[This article was co-written with Brandon Metzger.]
As the digital revolution dissolves industry boundaries, legacy companies are increasingly facing competition from non-traditional competitors. Look no further than the $800 billion trucking industry, where incumbent freight operators are spending millions to stave off disruption from startups using the latest technology and business model innovations to steal market share.
To thrive in this complex and rapidly shifting environment, organizations must not only understand their customers deeply, but also must be able to address those needs with products and services that exceed rapidly evolving customer expectations. And as technology becomes increasingly central to product and service development, CIOs and other technology leaders have an opportunity to engage with customers and contribute directly to the top and bottom line.
Read More from This Article: IDG Contributor Network: How product development drives competitive advantage in the digital age
Source: IT Strategy