In the near future, you may hear about the appointment of a Chief Internet of Things (IoT) Officer. Before you roll your eyes and chortle at the thought of another chief-of-something, consider the problem.

First, companies are beginning to make and implement smart, connected, data-producing products. That can be anything — automobiles, assembly line robots, washing machines and even coffee makers. This data can be used in predictive analytics to avoid product failures, as well as to schedule maintenance around when a product actually needs it. These products, mechanical and electronic, will likely get ongoing software updates.

Second, connected products are now part of a broader system. Or as Michael Porter, a Harvard economist, pointed out at this week’s ThingWorx conference, you aren’t just selling a tractor, you are selling a tractor that is becoming part of a smart farm, a system. Things have to be able to work together.

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