Data Strategy and IoT Business Models

Singapore University of Social Sciences

Data Strategy and IoT Business Models (AIT505)

Applications Open: 01 May 2024

Applications Close: 15 June 2024

Next Available Intake: July 2024

Course Types: Modular Graduate Course

Language: English

Duration: 6 months

Fees: $2200 View More Details on Fees

Area of Interest: Science and Technology

Schemes: To be confirmed

Funding: To be confirmed

School/Department: School of Science and Technology

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Synopsis

Almost every organization has the buy-in from its senior management for carrying out AI and IoT projects for enhancing the business. However. AI and IoT is not mere collection of data and storing them in archives. The IoT projects must not be like adding sensors, retrieving the data and displaying them to the stakeholders as value-add. The IoT projects must be properly and carefully designed to capture and deliver long-term innovative and differentiated value. Thus a proper data strategy and use of appropriate IoT business model is crucial. This course introduces data strategy, challenges in data integration and the IoT business models.

Level: 5
Credit Units: 5
Presentation Pattern: EVERY JULY

Topics

IoT data capture and management
Data volume, complexity, security and privacy
IoT Business Model
IoT product development and monetization
Subscription-based model
Outcome-based model
Asset sharing model
Asset tracking model
Compliance model
Data-driven model
Razorblade model
Pay-per-usage model

Learning Outcome

Discuss the methods available for capturing data.
Examine the complexity and volume of data that can be generated by an IoT system.
Compare the different business models available to monetize the proposed IoT solution.
Recommend appropriate business models for the proposed IoT system.
Plan a strategy for data capture and management.
Appraise the resources required for the IoT solution.