From the course: IoT Foundations: Fundamentals
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Other IoT products
- [Instructor] IoT products are external systems. Each generates data, which theoretically means they can be connected to each other like Lego blocks to deliver outcomes. The IoT platform is the technical underpinning that allows one product to be connected to another. Over time, that product will develop into a family of interconnected products. When companies can orchestrate their products to work together, they can deliver their customers' outcomes. One way to quantify the value of multiple connected products is with Metcalfe's law. Metcalfe's law states the value of a network increases exponentially with the number of its sources. Since each product is a data source, value goes up exponentially in proportion to the size of the product network. This together leaves us to the outcome economy. Like with Legos, the more parts to the system, the more value there is.
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