Why do we buy things? Purchase’s really come down to value. Intelligent businesses recognize and acknowledge this characteristic of customer behavior, whether those customers are other businesses or individual consumers. End users do not simply purchase products; they are investing in value.
As both technology and end-user expectations advance, the means to deliver value also changes. Organizations often become too comfortable with the “status quo,” delivering the same value as before, only to be passed by savvy competitors leveraging the latest technology to deliver enhanced or different value. This idea is common across multiple industries, and is best illustrated by what are now some common household names:
- Technology: Enhanced comfort through digital intelligence -Example: Nest or Siri
- Transportation: Reduced worry about getting from “A to B” another through ride-sharing -Example: Uber
The service provider
Businesses selling services, whether those services are for personal or business purposes, utilize products to deliver these services – ultimately, service delivery is the objective. Delivery of services requires an infrastructure of capable smart, connected individuals, and devices.
Traditionally, the infrastructure of professional services is human centered. Today’s infrastructure for service delivery, however, is provided by software. Additional intelligence is available today because the delivery of the service can be measured and analyzed easily using technologies that surpass human capabilities.
As an infrastructure for value delivery, can seem simple – software driven intelligence is used to perform specific functions. The operation of these devices then are analyzed in a way to predict their functional and maintenance needs. The reaction of the consumer to these new devices can be assessed. This data can then in-turn be used by the provider to derive insight for how to improve the service and how to provide increasing value to the customer.
Become a continuous engineer
The application of these technologies in a fixed loop of never ending improvement is referred to as “continuous engineering.” In today’s ultra competitive business environment, sitting “on the fence” is no longer an option. Value is subjective and should be constantly redefined within a transforming landscape of changing technology and customer requirements. Businesses need to continuously revaluate customer needs and wants to better understand how well they are meeting demands, and continuously reengineer their strategy and means for delivering value. Intelligent businesses are recognizing that product development is not simply a means-to-an-end. They are realizing that products are just one tool for delivering a service that provides a desired value or outcome.
Kinetek provides the technologies required to help businesses use smart, connected products for delivering what their customers demand – value. Learn more about how Kinetek enables enhanced development by contacting us today.