Opportunities for product differentiation, new revenue, & customer loyalty
Like you, many companies are looking for better ways to:
- increase sales
- reduce labor costs
- reduce operational costs
- improve service levels
- compete with competitors overseas
Its challenging to do more with less, incremental advancements in product design, operations can only go so far. Growth rates are slowing.
You need more innovative approach that can leverage recent advancements in communication, sensors, cloud-computing, & machine learning.
Tapping into data from your products and equipment reveals new opportunities that you can exploit.
And it’s working …
Bain predicts B2B #IoT will generate more than $300B annually by 2020, including about $85B in the industrial sector.
The global IoT market will grow from $157B in 2016 to $457B by 2020, attaining a CAGR of 28.5%.
Here are the Top 5 ways of adding value to your customers through networked products.
MOBILE APPS – that control a product, often improves the user experience. They also create opportunities for up-selling, improving customer loyalty, and getting user feedback.
REMOTE SERVICE features often improve product quality and reliability. Monitoring for problems, and fixing issues remotely is a major differentiator when downtime can have a big impact on overall operation.
DATA INTEGRATION – between systems and departments often improves throughput and reliability. Real-time status enables managers to make better, decisions. Systems integration & automation eliminates work and streamlines processes.
PREDICTIVE ANALYSIS improves product reliability and sophistication. Predicting failures, replacement parts enable your customers to work smarter.
PRODUCT ECO-SYSTEMs often improve your ability to add features for many user segments. Rather than building a specific enhancement, allow users to access machine data and build their own solutions.
Connected Product Examples
Compressors that you can monitor and control remotely
“I can see my pump status, and turn them on off remotely on my phone without driving out to each site.”
Equipment that can be fixed and updated remotely without a service call
“Customers rarely call the help desk; problems are detected and fixed remotely before customer complain.”
A product that learns and improves how it works based on customer use
“The system automatically figures out usage patterns and saves power and ink based on our job types.”
The Internet of things is changing how you compete and deliver value
LiveIntersect uses sensor data, machine rules, and predictive features to notify your customers or service before problems arise.
HOW TO GET STARTED
After 15+ years, we have created a Lean loT methodology and an loT Application Enablement Platform for testing and implementing new innovative connected smart product concepts.
Our projects leverage your internal strengths, and augment your team with technical expertise to help create: