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    ISDM Group Project Presentation - Connected Wearables

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    devina2689
    The focus of our survey and presentation is to analyze the role of connected wearables in the emerging trends of Internet of Things (IoT) and Big Data, particularly their applications in the healthcare industry and to make insightful recommendations. The IoT is a concept that describes how the Internet is being used to link smart devices (e.g., connected wearables), conventional consumer items, and physical assets so that these new endpoints can create, collect and receive a data stream.

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    ISDM Group Project Presentation - Connected Wearables

    Uploaded by

    devina2689
    24 views12 pages
    The focus of our survey and presentation is to analyze the role of connected wearables in the emerging trends of Internet of Things (IoT) and Big Data, particularly their applications in the healthcare industry and to make insightful recommendations. The IoT is a concept that describes how the Internet is being used to link smart devices (e.g., connected wearables), conventional consumer items, and physical assets so that these new endpoints can create, collect and receive a data stream.

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    The focus of our survey and presentation is to analyze the role of connected wearables in the emerging trends of Internet of Things (IoT) and Big Data, particularly their applications in the healthcare industry and to make insightful recommendations. The IoT is a concept that describes how the Internet is being used to link smart devices (e.g., connected wearables), conventional consumer items, and physical assets so that these new endpoints can create, collect and receive a data stream.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    24 views12 pages

    ISDM Group Project Presentation - Connected Wearables

    Uploaded by

    devina2689
    The focus of our survey and presentation is to analyze the role of connected wearables in the emerging trends of Internet of Things (IoT) and Big Data, particularly their applications in the healthcare industry and to make insightful recommendations. The IoT is a concept that describes how the Internet is being used to link smart devices (e.g., connected wearables), conventional consumer items, and physical assets so that these new endpoints can create, collect and receive a data stream.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 12

    Car/Business

    Information Exchange Platform


    on Smartphone

    Group 2: Devna Sharma, Pattom Sebastian


    Roland (Chia-Tsu) Tseng, Steven (Sin Gwoo) Kang
    Product Concept
    Smartphone collects vehicle’s data and transmits to data center
    This business model is about data collection but not controlling a vehicle

    Data Collection Data Transmission Data Analysis Data Usage


    (Stakeholders)

    1. Data is collected 1. Collected data Analyzed data can be 1.Car dealer


    via Bluetooth transmits to data very accurate CRM 2.Insurance
    connection center periodically information Company
    2. Car mileage, through internet 3. Local Service
    maintenance history, connection Provider
    current state of 4. Driver
    vehicle

    Data collection via a smartphone can be applied to two-sided network effect


    Value Proposition

    • Analyzed data itself can be CRM


    1 Car Dealer • Service offer based on accurate data
    • Right promotion to right customers

    • Better estimation for premium based on


    2 Insurance Company driver’s driving behavior
    • Motivate the drivers to be a risk averse

    • LSP updates their special offer to App as Ads


    3 Local Service Provider • Platform finds out the best-offered service
    provider on the local

    • Easier to track the maintenance history


    4 End User • Motivate safe driving with premium discount
    • Recommendation on the best offer
    What’re Already There in the Market?
    • Vehicle Security & Remote Control Solution
    • Enables drivers to monitor their vehicles’ security status and control them
    remotely using a smartphone app.

    • Driving Behavior-based Car Insurance


    • Allows insurance companies to monitor motorists’ driving behavior as the
    base to calculate discount of insurance premiums

    • Fleet Management
    • Helps fleet owners to receive and manage real-time reporting of productivity,
    service level, safety, cost control, eco status, and compliance
    IT Enablers Behind
    • Technologies Applied in Common
    • Telematics
    • LBS
    • Cloud Computing

    • The linkage to a CRM solution creates a new business


    model of two-sided market
    LBS

    Cloud
    Telematics Computin
    g

    CRM
    Innovative Sustainability

    People Involved: Tech experts, Technology: The app will be for Equipment: For cars that are not
    mechanics and software developers, both android and iOS users. Profits high end or do not have a pre-installed
    marketing teams from auto insurance will be driven from the sales of the hardware system (in-car module like
    firms, advertisement gurus for social hardware (with sensors) which we will BMW), users will have to install the
    media platforms be selling to the auto dealers. They hardware telematics device that will
    will install the equipment for the users. speak to all the sensors installed in their
    cars, and transmit the data collected.

    Partnerships/Alliances: Auto insurance


    Channels: Our hardware companies (StateFarm, Progressive, etc) will help
    distribution will be through the auto to market hardware and software. Local service
    dealers and mechanics providers (mechanics, gas stations) too will help
    influence customers to install the hardware.
    Disruptive Effect
    Our app will act as a disruptor for :
    1. High-end car manufacturers like BMW, Ford etc. who develop their
    proprietary car-management system app since they can control both the "hardware"
    (in-car module) and "software" (Android, iOS apps)
    2. 3rd party/independent vendors (e.g. connect2car)
    Both currently only provide features such as car locking, start/stop, GPS tracking etc.

    Users will be drawn to downloading one app that provides additional benefits of
    lowered insurance payment, keeps track of services needed by the car, makes car
    maintenance much easier.
    Auto insurance companies and car manufacturers would want to partner
    because of the potential for a large audience that can be targeted.

    Local service providers would benefit from getting better idea about customer
    demand in the area and be able to offer deals to users.
    Developers will be drawn to the two sided market once sufficient adoption is
    reached within the user base. Building on an open platform will allow hardware to be
    assessable through apps that work for both Android and iOS.
    Revenue Model

    Initial Revenue Matured Market


    Expectations Revenue Expec-
    End users
    LSPs
    (sales of tations
    hardware
    (advertising units)
    and CRM)
    75% End Users 40% End Users
    Insurance LSPs LSPs
    Companies 20%
    (data to better
    10% Insurance Insurance
    predict
    premiums) Companies 40% Companies
    15%

    Nationwide, Florida has the 5th largest number of car


    dealerships, 3rd largest number of new-car
    registrations and is the 5th highest in average auto
    Profits insurance paid (2014 figures). These factors, make it
    a good option for initial setup.
    For the End Users

    • $100 — Basic Package


    • Only 60% of the platform functions are integrated; data retention period
    is 1 year; analysis models used can offer basic analysis reports.

    • $200 — Standard Package


    • Up to 80% of the platform functions are integrated; data retention period
    is 1 year; analysis models used can offer standard analysis reports

    • $300 — Professional Package


    • 100% of the platform functions are integrated; data retention period is 1
    year; analysis models used can offer standard analysis reports
    Revenue Generation
    CAR DEALERSHIPS AND LOCAL SERVICE PROVIDERS
    • In 2014, the number of car dealerships in the US was 16,396 Market Size
    • From this, aftermarket income for service contracts contribute to 18% of the gross profit $1.6 mil/month @
    for new and used car sales where as finance and insurance contribute to 20%
    • Important to note that service contract penetration is only 39% of all new vehicles $100 monthly
    retailed. subscription
    • Highest portion of dealership advertising is in Internet advertising averaging $130,324
    per dealership

    END USERS
    • There are currently 113.7 million vehicles (public and private passenger vehicles) in the
    US with the average miles travelled per licensed driver per year being 14,085 miles (US) Market Size
    $11 bil @
    $100 package

    INSURANCE COMPANIES
    • Irregular premiums statewide with minimal data analysis predictors from driver behavior
    • Potential to better understand and leverage premiums once there is widespread adoption
    Market Size
    of the technology Depends on
    customer adoption
    THANK YOU

    Questions
    ?
    Sources
    • http://www.google.com/publicdata/explore?ds=gb66jodhlsaab_&ctype=l&met_y=Vehicles
    • http://www.naic.org/documents/prod_serv_statistical_aut_pb.pdf
    • https://www.nada.org/nadadata/

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