Smart and connected physical products enable numerous novel value creations based on embedded sensor data. However, during the product design process, it appears that these value-creation opportunities are not sufficiently explored. To address this gap, a general and accessible ideation tool is proposed to structure a systematic exploration. The tool has been developed from the data sheets of a large number of various embedded sensors. A non-exhaustive list of 14 main sensor capabilities was thus structured to form the core of the tool. During the creative phases of product design, these capabilities are combined with a convenient set of inputs to support the generation of value-creation concepts. A focus group to evaluate the tool was carried out with a medium-sized manufacturer of connected shared city bikes. Expert product designers generated concepts with and without the tool. The results of the experiment suggest that the tool enables the generation of concepts that are more novel and of better quality in comparison to traditional ideation approaches. In addition, participants reported a high level of appreciation for the tool. They also noted a high level of creative exploration and collaboration facilitated by the tool.