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The Internet of Things (IoT) promises to deliver tremendous business value and disrupt various industries. However, many companies are taking much longer than anticipated to realize these opportunities. To exploit the digital data streams flowing from their smart, connected products (IoT field data), companies need to identify new opportunities that go beyond well-known product and service innovations. We describe how manufacturing companies are leveraging IoT field data to innovate in their internal processes at all stages of the product lifecycle.
Bilgeri et al. (Sun,) studied this question.