Don’t reinvent the wheel when it comes to IoT
As a manufacturer, your goal is to quickly and consistently deliver differentiated value to customers through products powered by innovative technology.
Smart, connected and trusted technology has the potential to dramatically change how companies manage their processes and operations. By enabling your customers to achieve IoT-enhanced operations through remote asset monitoring solutions, you’re helping them operate more efficiently and setting your own organization up for success by generating new service models that lead to recurring revenue.
The path to successful IoT product development is about as complex and rigorous as its end results can be financially fruitful.
Since IoT is about delivering insights, and insights begin with a use case that defines the problem to solve up front, getting an IoT solution to market often requires careful planning, smart targeting, strategic partners and new expertise. Even seasoned OEMs need help with this, as IoT not only requires a new way of addressing both hardware and software needs, it also involves more stakeholders than traditional technology projects.
Manufacturers like you are under increasing pressure to deliver high-quality products and services that differentiate you from your competitors and delight your customers. The power of IoT holds unique promise for achieving success in this pursuit, but it’s hard to balance the investments you should make for tomorrow with the ROI-focused business pressures of today. Projects like these often deliver indirect or intangible results, and, because every company can become a technology company today, the pressure is on you to deliver a product to help these companies launch — and launch quickly.
Transforming your portfolio into a smart, connected and secure IoT-enabled product line is what your customers demand. Getting there can be difficult, costly and highly time-consuming.
The good news? Just because IoT isn’t one-size-fits-all doesn’t mean that organizations like yours have to reinvent the wheel to deliver IoT-enabled products to your increasingly expanding customer base.
To meet the expectations of startups and enterprises alike, you’ll need an IoT, AI and data platform that is not just secure and robust but also manageable and scalable. Such a platform facilitates the connection of devices, machines, people and systems to capture data, drive insights and take actions. And with it comes some overlapping technologies, protocols and specifics related to an industry or vertical market.
Your customers are looking to drive efficiencies, enhance cost-savings and make the most of their assets at every turn. By offering advanced IoT solutions, you’re helping them achieve just that — but that’s far from the end of the story. While you help optimize your customers’ businesses with cutting edge technology, AI and ML engines within your product are hard at work collecting and analyzing the data your customers accrue. This same data that benefits your customers is also highly valuable to you, as it can reveal significant insights into customer usage and ultimately lead you to refine your product, develop new solutions or even devise new, recurring revenue streams by establishing a service-based offering.