TCI 2016 Taking Advantage of the Internet of Things
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By Kathleen Mitford, presented at the 19th TCI Global Conference, Eindhoven, 2016.
![Titel presentatie
[Naam, organisatienaam]
Summit Day – Scientist forum on Smart Specialisation related to clusters
Kathleen Mitford
GM, IoT Solutions
Taking Advantage of the
Internet of Things](https://image.slidesharecdn.com/tci2016summit9novkathleenmitford-161114151856/85/TCI-2016-Taking-Advantage-of-the-Internet-of-Things-1-320.jpg)
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TCI 2016 Taking Advantage of the Internet of Things
- 1. Titel presentatie [Naam, organisatienaam] Summit Day – Scientist forum on Smart Specialisation related to clusters Kathleen Mitford GM, IoT Solutions Taking Advantage of the Internet of Things
- 2. Kathleen Mitford GM, IoT Solutions Taking Advantage of the
- 7. Jim Heppelmann President and CEO, PTC Prof. Michael Porter Harvard Business School “Smart, connected products represent the third wave IT-driven competition, where IT is becoming an integral part of the product itself, creating massive amounts of new data.” “Smart, connected products are transforming how companies design, manufacture, operate and service products, and ultimately, how they organize to create and capture value.” November 2014 October 2015
- 8. SOFTWARE HARDWARE APPLICATIONS APPLICATION PLATFORM ANALYTICS DATABASE NETWORK COMMUNICATION Physical Product Digital Product Connectivity
- 9. 1. Monitor 2. Control 3. Optimize 4. Automate
- 10. System Of SystemsProduct System Smart, Connected Product Smart Product Product WEATHER DATA SYSTEM IRRIGATION SYSTEM SEED OPTIMIZATION SYSTEM FARM EQUIPMENT SYSTEM Rain, humidity, temperature sensors Weather maps Weather forecasts Weather data application Farm performance database Seed database Seed optimization application Field sensors Irrigation nodes Irrigation application Farm Management System Platform TILLERS PLANTERS TRACTORS Farm Equipment System COMBINE HARVESTERS
- 11. + Less dependence on mechanical components – Greater power of IT vendors Threat of Substitute Products or Services Threat of New Entrants Rivalry Among Existing Competitors Bargaining Power of Suppliers + Higher barriers to entry – New entrants can leapfrog incumbents + Opportunities for differentiation +/– Rivalry shifts to systems – Higher utilization and product sharing reduce volume +/– Systems disintermediate discrete products Bargaining Power of Buyers Bargaining Power of Channels + Reduced dependency on channels/ service partners + Expanded opportunities for differentiation, segmentation, switching costs
- 12. ▪ Sourcing physical parts and inventory management can often be simplified, reducing dependency on those suppliers ▪ New and potentially powerful suppliers of technology, connectivity and services expand the role of procurement Bargaining Power of Suppliers Connectivity / Analytics Infotainment / Software
- 13. 1 2 3 4 56 7 8 9 1 0 Which product capabilities to pursue? Functionality: embedded in the product vs. the cloud? Open or closed system? Technology development: internal or outsource? What data to capture? How to manage data rights and access? Disintermediate distribution or service channels? Change the business model? Sell data to outside parties? Expand scope?
- 14. ▪ What is the role of partners in your distribution channel? ▪ Would the end-customer value direct interaction? ▪ What percentage of partner activities could be replaced with digital services? 7 Disintermediate distribution or service channels? © PTC, 2016
- 15. The changing nature of products is disrupting value chains, forcing companies to rethink and retool nearly everything they do.” “
- 16. Low Cost Variability and Evergreen Improvement New User Interfaces Connected Service and New Business Models New Principles of Product Design
- 17. Continuously Operated, Modified and Enhanced Industry 4.0 & Smart Manufacturing Rethink Manufacturing and Ongoing Product Operation Smart Tools and Smart Work Instructions
- 18. Analysis of Usage Data Anticipates Problems Remote Diagnostics Allow for One-Stop Service AR Enabled Service and Training New Service Delivery Approaches
- 19. CEO FINANCE HUMAN RESOURCES IT CUSTOMER SUCCESS MANAGEMENT R&D MANUFACTURING MARKETING SALES SERVICEAND SUPPORT DEV-OPS UNIFIED DATA ORGANIZATION
- 20. Jim Heppelmann President and CEO, PTC Prof. Michael Porter Harvard Business School 1101 0101 Data and Insights Smart, Connected Products Human Experience “AR delivers data from smart, connected products and other sources in context to enable humans to more efficiently understand and act on these insights.” WHAT’S NEXT
Notas do Editor
- Today we see some CLEAR EXAMPLES of this physical and digital convergence ACROSS INDUSTRIES AND BUSINESS FUNCTIONS Here are 4 examples that should resonate with most of our customers: IoT/Smart, Connected Products: Physical products are embedded with software and sensors to enable new capabilities and generate a wealth of new data about their performance, usage and environment. This enables John Deer’s Farmsight to optimize the farm and the Babolat tennis racket improve player performance. Smart Manufacturing/Industry 4.0: In a factory setting the physical and digital worlds are also converging. Industrial connectivity and data analytics enable a closed-loop, real time Digital Thread that connects people, systems, and equipment inside factories, improving quality and efficiency. Connected Service/Maintenance: Another opportunity created by the physical and digital convergence is in service. Remotely Monitor, Diagnose, and Repair smart connected products and factory equipment with IoT and AR applications to increase customer satisfaction and reduce costs with remote service Smart Cities, Fields, & Worksites: Many of these smart connected products are being deployed across cities, worksites and fields. ThingWorx enables rapid creation and deployment of new IoT applications and AR experiences that connect, manage, and optimize these complex sets of disparate sets of connected things.
- Today we see some CLEAR EXAMPLES of this physical and digital convergence ACROSS INDUSTRIES AND BUSINESS FUNCTIONS Here are 4 examples that should resonate with most of our customers: IoT/Smart, Connected Products: Physical products are embedded with software and sensors to enable new capabilities and generate a wealth of new data about their performance, usage and environment. This enables John Deer’s Farmsight to optimize the farm and the Babolat tennis racket improve player performance. Smart Manufacturing/Industry 4.0: In a factory setting the physical and digital worlds are also converging. Industrial connectivity and data analytics enable a closed-loop, real time Digital Thread that connects people, systems, and equipment inside factories, improving quality and efficiency. Connected Service/Maintenance: Another opportunity created by the physical and digital convergence is in service. Remotely Monitor, Diagnose, and Repair smart connected products and factory equipment with IoT and AR applications to increase customer satisfaction and reduce costs with remote service Smart Cities, Fields, & Worksites: Many of these smart connected products are being deployed across cities, worksites and fields. ThingWorx enables rapid creation and deployment of new IoT applications and AR experiences that connect, manage, and optimize these complex sets of disparate sets of connected things.
- Today we see some CLEAR EXAMPLES of this physical and digital convergence ACROSS INDUSTRIES AND BUSINESS FUNCTIONS Here are 4 examples that should resonate with most of our customers: IoT/Smart, Connected Products: Physical products are embedded with software and sensors to enable new capabilities and generate a wealth of new data about their performance, usage and environment. This enables John Deer’s Farmsight to optimize the farm and the Babolat tennis racket improve player performance. Smart Manufacturing/Industry 4.0: In a factory setting the physical and digital worlds are also converging. Industrial connectivity and data analytics enable a closed-loop, real time Digital Thread that connects people, systems, and equipment inside factories, improving quality and efficiency. Connected Service/Maintenance: Another opportunity created by the physical and digital convergence is in service. Remotely Monitor, Diagnose, and Repair smart connected products and factory equipment with IoT and AR applications to increase customer satisfaction and reduce costs with remote service Smart Cities, Fields, & Worksites: Many of these smart connected products are being deployed across cities, worksites and fields. ThingWorx enables rapid creation and deployment of new IoT applications and AR experiences that connect, manage, and optimize these complex sets of disparate sets of connected things.
- Today we see some CLEAR EXAMPLES of this physical and digital convergence ACROSS INDUSTRIES AND BUSINESS FUNCTIONS Here are 4 examples that should resonate with most of our customers: IoT/Smart, Connected Products: Physical products are embedded with software and sensors to enable new capabilities and generate a wealth of new data about their performance, usage and environment. This enables John Deer’s Farmsight to optimize the farm and the Babolat tennis racket improve player performance. Smart Manufacturing/Industry 4.0: In a factory setting the physical and digital worlds are also converging. Industrial connectivity and data analytics enable a closed-loop, real time Digital Thread that connects people, systems, and equipment inside factories, improving quality and efficiency. Connected Service/Maintenance: Another opportunity created by the physical and digital convergence is in service. Remotely Monitor, Diagnose, and Repair smart connected products and factory equipment with IoT and AR applications to increase customer satisfaction and reduce costs with remote service Smart Cities, Fields, & Worksites: Many of these smart connected products are being deployed across cities, worksites and fields. ThingWorx enables rapid creation and deployment of new IoT applications and AR experiences that connect, manage, and optimize these complex sets of disparate sets of connected things.
- “Smart, connected products represent the third wave IT-driven competition, where IT is becoming an integral part of the product itself, creating massive amounts of new data.”
- As Prof. Michael Porter and I have published in HBR, the Internet of Things is changing the nature of work. It is changing industry boundaries and the nature of competition. It is changing the way we create value and make money. It is even changing the way that companies are organized. But the most pronounced change is to the products themselves. Products have a new digital technology stack that incorporates: connectivity and a product cloud. Which includes: big data databases, analytics, and application platforms that deliver web and mobile applications. These changes have implications for the world around us, and they have had some pretty big implications for PTC’s corporate strategy as well. At PTC we realized we needed to transform our technology portfolio to align to the transformation happening in products today. Over the past two years, PTC has invested more than $700 million to expand its technology portfolio to leverage our proud heritage in physical products with new technology for connectivity and cloud-based product capabilities.
- 9
- 11
- Simple THINGS evolving to complex intelligent SYSTEMS of HW/SW/connectivity, commonly referred to as the Internet of Things. Once stand alone, now part of a system Now systems of systems I personally have researched this deeply; coauthored major papers with Prof. Porter in HBR
- Smart, connected products create new production requirements and opportunities. Manufacturing now goes beyond the production of the physical object, because a functioning smart, connected product requires a cloud-based system for operating it throughout its life. EXAMPLES (Pictures Left to Right) Tesla Software Update – Model S is designed to keep getting better over time. The latest software update, 7.0 allows Model S to use its unique combination of cameras, radar, ultrasonic sensors and data to automatically steer down the highway, change lanes, and adjust speed in response to traffic. Once you’ve arrived at your destination, Model S scans for a parking space and parallel parks on your command. The new instrument panel provides a visualization of the road as detected by the car’s sensors, giving drivers the information their car is using for features including lane departure, blind spot detection, speed assist, collision warning, adaptive cruise, and autosteer. Glass Airplane Cockpit - Manufacturers of aircraft, automobiles, and boats are moving toward “glass cockpits,” in which a single screen displays numerous configurable gauges, eliminating some physical components. As the physical complexity of products decreases, however, the quantity of sensors and software rises, introducing new parts and complexity Customizable Touch Screen Keyboard – Keyboards in phones, tablets, and other products are now fully digital, allowing for reduced physical complexity as variability is delivered by software. Instead of manufacturing many varieties of physical keyboards, now the customer can completely customize their touch screen keyboard after purchase , choosing preference of language, size of the keys, and whether to tap or swipe to type. However, this ability to modify products after purchase means companies must keep up with customers’ evolving preferences. For example, Apple regularly releases new emoticons to keep up with changing cultural norms (e.g. released multi-cultural emoticons based on customer feedback)
- Lets look at the impact of smart, connected products on after-sales service, or the activities that maintain the health and performance of the product, including product or customer support. For manufacturers of long-lived products (e.g. industrial equipment), service can represent a significant portion of revenue and profit. This is partly because traditional service delivery is quite inefficient. Technicians often must inspect the product to identify the nature of the failure and what will be required to correct the problem, and then make a second trip to perform the actual repair. Service technicians can obtain all the information needed to diagnose the problem, understand the repair, and assemble the right parts remotely. Repair can be accomplished with one trip, and in some cases remotely. Data on product usage and performance can feed insights back to product design, so that firms can reduce future product failures and associated service required. Product usage data can also be used to validate warranty claims and identify warranty agreement violations. Beyond the shift from “break/fix” to proactive maintenance, service organizations are further empowered to expand their service offerings to value-added services like performance-based contracts or, ultimately, support a product-as-a-service business model Firms can also respond to security breaches with patches and upgrades via software. General Examples: Joy Global Smart Services Solution: Provides remote health monitoring and predictive maintenance to optimize uptime of mining equipment Trane Intelligent Services: Reducing downtime using data analytics and expertise to anticipate maintenance needs. 40% of issues resolved inside 30 minutes and 30% of problems resolved without truck-roll Schindler now provides urban mobility solutions that include remote monitoring of a building’s elevators, escalators, etc. to provide remote maintenance and the ability to optimize the building’s energy efficiency through streamlined operations EXAMPLES (Pictures Left to Right) Remote Diagnostics – A service technician located off-site (or even in a centralized remote repair center), can obtain all the information needed to diagnose the problem, understand the repair, and assemble the right parts remotely. Repair can be accomplished with one trip, and in some cases remotely. One Stop Service - Because technicians can diagnose problems remotely, they can have the parts needed for repairs in their trucks the first time they arrive at the customer site. They can also have supporting information for executing the repairs. Only one visit is necessary, and success rates rise. A technician using augmented reality on his iPad can tap into the product cloud and generate a digital overlay of the product with service information and step-by-step instructions that make supporting or servicing the product more efficient
- Smart, connected products require functions within manufacturing firms to collaborate in new ways. As a result, firms’ structures are rapidly evolving. A new functional unit focused on data management is starting to appear. Though rare, units focused on ongoing product development and customer success are also beginning to be recognized. Collaboration Between IT and R&D IT hardware and software are now embedded in products and in the entire technology stack Few R&D organizations have experience in building and managing the cloud-based elements of the technology stack IT and R&D must integrate their activities on a continual basis. Yet the two functions have little history of collaboration on product development. Various organizational models for this new relationship are emerging: Embedding IT teams within R&D departments Establishing cross-functional product design teams that include IT representation Unified data Organization Because of the growing volume, complexity, and strategic importance of data, it is no longer desirable or even feasible for each function to manage data by itself New data organizations usually are led by a C-level executive, the chief data officer, who reports to the CEO or sometimes to the CFO or CIO Dedicated data groups consolidate data collection, security, and analytics, and are responsible for making data and insights available across functions and business units Dev-Ops The imperatives of evergreen product design and continuous product operation and support are creating a need for dev-ops It brings together software-engineering experts (the “dev”) with staff members from IT, manufacturing, and service who are responsible for product operation (the “ops”) Dev-ops organizes and leads teams that shorten product-release cycles, manage product updates and patches, and deliver new services and enhancements postsale Customer Success Management With smart, connected products, the product itself becomes a sensor that gauges the value customers are receiving Responsible for managing the customer experience and ensuring that customers get the most from the product Crucial with smart, connected products, especially to ensure renewals in product-as-a-service models Performs roles that traditional sales and service organizations are not equipped for and lack incentives to adopt Monitoring product use and performance to gauge the value customers capture and identifying ways to increase customer value over time