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IoT analytics brings new levels of innovation to new product development

Puneet Pandit, Founder and Chief Executive Officer, Glassbeam, Inc. | July 14, 2015
Studies show that around 40 percent of products fail. But what if product designers could understand what features are most and least popular, which components tend to fail sooner than others, and how customers actually use products versus how designers think they use them?

The Gateway allows Streetline customers to more effectively capture data from in-ground sensors and video cameras, and make more effective decisions. Better parking is the first solution to come out of the Gateway, and is not only a large revenue generator for cities, but has the potential to decrease congestion, and build a nice revenue stream for Streetline at the same time.

Streetline developed its new gateway jointly with Cisco. The Gateway integrates Streetline's low-power mesh network and Cisco's Smart+Connected WiFi solution.

Another example is Trane, which designs and produces HVAC equipment. The company began to insert sensors into its equipment and the data analysis enabled facility managers to think of and operate various HVAC and other devices as a single large system. For example, rather than simply turning on at the beginning of the day and off at the end, a "smart" HVAC system will now operate based on the building's occupancy. In the future, Trane plans to sell "outcomes" versus equipment; e.g., ensuring the air within a facility remains at 72 degrees.

IoT analytics enables new product teams to completely rethink the solutions they develop and how they are supported. With IoT analytics, the only limit to designing winning new products is the creativity of the new product development team.

 

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