Smart, connected products consist of elements- physical components, smart components and connectivity components. The smart components amplify the capabilities of the physical components. And connectivity components amplify the capabilities of the smart components to enable some of them to exist outside the physical product. This cycle helps in value improvement.
What do Smart, Connected Products Do?
When intelligence and connectivity combine, they can do wonders. Smart, connected products can enable an entirely new set of capabilities and functions.
Capabilities of Smart, Connected Products
Here are the four capabilities of smart, connected products that help transform competition.
Smart, connected products enable users to do comprehensive monitoring of a product’s operations, condition and external environment. This is done using sensors and external data sources. The product can alert the users in case of any changes in its function or environment. Monitoring can also help users understand the history and functions of a product to keep track of where and how the product is used.
Moreover, data monitoring can help with warranty compliance issues and new sales. Monitoring is the core value in some products like medical devices and its capabilities can scan several products across distances.
You can use remote commands or algorithms built into the device or in the product cloud to control smart, connected products. These algorithms guide the product to respond to changes. You can customize the product performance effectively like never before through control embedded in the product or cloud. This technology also enables you to personalize interactions with the product in several ways.
The ability to monitor and control data from smart, connected products enables users to optimize product performance in several ways. This optimization can be done applying algorithms and analytics to historical data to significantly improve performance.
Monitoring data on product conditions and control capability in real-time enables users to perform preventive maintenance to optimize services when repairs are done remotely. The advanced information about the fixes, damages, parts needed and how to fix it can reduce costs and make the repairs efficient even during on-site repairs.
The capabilities of smart, connected products to monitor, control and optimize enable these products to achieve great autonomy. Autonomy helps in reducing the need for operators and enhances safety in dangerous environments. Products can learn about their environment and user behavior and self-diagnose their servicing needs.
Moreover, autonomous products can coordinate with other products and systems and grow exponentially as more products get connected. These products can ultimately act with total autonomy and use data related to performance and environment to communicate with each other and respond to patterns.