From Padlocks to IOT: Master Lock’s Keys to Digital Transformation
In recent years the confluence of cloud computing, faster networking, mobile, edge device processing, and sensor technologies have converged to enable formerly inanimate objects to start talking. We all know this as the IOT, or the Internet of Things. Companies across the globe have leaped into the fray to ride the wave of this new way of delivering innovative services, optimizing performance, zeroing in on targeted sales opportunities, and at the core, collecting data to drive better and faster decision-making. This presentation takes the perspective of a nearly 100 year old manufacturing company producing mechanical padlocks and it’s decision to purposefully enter the IOT doing what it does best, that is, produce portable locking devices, but newly improved with intelligence added.
- Your strategy in a digital transformation must align to what your brand permits you to do in the eyes of your customers
- Alignment of the company is critical to ensure success in the new venture
- Be relentless in the pursuit of quality and user experience
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