Creating a Business Model for an Industrial Monitoring Application
Cuellar, Karen (2025)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025121235715
https://urn.fi/URN:NBN:fi:amk-2025121235715
Tiivistelmä
The purpose of this thesis was to develop a business model to commercialize an industrial management and monitoring web application service at an MVP level. During several years in business, the case company has witnessed a shift in their competitive outlook. The case company, motivated by these changes that included new competitors, limited scalability, and high-investment costs, decided to develop a business model that would pave the way to exploring a new market: an industrial application.
The study was conducted using an applied action research approach leveraging qualitative data collection methods, including interviews and on-site workshops of the case company and customer.
The theoretical framework of the study rests on three pillars including Business Model Canvas, Business Aware Design, and Business Model Template. The study also utilized the theory of industrial maintenance strategies and monitoring applications for minimizing downtimes and improving equipment performance by implementing computerized monitoring systems. This knowledge was used as the basis for developing the initial proposal for the company.
The outcome of this thesis is the business model for the case company for commercializing the industrial management and monitoring web application service at an MVP level. The business model represents the starting point for the company to commercialize their service in its current phase and thus maximize the value of the application even at an early development stage. The model is highly specific to this company’s context and as the development of the application progresses, a revisit to this business model is required.
The study was conducted using an applied action research approach leveraging qualitative data collection methods, including interviews and on-site workshops of the case company and customer.
The theoretical framework of the study rests on three pillars including Business Model Canvas, Business Aware Design, and Business Model Template. The study also utilized the theory of industrial maintenance strategies and monitoring applications for minimizing downtimes and improving equipment performance by implementing computerized monitoring systems. This knowledge was used as the basis for developing the initial proposal for the company.
The outcome of this thesis is the business model for the case company for commercializing the industrial management and monitoring web application service at an MVP level. The business model represents the starting point for the company to commercialize their service in its current phase and thus maximize the value of the application even at an early development stage. The model is highly specific to this company’s context and as the development of the application progresses, a revisit to this business model is required.