Smart services for machine manufacturers: New business models through IoT & digitalization

The networking of products with the Internet of Things opens up numerous opportunities for companies to reduce their costs and maximize profits. Increasing digitalization also offers manufacturers of mobile machinery new ways to optimise their products and create added value for their customers.

Over time, companies in various industries will move from being product-oriented to service-oriented. In concrete terms, this means that companies that previously "only" sold machines, for example, will be able to offer many additional services based on the new data available.

This extension of the business relationship benefits both customers by providing them with relevant information and the company itself by achieving stronger customer loyalty, developing additional long-term revenue streams in the service area, and optimizing its offering based on existing data.

Smart services are revolutionizing the way mobile machinery manufacturers work and the benefits their customers get from their products. In this article, we take a detailed look at the future of machine manufacturing and how smart services are changing it.

Smart services: Definition, functionality and areas of application

Smart services are intelligent services that improve the customer experience. They are based on smart products that are networked with each other via the Internet of Things. Mobile work machines can be equipped with gateways and collect valuable data, as can fitness wristbands or voice assistants such as Apple's Siri or Amazon's Alexa. Smart services are already being used in all kinds of areas, but will dominate the service industry in the future. All smart services have one thing in common: they focus on the customer.

Optimizing machine use: How Smart Services increase efficiency and reliability

The introduction of smart services has a profound impact on the use of machines. Networking enables manufacturers to monitor the condition of their machines in real time and proactively respond to problems. This enables improved maintenance, early troubleshooting and reduced downtime.

Another area of application is data analysis, where artificial intelligence and machine learning are used to analyze large volumes of data to identify trends and patterns. This is intended to identify potential problems before they actually occur and thus prevent failures.

There are also significant benefits for customers from Smart Services. Customers can benefit from improved machine availability and reduced downtime. In addition, Smart Services enable better planning of maintenance work, as potential problems can be identified and rectified at an early stage. In addition, communication between customers and manufacturers is significantly simplified, as both parties can access the data of the machines. This means that requirements and problems can be solved more efficiently.

Success factors for smart services: Tips for developing customer-centric solutions

Despite the different activities and plans, success factors can be identified that go beyond the individual project. When developing smart services, you should always keep the following in mind:

  1. Time-saving applications with great benefits:
    A successful Smart Service offers your customers considerable added value. It simplifies and optimizes part of their private or professional everyday life. The application should be user-friendly and integrate seamlessly into the daily routine without taking up a lot of time or energy. Therefore, first analyze the value creation process of your customers and actively involve them in the development of your service, for example through workshops or surveys. In general, use as many internal and external sources as possible to develop ideas for possible services. In particular, look to other industries for inspiration. Have your ideas evaluated by various parties and involve affected company units right from the start of your project.
  2. Specify your Smart Service:
    Focus on a limited number of applications. Make them clear, simple but effective. Concentrate on concretizing and perfecting these applications. A wide range of applications means greater potential for distractions and less room for further improvement. If you succeed in improving even one aspect of your target group's life, your customers will use your smart service. It is best to test your ideas in practice early on using a simple core offering (minimum viable services).
  3. Take the perspective of your customers:
    Smart Services use modern technologies and are closely linked to the current needs of potential users. They are a response to current requirements and at the same time create demand. To think in a customer-oriented way, put yourself in the shoes of your target group and look at the market from their perspective. Act from the consumer's perspective right from the start in order to create a successful offer. At the same time, consider whether there is a need to adapt your company structure. After all, it may be necessary to adapt the organizational and operational structure of your company to take account of the new, complex requirements in order to operate effectively and successfully.

Outlook for the future: How smart services for mobile machines are evolving

The future of smart services in mobile machine monitoring is promising. With the further development of technologies such as artificial intelligence and the Internet of Things, the possibilities of smart services will continue to increase. Manufacturers will be able to continuously improve their products and processes to meet market demands. The increasing networking of machines and the integration of data analysis will make mobile working machines more efficient and customer-oriented.

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