Week 2 Discussion Board

Background: The company you chose in Week 1 has decided to offer a new product/service line that takes advantage of the internet of things (IoT). The IoT can transform the products/services of a company by embedding products with sensors, software, and internet connections to collect and exchange data with other devices and systems.

Discussion: This discussion aims to identify how the internet of things (IoT) could be used to create a new product line and influence the business strategy. 

Using the company you selected in Week 1, research any IoT products/services already offered by your company. Determine whether any major competitors are offering products/services that take advantage of the IoT. 

Identify a new IoT product/service line that is different from any IoT products/services that your company may already offer. Describe the details of the new products/services and any similarities or differences with IoT products/services offered by competitors. 

Determine the data security and privacy requirements for the new IoT product/service line. Examine any risks and how your company can mitigate those risks. 

Specify how the new IoT product/service line might influence your company’s business strategy.