IoT-connected, software-enabled devices offer extraordinary opportunities for business: recurring revenue, customer loyalty, and higher margins. And this is true across many industries, from connected wearables to monitor our health, to software defined vehicles and robots to streamline warehouse operations, to name just a few.
But for many companies, seizing these isn't always easy. Creating a "smart, connected product" requires entrepreneurial will, digital savvy, and organizational change. How can businesses master all three—and then shape and execute a strategy for success?