Thinking big in IoT Concept development

About Tobias Söderlund

He has a degree from the Royal Institute of Technology in Stockholm. In addition he spent a few years at Ericsson as a M2M Innovator, launching a global IoT platform and as Global Product Manager at skyrocketing wireless tech company CyanConnode.

WSIs’ IoT Business Architect, Tobias Söderlund shares some insights on avoiding mistakes in IoT concept development.

It’s time to define your IoT offering or product, you have done your homework, listened to your customers, tested the business model and the value proposition seems to hold. You start writing that requirement specification and accompanying design documents. The first version is released and short after you released, “if we only had done that…”.

What went wrong?

One reason on why you may have ended up in this situation could be that you were to narrow in the concept development phase, the important step before going into the details. In this phase, almost no ideas should be considered too wide. By allowing a large scope, low hanging fruit can be identified and potentially give a big impact on your business. Areas often overlooked can be:

  • Customer meta-data. For example: Today you don’t have a direct relationship with your customers, you want to, but the timing is not right.
  • Data to support R&D activities.
  • Production quality parameters.
  • Future business models or strategical pivots.

If you are lucky, these “extra features” could be an over-the-air update, but in certain situations it can be difficult and especially if it involves hardware changes or new processes for field and installation personnel.

Of course, this doesn’t mean that the solution should contain all these features developed in the concept development phase. But when defining your Minimal Viable Product, maybe your first commercial release, you at least have done conscious decisions and minimized the risk of ending up wrong.

Contact Tobias!

  • As of May 25, 2018, a European privacy regulation called The General Data Protection Regulation (GDPR) has effect. WSI cares about your privacy and personal data. To be able to contact you, we need your consent to holding your personal data.

Look inside for customers

About Tobias Söderlund
He has a degree from the Royal Institute of Technology in Stockholm. In addition he spent a few years at Ericsson as a M2M Innovator, launching a global IoT platform and as Global Product Manager at skyrocketing wireless tech company CyanConnode.

Insights from Tobias Söderlund, IoT Business Architect. Tobias shares some examples how IoT gives you the possibility to increase internal effectiveness which often has a significant impact on the overall business case.

IoT enables unparalleled opportunities to create a long-lasting relationship with your customers and tailor your offering over time. New ways of monetization are enabled through outcome based pricing models, where you deliver what the customer really wants instead of a product. This could be climate comfort or one of the oldest examples, the Rolls Royce ‘Power by the Hour®’ where customers pay a fee for the amount of flying time for an engine.

In the innovation process the customer is in focus; however, by experience I find that many miss the opportunity to treat your internal organization as different customer segments (e.g. Supply, R&D and Marketing). Instead, these insights from within the company often come after deployment and impact the cost structure rather than the revenue stream, increases the product quality or optimizes the asset utilization.

Sure, many launch IoT solutions solely to improve productivity, reducing cost or automate processes, but the scope is then often too narrow and do not take into consideration other corporate functions.

Four examples of company internal benefits of IoT

Supply chain improvements

  • Decrease warehouse needs and deliver consumables and spare parts just in time.
  • Lifecycle information.
  • Asset tracking in the logistic flow.
  • Transport environment sensing (temperature, humidity, physical stress).

Accelerate product innovation

  • Real-time and predictive data to enhance product development.
  • Data to measure and feedback production quality.
  • Develop what matters for customers.

Increase sales agility

  • Targeted sales activities based on customer usage and meta data.
  • Streamlined upselling.
  • Comprehensive data gathering from campaigns.

Improved support

  • Real-time and predictive issue handling.
  • Issue statistics.
  • Over the air updates to remedy issues.

Some of these internal improvements can of course be captured by looking solely at customer needs, but seeing the corporate functions as potential customers increases the chances of finding highly valuable process improvements which not only improves the business case but also help increase awareness and alignment in the organization when entering into the IoT space.

Contact Tobias!

  • As of May 25, 2018, a European privacy regulation called The General Data Protection Regulation (GDPR) has effect. WSI cares about your privacy and personal data. To be able to contact you, we need your consent to holding your personal data.

WSI will be at Elmia Subcontractor 14-17 Nov 2017

Elmia Subcontractor – where IoT manufacturers go (to get ahead of the competition).

Priding ourselves being a close partner to both large and small IoT manufacturers, we decided it would be worth our while to exhibit at Elmia Subcontractor Exhibition next week.

Together with our sister companies in the Allgon Group and our exhibition co-sponsor Telít we have a virtual smorgasbord of connected solutions and products on display.

Tobias Söderlund, IoT Business Architect

Tobias Söderlund, our newly recruited business wizard is spear-heading our brand new IoT Business Unit. He has some really smart tools to guide you all the way from idea to product/offering. Be on the look-out for him at Elmia Subcontractor. He is eager to share his best practices, experience and a coffee or maybe a dinner with you. Get in touch with him!

Check out the teaser about the different work flows and work bundles on our website. We are happy to hear your feedback – and we hope it will inspire you to get in touch. Jan-Åke says he is always on call, so why not hold him to it?

See you November 14 – 17 @Elmia Subcontractor – looking forward!

Tobias Söderlund
He has a degree from the Royal Institute of Technology in Stockholm. In addition he spent a few years at Ericsson as a M2M Innovator, launching a global IoT platform and as Global Product Manager at skyrocketing wireless tech company CyanConnode.
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