• 1 Industrial Engineering Department, Facultad de Ingeniería y Arquitectura, Universidad Nacional de Colombia, Manizales 170003, Caldas, Colombia
  • 2 Air Institute, IoT Digital Innovation Hub, 37188 Salamanca, Spain
Sensors (Basel), 2021 Jan 06;21(2).
PMID: 33418918 DOI: 10.3390/s21020328


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.

* Title and MeSH Headings from MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine.