As we’ve discussed a few times before, building an IoT-enabled product goes far beyond just connecting a device to the Internet. It’s more about gathering data, making that data actionable and using that information to enhance the customer experience. Billing a product as a “smart” product brings with it a much different set of customer expectations than those of traditional product companies. The logic goes like this: since the product is connected and data is being collected, product companies can’t just take the advantage of that information to enhance their business, but are also beholden to it.
What most companies looking to become connected product companies get most excited about is collecting the IoT data and what that information can do to enrich their business. Who their customers are, what features they use most, etc. But equally as important is operational data – the information that helps determine device health and performance like online status, necessary firmware upgrades, experienced errors, and the like. This information is worth its weight in gold. Here’s why.
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