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Industrial Internet of Things (IIoT) : Its Significance in Business Models
Devarshi Chatterjee Prof (Dr) Devapriya Chatterjee
Abstract:
The most significant growth in the environment of Internet, by way of connecting the objects of daily use to the internet, is the Internet of Things (IoT), that has the ability of communication between devices and perceive the external stimuli. The most crucial fact about the concepts of industrial business is Industrial Internet of Things (IIoT). as the organizations make their focus on operational efficiency, and the models of business. Our paper makes the research on Industrial Internet of Things (IIoT), on the basis of the details, that could be obtained from Internet of Things (IoT), and make the gap analysis in the notion of the models of business for Industrial Internet of Things (IIoT). The main aim of our research is to make the finding for the various types of models of business, the study of practicality and the mode of their working. The relevant need for the research is to design the possible models of business, in a framework of Industrial Internet of Things (IIoT), that could be utilized as traditional models of business. After an exhaustive research was made for the notion of Industrial Internet of Things (IIoT), from the viewpoint of business, the sustainable models of business and the useful criteria, could be established with ease. It is proposed to establish a framework of model of business of Industrial Internet of Things (IIoT). relying on the complexity, as well as the dynamics of the notion of Industrial Internet of Things (IIoT), incorporating the strategies of business, and providing a flexible approach to the organizations. The model of business could be utilized in any situation of industrial business.
