Platform Revolution: How Networked Markets Are Transforming the Economy and How to Make Them Work for You: How Networked Markets Are Transforming the Economy―and How to Make Them Work for You

by Geoffrey G. Parker

• Security: using platform-based networks to protect industrial assets from attacks • Network: designing, building, and servicing the networks that will link and control industrial tools • Connected services: developing software and systems to manage the new networks • Product as a service: transitioning industrial companies from selling machines and tools to selling services facilitated by platform connections • Payments: implementing new ways to create and capture value from industrial equipment • Retrofits: equipping the $6.8 trillion worth of existing industrial machinery in the U.S. to participate in the new industrial Internet • Translation: teaching a wide array of devices and software systems to share data and communicate with one another • Vertical applications: finding ways to connect industrial tools at various places in the value chain to solve specific problems