At the core of business is value creation and it’s no different when using IoT.  This course focuses on how to create transformative value with IoT and then how to monetize it.  It demonstrates the true innovation in IoT is not the tech but how we can use and monetize the tech for business.  The ICIP Business course has 16 modules with 67 video lessons.  Watch select lessons by clicking the

MODULE 1: INTRODUCTION

1.1 WELCOME AND OVERVIEW (5m 4s) 

A welcome from instructor Bruce Sinclair, his qualifications, industries covered and an overview of the ICIP Business course.

1.2 PREREQUISITES (0m 43s) 

No hard prerequisites but useful to have a basic understanding of business and IoT tech, including data science.  Best to first take the ICIP Technology course.

MODULE 2: TECH OVERVIEW

2.1 OVERVIEW (1m 36s)

Provides an overview of the technology of the Internet of Things. You need to understand how it works, before you can put it to work.

2.2 BUSINESS VIEW OF TECH (4m 18s)

Describes how to view Internet of Things technology from a value perspective, the best approach for designing a smart product and which tech holds the value and as such, should be the manager’s priority.

2.3 THE BUSINESS VIEW (6m 28s)

Provides a high level summary of each of the six technologies of the Internet of Things and how they map to IoT components that must be purchased to develop a smart product, system or environment.

MODULE 2 QUIZ

Asks questions about the three lessons in module 2.

2.4 MODULE 2 Q&A AND EXTRA MATERIAL (2m 8s)

Answers module 2 questions and points to other material to learn more about the tech overview.

MODULE 3: THE DIGITAL VALUE CREATION FRAMEWORK

Provides an overview of how to create value with the Internet of Things which starts with the technique of value modeling.

3.2 THE FOUR WAYS TO CREATE VALUE (0m 41s)

Explains how incremental value is created in IoT. Learn the four main ways IoT can be used to create value and how they are similar and dissimilar to creating vale with IT.

3.3 VALUE MODELING (7m 23s)

Breaks down the process of value modeling. Learn the step by step process of how to create value for any smart product, going beyond merely creating a connected or smart product.

3.4 TOP AND BOTTOM LINE VALUE (3m 33s)

Explains the four different ways to create value in the Internet of Things and where that value shows up on the Profit & Loss (P&L) statement.

MODULE 3 QUIZ

Asks questions about the four lessons in module 3.

3.5 MODULE 3 Q&A AND EXTRA MATERIAL (3m 31s)

Answers module 3 questions and points to other material to learn more about the IoT value creation framework.

MODULE 4: MAKE PRODUCTS BETTER – INNOVATION

4.1 OVERVIEW (1m 13s)

Provides an overview of how to create value with the Internet of Things by making products better – also referred to as innovation.

4.2 MEDICAL INSTRUMENT EXAMPLE (2m 55s)

Uses a commercial Internet of Things example of a medical instrument to demonstrate how to create value by making a product better.

4.3 EXAMPLE REQUIREMENTS (4m 51s)

Explains the requirement process that is done during value modeling by continuing with the IoT medical instrument example.

MODULE 4 QUIZ

Asks questions about the three lessons in module 4.

4.4 MODULE 4 Q&A AND EXTRA MATERIAL (1m 47s)

Answers module 4 questions and points to other material to learn more about making products better.

MODULE 5: OPERATE PRODUCTS BETTER – OPERATIONAL EFFICIENCY

5.1 OVERVIEW (3m 28s)

Provides an overview of how to create value with the Internet of Things by operating products better – also referred to as operational efficiency.

5.2 SMART GRID EXAMPLE (1m 58s)

Uses an infrastructure Internet of Things example of an electric grid to demonstrate how to create value by operating a product better.

5.3 EXAMPLE REQUIREMENTS (6m 12s)

Explains the requirement process that is done during value modeling by continuing with the Internet of Things electric grid example.

MODULE 5 QUIZ

Asks questions about the three lessons in module 5.

5.4 MODULE 5 Q&A AND EXTRA MATERIAL (1m 33s)

Answers module 5 questions and points to other material to learn more about operating products better.

MODULE 6: SERVICE PRODUCTS BETTER – ASSET UTILIZATION

6.1 OVERVIEW (3m 22s)

Provides an overview of how to create value with the Internet of Things by servicing products better – also referred to as asset utilization, which includes predictive maintenance.

6.2 BWE EXAMPLE (5m 18s)

Uses an industrial Internet of Things example of a Bucket Wheel Excavator to demonstrate how to create value by servicing a product better.

6.3 EXAMPLE REQUIREMENTS (8m 11s)

Explains the requirement process that is done during value modeling by continuing with the IoT mining equipment example.

MODULE 6 QUIZ

Asks questions about the three lessons in module 6.

6.4 MODULE 6 Q&A AND EXTRA MATERIAL (1m 13s)

Answers module 6 questions and points to other material to learn more about servicing products better.

MODULE 7: MAKE NEW PRODUCTS… BETTER – INVENTION

7.1 OVERVIEW (2m 58s)

Provides an overview of how to create value with the Internet of Things by making new products… better – also referred to as invention.

7.2 SMART WATCH EXAMPLE (5m 46s)

Uses a consumer Internet of Things example of a smart watch to demonstrate how to create value by making new products… better.

7.3 EXAMPLE REQUIREMENTS (2m 59s)

Explains the requirement process that is done during value modeling by continuing with the IoT quantified self watch example.

7.4 FINAL THOUGHTS (1m 56s)

Demonstrates how the four methods of value creation can be applied to our examples of commercial IoT, industrial IoT, infrastructure IoT and consumer Iot.

MODULE 7 QUIZ

Asks questions about the four lessons in module 7.

7.5 MODULE 7 Q&A AND EXTRA MATERIAL (1m 4s)

Answers module 7 questions and points to other material to learn more about making new products better.

MODULE 8: THE DATA-DRIVEN BUSINESS MODEL FRAMEWORK

8.1 OVERVIEW (4m 26s)

Explains the second fundamental concept of business – monetizing value. In IoT, innovation also comes in the form of the IoT business models which are best explained by the data-driven business model continuum.

8.2 THE DATA-DRIVEN BIZ MODEL CONTINUUM (2m 48s)

Describes the main business models supported by the Internet of Things, describes the order in which they are generally deployed and their high-level characteristics.

8.3 VALUE PRICING (2m 49s)

Discusses how to use the Internet of Things to price your products, programs and services based on the value they deliver to your customers.

MODULE 8 QUIZ

Asks questions about the three lessons in module 8.

8.4 MODULE 8 Q&A AND EXTRA MATERIAL (1m 59s)

Answers module 8 questions and points to other material to learn more about the IoT business model framework.

MODULE 9: THE PRODUCT BUSINESS MODEL

9.1 PRODUCT BUSINESS MODEL (4m 21s)

Describes the product business model in the context of the Internet of Things, when it should be used and the best practices to follow.

9.2 IMPLEMENTATION CONSIDERATIONS (0m 38s)

Describes the practical implementation issues that must be taken into account when deploying the product Internet of Things business model.

MODULE 9 QUIZ (1m 28s)

Asks questions about the two lessons in module 9.

9.3 MODULE 9 Q&A AND EXTRA MATERIAL (1m 28s)

Answers module 9 questions and points to other material to learn more about the product business model.

MODULE 10: THE PRODUCT-SERVICE BUSINESS MODEL

10.1 PRODUCT-SERVICE BUSINESS MODEL (2m 23s)

Dissects the hybrid product -service business model, discusses why it is important and how IoT makes it a powerful competitive advantage.

10.2 MORE EXAMPLES (2m 6s)

Provides more examples by applying the product-service business model to examples in consumer, commercial, industrial and infrastructure IoT.

10.3 IMPLEMENTATION CONSIDERATIONS (0m 49s)

Describes the practical implementation issues that must be taken into account when deploying the product Internet of Things business model.

MODULE 10 QUIZ

Asks questions about the three lessons in module 10.

10.4 MODULE 10 Q&A AND EXTRA MATERIAL (0m 32s)

Answers module 9 questions and points to other material to learn more about the product-service business model.

MODULE 11: THE SERVICE BUSINESS MODEL

11.1 SERVICE BUSINESS MODEL (2m 28s) 

Explains why the service business model has been limited, until recently, to monetizing software and how IoT enables any physical product to be monetize in this way.

11.2 MORE EXAMPLES (2m 7s)

Provides more examples by applying the service business model to examples in consumer, commercial, industrial and infrastructure IoT.

11.3 IMPLEMENTATION CONSIDERATIONS (2m 59s)

Describes the practical implementation issues that must be taken into account when deploying the service Internet of Things business model.

MODULE 11 QUIZ

Asks questions about the three lessons in module 11.

11.4 MODUE 11 Q&A AND EXTRA MATERIAL (0m 38s)

Answers module 11 questions and points to other material to learn more about the service business model.

MODULE 12: THE SERVICE-OUTCOME BUSINESS MODEL

12.1 SERVICE-OUTCOME BUSINESS MODEL (1m 44s)

Dissects the hybrid service-outcome business model, and discusses why it’s important and how it’s being used today.

12.2 MORE EXAMPLES (2m 3s)

Provides more examples by applying the service-outcome business model to examples in consumer, commercial, industrial and infrastructure IoT.

12.3 IMPLEMENTATION CONSIDERATIONS (0m 59s)

Describes the implementation issues that must be taken into account when deploying the service-outcome Internet of Things business model.

MODULE 12 QUIZ

Asks questions about the three lessons in module 12.

12.4 MODULE 12 Q&A AND EXTRA MATERIAL (0m 23s)

Answers module 12 questions and points to other material to learn more about the service-outcome business model.

MODULE 13: THE OUTCOME BUSINESS MODEL

13.1 OUTCOME BUSINESS MODEL (2m 47s)

Outlines the outcome-based business model is, the data requirements to deployed it and how it has already started to revolutionize business.

13.2 MORE EXAMPLES (3m 36s)

Provides more examples by applying the outcome business model to products in consumer, commercial, industrial and infrastructure IoT.

13.3 IMPLEMENTATION CONSIDERATIONS (1m 30s)

Describes the practical implementation issues that must be taken into account when deploying the outcome Internet of Things business model.

13.4 BUSINESS MODEL AS A FEATURE (0m 40s)

Makes the case that as IoT technology matures with IoT platforms and ecosystems to deliver outcomes, eventually the business model becomes the only feature.

MODULE 13 QUIZ

Asks questions about the four lessons in module 13.

13.5 MODULE 13 Q&A AND EXTRA MATERIAL (0m 38s)

Answers module 13 questions and points to other material to learn more about the outcome business model.

MODULE 14: RISK MANAGEMENT FRAMEWORK & PRIVACY

14.1 OVERVIEW (1m 31s) 

Provides an overview of Internet of Things risk management and assessment, the business counterpart to cybersecurity technology.

14.2 INVENTORY (1 53s)

Describes step 1 of Internet of Things risk management and assessment.

14.3 ASSESSMENT (1m 10s)

Describes step 2 of Internet of Things risk management and assessment.

14.4 CALCULATE RISKS (1m 33s)

Describes step 3 of Internet of Things risk management and assessment.

14.5 BALANCE RISKS COSTS (2m 4s)

Describes step 4 of Internet of Things risk management and assessment.

14.6 EXAMPLE (3m 15s)

Uses an industrial Internet of Things example to demonstrate the risk management and assessment process used to prioritize cybersecurity requirements.

14.7 PRIVACY (5m 32s)

Goes through one of the most discussed risks in the Internet of Things – privacy. Looking at it from a B2C and B2B perspective as well as from a US, EU and Asian perspectives.

MODULE 14 QUIZ

Asks questions about the seven lessons in module 14.

14.8 MODULE 14 Q&A AND EXTRA MATERIAL (2m 48s)

Answers module 14 questions and points to other material to learn more about the risk management framework and privacy.

MODULE 15: THE CHANGING CUSTOMER RELATIONSHIP

15.1 OVERVIEW (2m 54s)

Provides an overview of how the brand, manufacturer and enterprise can use the Internet of Things to establish a deeper and more meaningful relationship with their customer.

15.2 FROM CASUAL TO INTIMATE (1m 10s)

Outlines how IoT can be used to get closer to the customer and how this alignment produces more benefits than just increased profitability.

15.3 UPSIDE FOR ALL (3m 9s)

Explains the various advantages vendors and their customers gain from a partnership enabled by Internet of Things technology.

15.4 INCREASED LIFETIME VALUE (1m 18s)

Discusses how using IoT to establish a closer customer relationship increases customer lifetime value – one of the most important metrics for any company.

MODULE 15 QUIZ

Asks questions about the four lessons in module 15.

15.5 MODULE 15 Q&A AND EXTRA MATERIAL (2m 18s)

Answers module 15 questions and points to other material to learn more about the changing customer relationship.

MODULE 16: CONCLUSION

16.1 MAIN TAKEAWAYS (1m 36s)

Reinforces the nine main takeaways that should be clearly understood after taking the ICIP Business course.

16.2 NEXT STEPS (0m 50s)

Suggested next steps to take after completing the ICIP Technology course.

Back to ICIP Program Description