Professor Michael Porter of the Harvard Business School, and Jim Heppelmann, President and CEO of PTC, coauthored the definitive articles on the Internet of Things (IoT) published in the Harvard Business Review. The first article, How Smart, Connected Products Are Transforming Competition, examines the impact on industry competition and corporate strategy. In their follow up article, How Smart, Connected Products Are Transforming Companies, the impact on companies’ operations and organizational structure is defined.
What the IoT Means to Manufacturers
What’s transformative about the IoT isn’t the internet itself, but the changing nature of “things” – the products that you engineer, manufacture, operate and service. It is the expanded capabilities of these smart, connected products and the data they generate that are ushering in a new era of competition.
Most manufactures have ambitious goals: To spark innovation and design the best products. To improve manufacturing processes, deliver great service experiences, and ultimately to outperform the competition. PTC has the playbook for how manufacturers accomplish these goals today, in a smart, connected world.
Building IoT Solutions Requires a Platform Approach
Building a complete system for IoT solutions can be a huge undertaking for even the most resourceful companies. It requires a lot of expert know-how, time, and capital – and in the end, companies end up plagued by long IT project cycles and low return on investment. The ThingWorx IoT platform was purpose-built to fundamentally change how we connect, analyze, manage, and experience all “things” in our smart, connected world.