HBR: How Smart, Connected Products Are Transforming Competition

From the intro to an in-depth article by by Michael E. Porter and James E. Heppelmann at the Harvard Business Review website:

"Information technology is revolutionizing products. Once composed solely of mechanical and electrical parts, products have become complex systems that combine hardware, sensors, data storage, microprocessors, software, and connectivity in myriad ways. These “smart, connected products”—made possible by vast improvements in processing power and device miniaturization and by the network benefits of ubiquitous wireless connectivity—have unleashed a new era of competition.

Smart, connected products offer exponentially expanding opportunities for new functionality, far greater reliability, much higher product utilization, and capabilities that cut across and transcend traditional product boundaries. The changing nature of products is also disrupting value chains, forcing companies to rethink and retool nearly everything they do internally."

Read the rest here: http://goo.gl/IgylZs

Visit HBR's Insight Center on the Internet of Things: http://goo.gl/ZAcNx0

 

Source: http://goo.gl/IgylZs