A KPI Set for Steering the IoT Business in Product Companies: Product companies can use the key performance indicators set presented here to manage their Internet of Things business effectively and avoid three pivotal measurement traps. Issue 2 (22nd February 2022)

• Record Type: Journal Article
• Authors: Lamprecht, Claudio; Gebauer, Heiko; Fleisch, Elgar; Wortmann, Felix
• Is Part Of: Research technology management. Volume 65:Issue 2(2022)
• Page Start: 53
• Page End: 63
• Publication Date: 2022-02-22
• Subjects: Internet of Things -- Performance management -- Performance measurement system -- Key performance indicators -- Performance metrics; Research, Industrial -- Management -- Periodicals; New products -- Management -- Periodicals; 658.57
• DOI: 10.1080/08956308.2022.2015951
• Languages: English
• ISSNs: 0895-6308

Abstract

: Overview: The Internet of Things (IoT) offers product companies the opportunity to develop an IoT business. Existing performance measurement systems (PMS) are unsuitable for measuring and managing the business logic of IoT business. Based on research conducted with 31 product companies, we present three measurement traps, a key performance indicators (KPI) set suited for steering IoT business in product companies, and three recommendations for implementing the KPI set. Companies can use the KPI set to manage their IoT businesses more effectively and avoid the measurement traps.