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08 - Kaushal Mishra - IOT Assignment

The document discusses a platform business model as a popular IOT application business case. A platform business model facilitates transactions between large networks of users through ecosystems. Platforms are organized around user experiences and minimize transaction costs. Successful platform models are open, accessible, and easy to build upon, enabling faster innovation.

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Kaushal Mishra
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46 views2 pages

08 - Kaushal Mishra - IOT Assignment

The document discusses a platform business model as a popular IOT application business case. A platform business model facilitates transactions between large networks of users through ecosystems. Platforms are organized around user experiences and minimize transaction costs. Successful platform models are open, accessible, and easy to build upon, enabling faster innovation.

Uploaded by

Kaushal Mishra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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IOT ASSIGNMENT 08_Kaushal Mishra

Consider A Business Model (Popular Business Case of IOT Application)


Give Two Success Factors of This Business Model

Ans:
1.Platform Business Model
A platform is a kind of business model that takes advantage of ecosystems, facilitating
transactions between large networks of users such as sellers and buyers, drivers and
riders, hosts and guests.

It allows users to do amazing things:


Platforms are able to deliver amazing results for two broad reasons.

One, they are organised around the user experience, what a user is trying to achieve and
meeting their needs by coordinating and integrating products and services from across an
ecosystem of producers.

Two, platforms minimise users’ transaction costs to such an extent that they become
negligible.

Like Amazon, which offers small businesses all that they need to get up and running,
everything from web services, business analytics and logistics to fulfilment, payments and
lending in one place. The draw access to Amazon’s 200 million plus unique visitors every
month.
In order to scale, platforms have to be open accessible and easy to build off. When they are,
innovation happens faster around a platform than in traditional business. Amazon has
more than 10,000 APIs.

Platforms are valuable to own:


Seven of the world’s ten most valuable companies are platform-based businesses.

This value comes from three things:

1. One, they create and shape their own big markets.

2. Two, platform-based businesses create and capture value very differently from
traditional business models.

3. Three, platform businesses enjoy unique economics as they grow


IOT ASSIGNMENT 08_Kaushal Mishra

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