Business strategy and innovation framework for the industrial IoT

The Industrial Internet Consortium (IIC), the global, member-supported organization that promotes the accelerated growth of the Industrial Internet of Things (IIoT), announced the publication of the Business Strategy and Innovation Framework (BSIF). The BSIF helps enterprises to identify and analyze issues that must be addressed to capitalize on the opportunities emerging within the IIoT.

The BSIF serves as a reference document for chief executives in enterprises planning to engage in IIoT concepts. A single-source compendium of the issues and challenges enterprises should consider before they deploy IIoT initiatives, the BSIF details frameworks and concepts to help enterprises increase value for users, customers and partners while at the same time helping to reduce market and technical uncertainties.

The BSIF outlines a comprehensive set of best practices for companies engaging in IIoT, but companies are free to adopt a lighter touch or use an existing internal project model, especially within smaller companies.

Alternatively, a range of project support processes may already be in place and the approach documented in the BSIF may be used to enhance existing infrastructures to address new IIoT opportunities (particularly for larger companies).

“The new business strategy and innovation framework highlights the tremendous opportunities in the Industrial Internet. The document talks about essential technology elements and business challenges, as well as risks. It recognizes that security is an essential element of any IIoT deployment. Connecting everything industrial to potentially everything else in the world, directly or indirectly, creates tremendous opportunities, both for us and for our attackers. At Waterfall Security, we are committed to ensuring the safe and reliable operation of physical industrial processes. Towards that goal, Waterfall’s Unidirectional Security Gateway technology is a major pillar in any security framework involving IIoT deployments,” Andrew Ginter, VP of Industrial Security at Waterfall Security, told Help Net Security.

The BSIF is the most in-depth Industrial IoT-focused business strategy framework comprising expert vision, experience and business strategy best practices from IIC members, including Bosch Software Innovations, InterDigital, Hewlett Packard Enterprise, and Machina Research.

The BSIF is available free of charge here.