The changes confronting R&D leaders, driven by software, Industry 4.0 and digitization, are significant: data flooding in from customers, devices, and sensors, combined with powerful analytical tools, are creating new sources of insight to fuel the development of products and services. New materials and breakthrough manufacturing techniques may vastly change the economics of many offerings. Customer behaviors and demand change quickly given the variety of offerings and the possibilities to compare products.
Current structures and available talent are not up to the new challenges in the market. Adapting to the situation by focusing on value drivers and keeping an eye on the trends is key for success.