Product managers want to take advantage of the latest technology trends.
You can use IoT to
make your product more competitive,
add supplemental revenue streams,
increase product volume,
updated products using customer usage data
and much more.
Customer demands are changing. Consumers can buy smart products to control their thermostat, lights, door lock, and sprinkler system. Consumers can see or control just about everything from their smart phone. Why can’t your product work like a smart home appliance?
Product managers can use Internet of Things technologies to build smart connected products, but there are risks to be aware of when building a business case and building a technology environment. Many IoT products are cool ideas but have failed commercially – in fact Cisco reports over 70% of IoT projects are considered a failure.
In the video series below, Asad Jobanputra describes 5 successful IoT business case models with real world case study examples.