Outcome Economy Definition | IoT ONE Digital Transformation Advisors

Terms Glossary O Outcome Economy

Edit This Term Record

	Outcome Economy

Outcome Economy

Formal	An economic relationship in which payment is attached to a value achieved, rather than a service or product. Digital devices on edge are powering an Outcome Economy and enabling a new business model that shifts the focus from selling things to selling results. Read More
Practical	Digital devices on the edge are powering an Outcome Economy and enabling a new business model that shifts the focus from selling things to selling results. A marketplace where businesses compete on their ability to deliver quantifiable results that matter to customers rather than just selling products or services, e.g. energy saved, crop yield or machine uptime. Delivering customer outcomes requires sellers to take on greater risks. Managing such risks requires automated quantification capabilities made possible by the Industrial Internet. Read More
Contents

Formal

An economic relationship in which payment is attached to a value achieved, rather than a service or product. Digital devices on edge are powering an Outcome Economy and enabling a new business model that shifts the focus from selling things to selling results.

Practical

Digital devices on the edge are powering an Outcome Economy and enabling a new business model that shifts the focus from selling things to selling results. A marketplace where businesses compete on their ability to deliver quantifiable results that matter to customers rather than just selling products or services, e.g. energy saved, crop yield or machine uptime. Delivering customer outcomes requires sellers to take on greater risks. Managing such risks requires automated quantification capabilities made possible by the Industrial Internet.

Overview

Outcome Economy