PRODUCT, PRODUCT & PRODUCT
Though the Indian IT world has operated on services; operations & maintenance, yet the world’s leading IT companies have scripted their success stories the product way. It may be hardware, networking, software, services & even innovative assembling with conspicuous innovation. Some companies like SAP are coterminous with the product. Products have been IT game changers. Blackberry, Cisco, Apple, Microsoft & Oracle all belong to that category. Finacle of Infosys has been the solo contribution of the Indian IT.
Product development is a series of steps starting form conceptualisation, design, development & marketing of the newly created goods or services. The basic objective of creating a product to cultivate, maintain & increase a company’s market share by satisfying a new or an increased demand. Quantitative research is helpful. There is another range of products which create a hitherto unknown niche market area for themselves & go ahead to become the market leader. Disruptive products have a disruptive market trajectory too.
The future of the Indian IT industry is totally dependent on its ability to reinvent itself, to make products. Recent success of WhatsApp meant a $19 bn sale of a company with just 32 employees speaks volumes of what a product can do. The sale of DeepMind, a London Artificial Intelligence company to Google for half a billion dollars, based its potential to create pathbreaking products. It’s successes with AI products like AlphaGo and AlphaZero in 2016 & 2017, proved Google’s faith.
The success of a five year company in mobile phones 1+, is what legends are made of. It is challenging the well established global players like Apple & Samsung right in their own den. Technologically ahead & offering the newest model, one plus 6 at unimaginable prices. It sold ₹100 crores within ten minutes of its online opening. With AI products & Blockchain gathering storm to bring a Tsunami type automation, only product creators with the capability to commercialise will only survive.
PRODUCT CREATION IS THE FUTURE.