When you start to think about the smart, connected product capabilities and features you might want to add to your products, it can get pretty complex, pretty quickly.
When you start to think about the smart, connected product capabilities and features you might want to add to your products, it can get pretty complex, pretty quickly.
As with any new opportunity, there are risks involved. Understanding what these are will mean you’re in a position to mitigate them.
Manufacturers must begin to transform existing business processes and fundamentally rethink how they create, operate, and service smart, connected products in the IoT. For those that get it right, the future represents a huge opportunity to create product and service advantage:
Understanding the Impact of the IoT [Infographic] exactly how the Internet of Things is going to impact both you and your company is a real challenge. With the way technology is shifting, it can be hard to keep up.
If you’re the head of a company that’s been making pumps for the last 100 years, your company knows your product and knows what the definition of a pump should be. But now the definition of ‘what is a product’ is changing and it’s changing fast. So how is it that you can keep up to date and remain relevant in a world when your bread and butter product is below the price of entry in a competitive marketplace?
Over the last 10 years there’s been the trend for including embedded software and electronics (it’s almost certainly a trend that’s now ingrained in the way that you work). But now a new challenge is emerging; moving from a smart pump to a smart, connected pump. There are new technological opportunities that need embracing, but it’s hard to know where to start. After all there’s now big data, security, mobility, cloud and so on – a whole host of areas you never had to think about before.
Along with the increases in product and service capabilities, where value and differentiation sit for companies has moved. Manufacturers now have opportunities to create new sources of competitive advantage, but only if they heed the three essential value shifts:
You've probably started to hear more and more people talk about the Internet of Things. As a concept, it has huge potential for us. But what actually is it all about and how is it going to impact on our lives.
You’re no doubt familiar with the trend for smart products - perhaps you are even reading this blog on your smartphone or tablet. But this trend for smart products is not just referring to phones and computers. It can refer to any product that has the ability to behave in a smart way.
We are seeing the emergence of a smart, connected world. We’re at the start of an impressive wave of new innovation.