IoT analytics brings new levels of innovation to new product development
Studies show that around 40% of products fail. But what if product designers could understand what features are most and least popular, which components tend to fail sooner than others, and how customers actually use products versus how designers think they use them? And, what if product developers could then utilize these insights to develop products that perform better, potentially cost less and, most importantly, are aligned with actual customer needs?
Innovative product development teams in pretty much every industry are beginning to look at ways to translate enormous streams of real time machine data into actionable information to improve the product development process by understanding where product innovation is necessary, which features are most desirable, and how to lower their overall cost of ownership.
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