Data-Driven Business Models

Seluxit CEO, Daniel Lux, gave a talk at the “Iot i Praksis” (IoT in practice) event held by the technology cluster, BrainsBusiness in Aalborg the 27th of November.

The event addressed the growing number of companies that have IoT on their agendas in one for or another. Daniel explained how IoT opens up for data-driven business models through examples from Seluxit’s own activities for our clients.

Consider an example of a utility company and their customers. The utility company finds the fine-grained smartmeter data in the possession of the consumers attractive. But the data is in the consumers possession. The consumers are unlikely to find small payments interesting. However, new services based on their data could be attractive, for example an alarm or perhaps elderly monitoring. In the illustration here, we can see the value created by exchanging data and money. The utility gets their data, the consumers get an alarm application, and the utilities AI vendor gets payment.

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Written by Daniel Lux

I am a nerdy person who loves going into depth in diverse areas of knowledge. The less I know about a matter, the more I can learn. I always find it exciting to meet people with a different area of expertise from mine. Solving challenging problems is one of the most exciting things to do and working in a group is always more rewarding than working alone. Working with engaged, driven people, women, men, old, young, different professions, cultures, and religions is a great experience. In my work as co-founder of Seluxit, I have gained in-depth knowledge in the field of the Internet of Things, from wireless communication protocols, over cryptology and security, to cloud services and user interfaces. Doing an IPO with Seluxit in 2018 has been a fascinating journey and taught me a lot about business plans, due diligence, PR/IR, and how to professionalize and grow a listed company. Next to my work, I engage very actively in climate change discussions. My main focus is on finding solutions and the effects that CO2 has on our human body. You can find my articles about this subject on Medium and some videos on YouTube. I enjoy running, playing piano, and socializing to balance my busy work life in my free time.