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December 31, 2005
Smart Products and the Future of Business
'Smart products' are those that leverage intelligent, embedded microprocessors and the Internet to give customers greater satisfaction throughout the product lifecycle. Smart products use Internet-delivered services to personalise themselves to the customer. Since service becomes integral to the product, vendors of smart products provide help with tasks, answers to questions, helpful value-added services, or solutions to a technical problem. All this is done without disrupting their usage of the product. At the helm of smart products are vendors of traditional technology products. This trend will transcend traditional technology products, and almost all product vendors will eventually offer smart products. Embedded systems are creating increasingly sophisticated mobile telephone services. Embedded systems are enabling Internet appliances to make inroads in businesses such as hospitality, healthcare, financial services and education industries. CRM Today reports:
With today's increasingly sophisticated service software, vendors can create products that proactively update themselves with new features or head off problems at the pass via "self-healing." Products can opportunistically look for ways to help the customer work smarter or get smarter: for example, a vendor of small-business accounting software could provide built-in access to live experts that augment certain features of the product.
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