At the 2018 LiveWorx conference, Forrester analyst Nate Fleming explained the importance of product lifecycle management in digital transformation.
Nate Fleming is an analyst for Forrester. He talked with TechRepublic's Alison DeNisco Rayome during LiveWorx 2018 about how digital leaders can gain IoT success in their business.
Nate Fleming: I think a lot of investment and focus from digital leaders thus far around digital transformation have been around customer-facing systems or stakeholders within the organization who interact with customers, so marketers or salespeople.
But I think what businesses are realizing as they gain more experience undergoing digital transformation is that some of the core operational technologies that support some of those customer-facing initiatives are important as well. So, the PLM as a resource around product development data and product design data is really key to feed some of the IoT initiatives that you might want to support as a digital organization moving forward.
SEE: Internet of Things policy (Tech Pro Research)
I think it's important to start to align the PLM solution with business goals and business strategies and stop thinking about PLM as a backend system that only supports engineers and product designers and start thinking about PLM as a core system that supports Iot initiatives.
I think an interesting future-facing trend around IoT that I'm seeing in the market is around digital twin, so the desire to take service data ... or operational data from the field and start to splice that or merge that with product design data as well as other data from enterprise application systems, start driving a more wholistic view of the product, and what happens when you start to do that is you're able to drive more valuable software experiences around the product that are enabled by that digital twin. It allows you to manage customer experiences more adeptly and potentially create new revenue models down the road, including value-added services or selling products as a service rather than one-off sales.
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