TECH BUYER Mar 2022 - IDC TechBrief - Doc # US48629422

IDC TechBrief: IoT in Engineering

By:

John Snow
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Abstract

This IDC TechBrief describes the opportunities and challenges associated with connecting downstream IoT data (manufacturing, supply chain, service/support) into the product management and product development process (IoT in engineering). While IoT data is currently used to optimize production operations, logistics, and customer support, that data has not been repurposed for product design and corrective actions. IoT in engineering represents a low-risk/high-reward initiative, in which the primary risk is opportunity cost (the cost of the people reassigned to work on this initiative). A successful implementation of IoT in engineering will improve product designs; accelerate time to market; reduce the cost of development, production, and support; and improve overall product quality.

"Sharing IoT data with engineering is an example of a closed-loop digital thread where existing, previously siloed, information is repurposed to provide additional value to the corporation in the form of lower engineering costs, better product quality, faster time to market, and higher success rate for new products," said John Snow, research director, Product Innovation Strategies at IDC.


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