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Harvard's Michael Porter: Service Leaders Will Be Hard Hit by IoT Revolution

Harvard's Michael Porter: Service Leaders Will Be Hard Hit by IoT Revolution | Marketing and Communications | Scoop.it
The Internet of Things transformation will have a big impact on the service and maintenance industries. Here are 4 ways service leaders must adapt.

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Caroline Roy's curator insight, August 7, 2015 5:20 AM

Porter, along with Jim Heppelmann, president and CEO of PTC, summarized their findings from a November 2014 HBR article about how the Internet of Things (IoT) is disrupting various industries, field service included. The pair also spoke about ongoing research on the implications for company strategy and organization, which will be published in HBR later this year.

“Not only is the product changing, the product change is feeding back and changing how companies operate today,” Porter said. “How you run a company is going to change much more dramatically than in previous generations of IT.” 

1. Service businesses will shift from reactive to proactive:  There will be a transformation in the way service businesses are run and organized, as connected products allow technicians to diagnose the problem, or even perform service, remotely. Companies will be able to push updates to products in the field, and analyze product usage data to improve service efficiency and warranty management. As new IoT-enabled technologies take hold, service companies will move beyond the repair model to data-enabled advanced services that add value to customers. Ultimately, Porter said, this model will evolve to “product-as-a-service” as companies design new functionality and extend product life cycles. 

2. Big data will create an entirely new section of the value chain:    Companies will find ways to create value from the constant data stream from both internal and external factors. (Internal data could be product usage and equipment performance information, while external data could include weather conditions.)  Porter and Heppelmann said that, rather than having each division deal with its own data separately, companies need to create a “unified data group,” led by a chief data officer, that can store, aggregate and analyze the data — and work closely with other divisions to uncover insights that create customer value.

3. Product design will require a long-term, integrative approach:  Product design will become “evergreen,” said Porter, meaning products will be continuously re-designed and serviced via remote connections and services once they’re in the field. As a result, companies must find a new approach to product design that accounts for everything that happens after the sale is closed.  In addition, increased connectivity will require manufacturers to look at products within a larger, networked system. A “smart” tractor, for example, will have its own data analytics connections, but it must also interface with other smart machines on the farm.

4. Expect more consolidation and a war for talent: Porter frames the changes led by the IoT as an opportunity for companies to broaden their offerings and lead with innovative product functionality. There are two choices: cling to business as usual, or adapt. Companies that don’t react will have their products subsumed by companies that do. Porter predicts this will lead to further consolidation across industries, allowing companies to expand their market and products through data and IoT functionality. - But the biggest hurdle, Porter said, is likely to be the war for talent. There are currently too few people with the necessary mix of skills to tackle the new challenges presented by the IoT era.



clara noble's curator insight, August 9, 2015 5:54 AM

Porter, along with Jim Heppelmann, president and CEO of PTC, summarized their findings from a November 2014 HBR article about how the Internet of Things (IoT) is disrupting various industries, field service included. The pair also spoke about ongoing research on the implications for company strategy and organization, which will be published in HBR later this year.

“Not only is the product changing, the product change is feeding back and changing how companies operate today,” Porter said. “How you run a company is going to change much more dramatically than in previous generations of IT.” 

1. Service businesses will shift from reactive to proactive:  There will be a transformation in the way service businesses are run and organized, as connected products allow technicians to diagnose the problem, or even perform service, remotely. Companies will be able to push updates to products in the field, and analyze product usage data to improve service efficiency and warranty management. As new IoT-enabled technologies take hold, service companies will move beyond the repair model to data-enabled advanced services that add value to customers. Ultimately, Porter said, this model will evolve to “product-as-a-service” as companies design new functionality and extend product life cycles. 

2. Big data will create an entirely new section of the value chain:    Companies will find ways to create value from the constant data stream from both internal and external factors. (Internal data could be product usage and equipment performance information, while external data could include weather conditions.)  Porter and Heppelmann said that, rather than having each division deal with its own data separately, companies need to create a “unified data group,” led by a chief data officer, that can store, aggregate and analyze the data — and work closely with other divisions to uncover insights that create customer value.

3. Product design will require a long-term, integrative approach:  Product design will become “evergreen,” said Porter, meaning products will be continuously re-designed and serviced via remote connections and services once they’re in the field. As a result, companies must find a new approach to product design that accounts for everything that happens after the sale is closed.  In addition, increased connectivity will require manufacturers to look at products within a larger, networked system. A “smart” tractor, for example, will have its own data analytics connections, but it must also interface with other smart machines on the farm.

4. Expect more consolidation and a war for talent: Porter frames the changes led by the IoT as an opportunity for companies to broaden their offerings and lead with innovative product functionality. There are two choices: cling to business as usual, or adapt. Companies that don’t react will have their products subsumed by companies that do. Porter predicts this will lead to further consolidation across industries, allowing companies to expand their market and products through data and IoT functionality. - But the biggest hurdle, Porter said, is likely to be the war for talent. There are currently too few people with the necessary mix of skills to tackle the new challenges presented by the IoT era.

 

 


TDI Group's curator insight, August 10, 2015 6:20 AM

Porter, insieme a Jim Heppelmann, Presidente e CEO di PTC, ha riassunto le loro scoperte da un HBR articolo novembre 2014 su come Internet of Things (IoT) sta distruggendo vari settori, compreso il servizio di campo. La coppia ha parlato anche in corso ricerche sulle implicazioni per la strategia e l'organizzazione aziendale, che sarà pubblicato in HBR entro la fine dell'anno.

"Non solo è il prodotto cambia, il cambiamento del prodotto è l'alimentazione indietro e cambiare il modo in aziende operano oggi", ha detto Porter. «Come si esegue una società sta per cambiare molto più drammatico rispetto a precedenti generazioni di IT". 

1. le imprese di servizi saranno spostano da reattivo a proattivo:   Ci sarà una trasformazione nel modo in cui le imprese di servizi sono gestiti e organizzati, come i prodotti collegati consentono ai tecnici di diagnosticare il problema, o addirittura eseguire il servizio, in modalità remota. Le aziende saranno in grado di inviare gli aggiornamenti ai prodotti nel campo, e analizzare i dati di utilizzo del prodotto per migliorare l'efficienza del servizio e  la gestione delle garanzie . Come le nuove tecnologie degli oggetti abilitati prendere piede, società di servizi si muoveranno al di là del modello di riparazione di data-enabled servizi avanzati che  aggiungono valore ai clienti . In ultima analisi, ha detto Porter, questo modello si evolverà per "prodotto-as-a-service", come le società di progettare nuove funzionalità e di estendere i cicli di vita dei prodotti. 

2. I dati grandi creeranno una nuova sezione della catena del valore:    Le imprese dovranno trovare il modo di creare valore dal flusso di dati costante sia da fattori interni ed esterni. (Dati interni potrebbero essere l'utilizzo del prodotto e informazioni sulle prestazioni attrezzature, mentre i dati esterni potrebbero includere condizioni atmosferiche.)   Porter e Heppelmann ha detto che, piuttosto che dover ogni affare divisione con un proprio dati separatamente, le imprese hanno bisogno di creare un "gruppo di dati unificata," guidati da un ufficiale di dati principale, che può memorizzare, aggregare e analizzare i dati - e lavorare a stretto contatto con altre divisioni per scoprire intuizioni che creano valore per il cliente.

3. Progettazione del prodotto richiederà un lungo periodo, integrativo approccio:  Product design diventerà "evergreen", ha detto Porter, il che significa prodotti saranno  continuamente ri-progettati e serviti  tramite connessioni e servizi a distanza una volta che sono in campo. Come risultato, le aziende devono trovare un nuovo approccio al design di prodotto che rappresenta tutto ciò che accade dopo la vendita è chiusa.   Inoltre, una maggiore connettività richiede ai produttori di esaminare i prodotti all'interno di un sistema più ampio, in rete. Un  trattore "intelligente" , per esempio, avrà le proprie connessioni analisi dei dati, ma deve anche interfacciarsi con altre macchine intelligenti della fattoria.

4. Aspettatevi di più il consolidamento e una guerra per il talento: Porter incornicia i cambiamenti guidati dal IoT come un'opportunità per le aziende di ampliare le loro offerte e portare con funzionalità innovative di prodotto. Ci sono due scelte: si aggrappano alla vita di sempre, o adattare. Le aziende che non reagiscono avranno i loro prodotti sussunto da aziende che fanno. Porter prevede questo porterà a un ulteriore consolidamento attraverso le industrie, consentendo alle aziende di espandere il loro mercato e dei prodotti attraverso i dati e le funzionalità degli oggetti. -  Ma il più grande ostacolo, ha detto Porter, è probabile che sia la  guerra per i talenti . Al momento non ci sono troppo poche le persone con il mix di competenze necessarie per affrontare le nuove sfide poste dalla dell'era degli oggetti.

 

 


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