Comparison of Business Model Development Frameworks with regard to IoT

Abstract

With the Internet of Things being one of the most discussed trends in the computer world lately, many organizations find themselves struggling with the great paradigm shift and thus the implementation of IoT on a strategic level. The Ignite methodology as a part of the Enterprise-IoT project promises to support organizations with these strategic issues as it combines best practices with expert knowledge from diverse industries helping to create a better understanding of how to transform into an IoT driven business. A framework that is introduced within the context of IoT business model development is the Bosch IoT Business Model Builder. In this study the provided framework is compared to the Osterwalder Business Model Canvas and the St. Gallen Business Model Navigator, the most commonly used and referenced frameworks according to a quantitative literature analysis.