It should be clear by now to observers of how businesses who are being successful are changing. For them IoT is not just another name for Technology or a Delivery Channel but it is a Pervasive Customer Engagement Productization.
As Technologies come and go, Customers are eternal
What is an IoT Product?
An IoT Product is not the envelope, like a website, app or another container, but the thing that is purchased, transferred or acquired. An IoT Product is pervasive (accessible anywhere on any device, platform and mental model) and modular, designed to be portable, while maintaining all the associated complex information, languages and cultural context, findability, regulatory compliance and trace route for quality, feedback and development.
A IoT Product is the virtualisation of DATA that describes the product uniquely (SELF), its history (LIFE) and ecosystem contracts and policies (USAGE)
Where does an IoT Product live?
An IoT Product comes from an IoT Product Ecosystem that has both directly related bolt-on and ancillary upgrades and other domain related tangible and intangible Products and Services.
How do Businesses get IoT Products?
IoT Products are created by responding to clear signals from people in the market.
IoT Products don’t invent themselves
Creating IoT Products in unqualified hands means someone tells you an idea, you pay for it, they walk away and then you change the KPI’s because the idea you bought has no foundations and does not deliver to your business goals and objectives.
IoT Products always have a value model, ROI model a planned life and death built in
Though not always evident when first launched to the customers an IoT Product will have planned financial or gain attributes. They will be easily acquired by their intended customers and be desirable by others.
IoT products are often found through Big Data projects in a data exchange between different business seeking to extend the value of their current data. These Big Data projects drive huge profits not relative to start-up costs but gained by market capture.
Who creates IoT Products?
There are two aspects of creating an IoT Product, the Product Ecosystem and the IoT Product, which are combined in IoT Productization.
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