Companies can explore off-the-shelf software and platforms to get started with their Industrial Internet applications journey. Sooner or later, they will face the build versus buy decision.
Commercial off-the-shelf (COTS) software or hardware products are ready-made and available for purchase or consumption by the end customer(s). Google Nest is a COTS product that is a packaged home thermostat and associated software solution for the home user.
The World Economic Forum (WEF) advised customers and technology adopters to first reorient or realign their overall business strategy to embrace and fully benefit from the latest developments in the Industrial Internet. In this process, they will need to identify their new ecosystem partners. They will need to determine whether they should join a partner's IoT platforms or develop their own. Companies...
