The Outcome Economy - Internet of Business...The Outcome Economy •Connected devices, enable …...

The Outcome Economy

How the Industrial Internet of Things is Transforming Every Business

#IoTBuild

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What Do Customers Really Want?

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People do not want a quarter-inch drill bit;

they want quarter-inch holes.―Theodore Levitt

“

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No one wants to buy IoT

Customers pay for outcomes

The Outcome Economy

• Connected devices, enable …

• New business and customer engagement models, drive …

• User-defined outcomes …

• Delivered by an ecosystem

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Digitization of the Enterprise and Value Chain

What does it mean for product design?

• Nothing – A device is a device…

• Not Much – Just the obvious: sensors, embedded software, …

• Everything – A new product development culture and process that should impact everything…

• The opportunity:

Always-connected products and consumers

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#YourProdcutSucks

Humans Become Sensors!

IoT Shortens Latency of Information

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“I knew who I was this

morning, but I've changed

a few times since then.”—Alice

Design For IoT or Design By IoT?

IoT-Centered Innovation

• Always-connected products and customers

• Immediate feedback from a diverse ecosystem

• Faster, more precise design iterations

• Kill useless features

• Improve underutilized features

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The Outcome-Driven Organization

• New thinking• Customer engagement models

• Revenue streams

• New product development processes

• Leveraging data from connected products and users

• Faster and better decisions

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Shift fromProduct promise of the past: features, functions, specifications...

ToProduct promise of the future: customer-centric business outcomes!

Recalibrate the Innovation Process

Leverage insight from always-connected products & customers

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To Stay in Touch

#IoTBuild

@JoeBarkai

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joe@JoeBarkai.com

Joe Barkai

(and request the presentation slides)