The worlds of sensors, controls, computing and communications are each changing rapidly, while at the same time converging into an entirely new smart systems competitive arena. The forces at work in these sectors make strategic decision-making extremely difficult. The velocity of change in the marketplace conspires with the number of variables in play to overtax many managers’ ability to make confident and informed decisions.
This has two crucial effects on strategists: First, they need better market intelligence methods and frameworks for strategic decision-making. Second, while they are more likely to consult with outside advisors, they also need new, more efficient and effective modes of interaction with them. The Internet of Things is creating significant discontinuities in the marketplace. Knowing which use cases and applications to focus on, which business model to pursue, and which market relationships to create are becoming increasingly important for maintaining a competitive market position in today’s rapidly evolving marketplace.