Evolving IoT into Digital Products for a Hyper-connected Consumer
With the world witnessing unprecedented times, business models have shifted from offline to online overnight. Consumer product companies are waking up to the opportunity to digitize their products and put their customer at the center of the business model. The Internet of Things (IoT) is moving beyond being just data driven, a conduit for providing manufacturers with better data about their customers. It is evolving the business model of how companies interact with their customer, delivering community and a connected experience with other consumers and the manufacturer directly.