Where is Technology Going?
The IoT will bring product Big Data to manufacturing companies allowing exhaustive analysis across multiple, and seemingly unconnected, stacks of data.
For example, companies can improve or introduce new products after comparing device usage against customer behavior patterns discovered from marketing studies.
Just think of the power of targeted marketing you see on Facebook and Google Adwords, and applying that precision to manufactured goods! The possibilities are endless!
Targeted marketing tracks usage patterns and serves advertising for products that match what individuals are most likely to consume. With advancements in production output like 3D printing, manufacturing cycle time will continue to shrink. Running shoe companies are already producing portions of their shoes using 3D printing to get them to market faster.
Manufactures, seemingly instantly, will be releasing iterations driven from patterns in customer behavior. Cost effective material changes will be conducted through better forecasting of raw material markets.
The concept of IoT goes beyond just smart connected devices.
It’s really about harnessing big data and transforming businesses into agile and efficient juggernauts.
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