.; Castillo, L.F.; Corchado, J.M. Discovering the Value Creation System in IoT Ecosystems. Sensors 2021, 21, 328.

AMA Style

Lopez CA, Castillo LF, Corchado JM. Discovering the Value Creation System in IoT Ecosystems. Sensors. 2021; 21(2):328.

Chicago/Turabian Style

Lopez, Carlos A., Luis F. Castillo, and Juan M. Corchado. 2021. "Discovering the Value Creation System in IoT Ecosystems" Sensors 21, no. 2: 328.

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