Smart, connected technologies are leading companies into more and more innovation. The opportunities and growth potential seem limitless. Technology has become so critical that a large number of companies focus on improving their already smart products. The trick is that in order to mange this additional complexity companies need to perfect and refine their development processes.
This eBook from Tech-Clarity outlines some helpful steps to a successful product transformation.
1. Refine Your Strategy for IoT (Internet of Things)An important part of defining should include identifying what parts of the strategy will be determined during initial planning and which parts will be worked out once you move into the development phase. The very core of your business can change as you make these types of products so you need to take into consideration new functions that that never had to be considered before and will now become important during development. According to Tech-Clarity's research, Top Performers are 3.1 times more likely than Average Performers to have an IoT strategy in place.
2. Consider How IoT Transforms Your Business Model
Using the IoT to develop connected products can have such an impact on your business, it may even change how you think about products and what it is you sell. Will it be a product, service(s), or a combination? What types of unique experiences will customers pay for?
Seems simple, but this is a critical step that will dictate the rest of your strategy and product requirements.
3. Extend the Product Ecosystem
Once you know what you are going to sell, you'll need to think about the "ecosystem" you need to offer those services. Will you need outside partners or will you use your existing offerings? Will you develop part of the ecosystem yourself? What expertise and tools will you need?
The ecosystem encourages innovation, but it also expands the development team. Consequently, you want to make sure you are getting the right people involved from the very beginning
4. Determine the Data Collection Strategy
Your products will allow you to collect data, and it is ideal for you to have a plan in place around what data to collect and how you will obtain it. As you determine what data to collect, think about how other internal groups could benefit from it and have a purpose for how it will be used. While there is a lot of information you can collect, too much data can quickly become overwhelming unless you have a plan for its use and how it will be analyzed.
5. Select the Right Software Tools
When developing a smart, connected product, you will need software tools that have been optimized for specific tasks, yet can still integrate with other solutions. Collaboration is already a significant challenge for developing regular products, let alone smart products, so it is critical that you select that right software and technology that will enable collaboration across your entire team.
Here at TriMech, we provide thousands of engineering teams with a range of 3D design and rapid prototyping solutions that work hand-in-hand from sketch to manufacturing, so we know about integration and collaboration. We offer the entire SOLIDWORKS product portfolio and other software that you and your team may find to be a benefit to your process. I encourage you to speak with a sales rep at TriMech or check out our website for more information about different tools and solutions we offer.
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