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Augmented reality sensor data creates a feedback loop for businesses to better understand how a product is being used and where opportunities for customization exist.
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Modest questions about how today’s problems could be solved more effectively lead to applications of technology with easily foreseeable gains. But when people start asking bigger, bolder questions that challenge basic assumptions about how a problem has been framed, they open up space for breakthrough innovations. That’s been the pattern in many digital realms, including cybersecurity, artificial intelligence, and the internet of things.
What’s happening this week at the intersection of management and technology: Three stages of digital transformation; questions for digital disruptors; IoT and blockchain in the supply chain.
IoT, a “worldwide platform of platforms,” offers power for companies who can capture its value. Watch as Professor Marshall Van Alstyne, author of Platform Revolution, offers insights on how platform strategy and IoT combine to produce value for all players in the ecosystem, using his research and real-life examples. Learn what what platform strategy is and how companies are using IoT to advance their platform strategies
The Internet of Things represents an unprecedented opportunity for businesses. To realize IoT’s full economic impact, however, businesses should adopt a “systems” rather than a “things” mindset. By doing so, they will see the value of using IoT data to understand—and then optimize—complex systems, be they supply chains, production plants or smart cities. By investing in an integrated, scalable analytical platform, businesses can open up possibilities for staff to make sense of the data generated by IoT and realize its transformational promise.
Steve Schwinke, a member of the original design team for General Motors’ OnStar service and director of its Global Connected Customer Experience unit, says that GM is leveraging the Internet of Things to deliver products and services that consistently ensure the safety of its customers. “I always talk to my team about the Wayne Gretzky quote — skate to where the puck is going,” he says. “How good are we at really anticipating? What are the things that our customers need but don’t know they need?”
Products connected to the Internet of Things are providing unprecedented levels of information that can be used to improve both products and customer experience. For instance, a company does not have to wait until a customer calls with a complaint to know that a product connected to the Internet of Things is not working correctly. Instead, the product could already communicate the information, giving the company the ability to provide proactive service. Result: more loyal customers.
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