ACCENTURE
26
“ IT IS IMPORTANT TO DEVELOP PRODUCTS WITH A MINDSET THAT IS NOT PRODUCT FIRST BUT INSTEAD IS DRIVEN BY VALUE- DRIVEN END-USER EXPERIENCES ”
— Tilak Mitra , CTO Industrial , Managing Director , Accenture
1 . The loci of power have shifted out of the organizations and into the hands of the consumer . The ubiquity of choices is leading consumers down the path of intolerance to anything that is mediocre ; they have multiple choices to shift to other brands .
2 . Since the choice and control are now in the hands of the consumers , it is important to develop products with a mindset that is not product first but instead is driven by value-driven end-user experiences . This will be imperative for some organizations , e . g . industrial manufacturers and retailers , so as to leverage the increased number of consumer touch points ( with the connected products ) and convert them favorably into a consumer behavior that is more collaborative , and ultimately more co-creative , than the current consumption driven mindset .
Innovations that are driven by such mindsets are proven to open up new opportunities and hence revenue streams .
Examples of quantitative value levers are often use-case driven . In boosting operational efficiencies , untapped or unrealized value is more often than not related to availability , productivity and quality of not only the operational processes but also of the final product that is built . Some of the use cases seen as very common across a wide diversity of industries are around :
• Optimized asset utilization .
• Asset downtime prediction and reduction .
• Production throughput and yield optimization .
• Reduction of total maintenance cost – proactive reduction of repair and fix cycles .
• Early detection and mitigation of operator related productivity losses .
• End to end supply chain visibility .
DECEMBER 2018