A Data-Driven Business Model Framework for Value Capture in Industry 4.0

Schaefer, Dirk ORCID: 0000-0002-5695-9312, Walker, Joel and Flynn, Joseph (2017) A Data-Driven Business Model Framework for Value Capture in Industry 4.0. In: 15th International Conference on Manufacturing Research (ICMR) 2017, 2017-9-5 - 2017-9-7, Greenwich, UK.

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Abstract

Manufacturing is undergoing a period of intense change as a result of advanced smart technologies, such as real-time sensors and the Industrial Internet of Things (IIoT). This has paved the way for a new era of digitized manufacturing known as Industry 4.0. It is anticipated that Industry 4.0 will be disruptive enough to present both new opportunities and threats to firms within a new competitive landscape. Manufacturers will be forced to adopt new business models to effectively capture value from the emerging smart technologies. A literature review revealed that few studies have addressed business models for Industry 4.0. Hence, this research addresses: What fundamental principles should companies in the manufacturing industry consider when adopting a data-driven business model? An analysis of four case studies on data-driven business models revealed significant common attributes. Through a SWOT analysis, twelve model principles for implementing a data-driven value capture framework could be identified.

Item Type:	Conference or Workshop Item (Unspecified)
Uncontrolled Keywords:	Industry 4.0, Digital Manufacturing, Data-Driven Business Models
Depositing User:	Symplectic Admin
Date Deposited:	08 Sep 2017 09:15
Last Modified:	01 Feb 2024 18:54
DOI:	10.3233/978-1-61499-792-4-245
Related URLs:	Author
URI:	https://livrepository.liverpool.ac.uk/id/eprint/3009338