48
F. Firouzi et al.
Minimum
Viable
A product with very few
features that nobody
wants to use it
Almost a complete
product with many
features
Minimum and Viable
1
4
2
3
MVP
Never
Maybe
Bells and whistles
(non-essential)
Implementation
Effort
Business
criticality
Fig. 1.12 Minimum viable product (MVP)
included in the MVP, we can classify the product features based on two dimensions,
namely, implementation effort and business criticality.
• Quadrant I – Features in this area are vital to the MVP because they are critical
to business success and are usually more straightforward to implement.
• Quadrant II – These features are nice, but they are not vital and are still easy to
implement. Leaving these out of the MVP saves both time and resources.
• Quadrant III – Features in this area are trivial and can be hard to implement.
They should be avoided in an MVP and in the following product iterations.
• Quadrant IV – These features are business critical, but are also arduous to implement. The elements in this quadrant need a maximum amount of deliberation and
thought.
1.6 Summary
This chapter introduced the Internet of Things (IoT) with several definitions and discussed the benefits and challenges of establishing the IoT. There are advantages to be
gained in the personal lives of individuals as well as the operations of businesses and
manufacturers. This chapter discussed all the promises and challenges of IoT. The
complete IoT stack from the sensors and devices, to the fog, and to the cloud has also
been explained. There are several commercial frameworks, cloud technologies, and
IoT-enabled devices and ecosystem providers, which we presented their offerings
briefly. Next, some examples of the applications of IoT technology have been listed
with their expected impacts to varied sectors of our society, from agriculture to the
cities in which we live. Finally, the details of the business implications, business
models, and opportunities of IoT have been addressed.
F. Firouzi et al.
Minimum
Viable
A product with very few
features that nobody
wants to use it
Almost a complete
product with many
features
Minimum and Viable
1
4
2
3
MVP
Never
Maybe
Bells and whistles
(non-essential)
Implementation
Effort
Business
criticality
Fig. 1.12 Minimum viable product (MVP)
included in the MVP, we can classify the product features based on two dimensions,
namely, implementation effort and business criticality.
• Quadrant I – Features in this area are vital to the MVP because they are critical
to business success and are usually more straightforward to implement.
• Quadrant II – These features are nice, but they are not vital and are still easy to
implement. Leaving these out of the MVP saves both time and resources.
• Quadrant III – Features in this area are trivial and can be hard to implement.
They should be avoided in an MVP and in the following product iterations.
• Quadrant IV – These features are business critical, but are also arduous to implement. The elements in this quadrant need a maximum amount of deliberation and
thought.
1.6 Summary
This chapter introduced the Internet of Things (IoT) with several definitions and discussed the benefits and challenges of establishing the IoT. There are advantages to be
gained in the personal lives of individuals as well as the operations of businesses and
manufacturers. This chapter discussed all the promises and challenges of IoT. The
complete IoT stack from the sensors and devices, to the fog, and to the cloud has also
been explained. There are several commercial frameworks, cloud technologies, and
IoT-enabled devices and ecosystem providers, which we presented their offerings
briefly. Next, some examples of the applications of IoT technology have been listed
with their expected impacts to varied sectors of our society, from agriculture to the
cities in which we live. Finally, the details of the business implications, business
models, and opportunities of IoT have been addressed.