Abstract

The internet-of-things (IoT) can change not only products but also companies’ whole business model. The goal of this article is to inform companies about the creation of business intelligence via utilisation of the industrial IoT. This review article assumes that combining business excellence, service design and knowledge gathering via data engineering into cognitive infocommunication (CogInfoCom) opens new possibilities to develop business ideas. These new possibilities are examined through a literature review on deployments of industrial IoT solutions. The survey responds to two research questions: what methods of knowledge gathering and business excellence are used in industrial IoT-based product, service and process innovations? How can knowledge gathering, business excellence and CogInfoCom methods be utilised to create added value in industrial IoT solutions? This survey reveals the richness and delicacy of these exploitation opportunities.