Consumer products manufacturers do not have organizations that are set up to succeed with connected products. For many companies, their CIOs now find themselves heading major product initiatives when just last year all of their focus was on internal infrastructure and operations and nothing to do with product. This is a seismic shift for organizations and it needs to be addressed to achieve success.
Likewise, for most manufacturers, their business models previously relied on selling tonnage to retailers and hoping to never hear back from that product again — because that would mean a warranty or support claim. In the connected product world of IoT many new business relationships and revenue streams are opening up for those brands looking for opportunity. But even the most forward-looking of consumer brands will find that this new world can be very difficult to manage.