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What is the Internet of Things?

IoT vs IoPThe Internet of Things Meets the Internet of People:  In the not too distant future, hundreds of millions, then billions, of individuals and businesses, with billions, then trillions, of smart, communicating devices, will stretch the boundaries of today’s business and social systems and create the potential to change the way we work, learn, entertain and innovate.

Forging collaborative communities means managing uncertainty. A product OEM needs a clear understanding of the forces at work between and among devices and people. They must try to identify those few “interactions” that make a difference. From this understanding provided via real time interactions, early indicators of the true direction of customer needs and behaviors can be understood long before others.

To achieve success, companies will need to recognize the new opportunities for innovation driven by a collaborative community—from customers, from partners, from your own people. This will require new thinking, including:

Understand The Entire Customer Experience By Inviting The Customer To Participate: Companies often fail to make products with the right benefits because they don’t have a good understanding of what their customers are trying to achieve and how they want to achieve it. Customer behavior is complex, but a product OEM can increase its chances of success by understanding the “customer lifecycle experience”: discovery, purchase, first-use, ongoing-use, management and disposal.

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