The Internet of Things

If everything is connected, the playing field between large and small companies should level out. All companies now have the opportunity to conduct product development with direct feedback and communications with their potential customers during the product development lifecycle. Social media has made this a much simpler task. More reliable data is now available in real time. The result of the interconnected platforms is a product development process customized as per the changing tastes of the people and, presumably, this process can provide a better product. With social media, you can easily post surveys and research and development information on social networking sites and launch prototypes to gauge feedback.

This changes ...

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