The Internet of Things is both prolific and nebulous. While many manufacturers already have a strong IoT plan, some struggle to understand its impact and how or if they should take action.
In a new four-part series, Jim Heppelmann, CEO of Boston-based tech company PTC and co-author of Harvard Business Review‘s November cover How Smart Connected Products are Transforming Competition, talks to McKinsey about how the IoT and smart, connected products impact the design, manufacture, operation, and service of products.
“The term Internet of Things doesn’t actually communicate much,” begins Heppelmann. “It’s a catchy phrase and we all like it, but it’s not clear what it means.”
For Heppelmann, “smart, connected products” is a more tangible definition, and as CEO of a company that has long specialized in product development, he believes the IoT is less about the Internet and more about the products themselves.