IoT Data: Key to Future Product Innovation

Nowadays, IoT has become essential to driving innovation in manufacturing as well as product development. Due to IoT, companies can now interpret how, when as well as under what specific conditions products are being utilized.

Before the implementation of IoT as part of product development, the reality of operations involved in-person inspections, trial and error R&D cycles and marketing focus groups to interpret utilization and requirement. While various features can add extra value, keeping unused or old functions, add cost that has to be supported.

IoT data can be utilized to recognize new and required features products, and, more essentially, evaluate a product’s requirement to be criticized. It is the aspect that easily could not be done before IoT because there has never before been the kind of data precision coming from the devices themselves about particular features that may be required or may not be helpful.

Smarter Products

Still, IoT connectivity has been around for a while and we are much in the early stages of its development, specifically regarding culling the data connected products produce. However, many manufacturers are learning that smart products provide huge insight into which features are being utilized every day, which ones are utilized sometimes and which ones easily aren’t striking the mark.

As we go more inside, there’s also an abundance of data on smart product relationships — how products connect and the effect the utilization of one connected product has on how, when, where, and why another one is utilized. Let’s take an example of a connected kitchen, where various devices communicate with one another. The data can present the numerical impact that connected products have on each other and, in some cases, recognize relationships that may not have been so clear at first glance.

IoT data can also inform manufacturers when anything goes wrong and what factors may lead to the concern. For example, is it a remote incident, or does the concern arise whenever particular factors leading to the problem occur? This data can sparkle a light on anything from fundamental performance concerns to potential security issues.

This data enables manufacturers to monitor it and allows them to make intelligent updates to the product, build a new product.

More Structured Production

To take the importance of IoT data to one level up, it is also essential to look at how connectivity can help in producing intelligent products. Industrial IoT is the next phase of the IoT revolution, as connected devices within a manufacturing facility can release a wealth of data related to specific aspects of smart product production.

For example, there may be intervals from one stage of the manufacturing process to the next that may not be recognizable without the connected data. Sensors can also notify that a piece of machinery requires repair or is on the edge of failing altogether. The latter gives decision-makers the capability to proactively resolve the problem and limit potential production slowdown or obstruction.

IIoT data can also reveal possible manufacturing safety risks, like potentially vicious interactions between connected machinery. Also, wearables can analyze the vital signs of those working in the plant, which can signal possible health concerns. By connecting documented and current data, suggestions for increasing the overall safety of a plant become clear.

Whether for easy operations or to assure the safest possible work environment, IIoT data can provide insight into how to keep a consistent flow of production, which, in turn, will play a part in getting a product to market and assuring post-launch demand.

Acquiring Data Where It requires to Be

Gathering data and taking out its insights represents an essential step toward market differentiation. Still, for most organizations, there is a final and often tricky difficulty to clear. Here are three things that every organization requires to do:

• Generally we ignore an age where each department has its own sets of data that never go beyond its four walls, and this is particularly important as it relates to IoT data. The whole premise of IoT data is outlined on how data communicate to generate new insights.

Innovative product manufacturers who adopt this on a micro and macro level are the ones who will make the most progress. They are the industries that will make sure that appropriate data gets to those who require to utilize it.

• When innovative new insights are discovered, assure that stakeholders are aware of them and describe why insights matter to individual departments and the industry as a whole. Doing so will assure that everyone is in the same space related to the overall health of the product’s development.
• While it’s important to enhance data sightlines, it’s just as crucial not to overload stakeholders. There is so much data that it’s easy to expend time making sense of reports that don’t support a project to keep on time and strike critical product development milestones.

The next generation will be more transformative for smart product manufacturers who already embraced IoT data analysis.

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