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Improving business process and functionality using IoT based E3-value business model

Author

Listed:
  • Alaa Shoukry

    (King Saud University
    Workers University)

  • Jameel Khader

    (King Saud University)

  • Showkat Gani

    (King Saud University)

Abstract

The rapid development of the internet and its technologies helps enhance business models, product lifecycles, and services, etc. In addition, the Internet of Things (IoT) manages platforms for e-business and functionality. Even though the IoT-based e-business model improves overall business possibilities, it has several issues such as exact information on business assets and difficulties in the requirements analysis as well as in managing the large volume of business data. This paper introduces the E3-value business model for examining each requirement that successfully predicts the core elements of business, distribution channels, company propositions, and so on. The E3-value model examines the business processes, business segments, interfaces, value objects, and value offerings that successfully defines business and the related business functionality used to improve the overall performance of the business process. The developed method successfully overcomes the abovementioned issues, and the excellence of the IoT-based e-commerce system is evaluated using a relevant medical e-business process case study. Further, the efficiency of the system is evaluated using business process accuracy, end-user satisfaction, the Magnitude Relative Error, and the Pearson Correlation Coefficient.

Suggested Citation

  • Alaa Shoukry & Jameel Khader & Showkat Gani, 2021. "Improving business process and functionality using IoT based E3-value business model," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(1), pages 17-26, March.
    • Handle: RePEc:spr:elmark:v:31:y:2021:i:1:d:10.1007_s12525-019-00344-z
    DOI: 10.1007/s12525-019-00344-z
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    References listed on IDEAS

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    Cited by:

    1. Gunasekaran Manogaran & Naveen Chilamkurti & Ching-Hsien Hsu, 2021. "Internet of Things for Electronic Markets," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(1), pages 13-15, March.
    2. Sunil Mithas & Zhi‐Long Chen & Terence J.V. Saldanha & Alysson De Oliveira Silveira, 2022. "How will artificial intelligence and Industry 4.0 emerging technologies transform operations management?," Production and Operations Management, Production and Operations Management Society, vol. 31(12), pages 4475-4487, December.
    3. Graziela Molling & Amarolinda Zanela Klein, 2022. "Value proposition of IoT-based products and services: a framework proposal," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(2), pages 899-926, June.

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