Product Development Lifecycle
The Product Development Lifecycle is a SILO or an island in itself. There are various steps in the cycle and are automated with the software to a large extent. The product is designed and developed with the help of software and now with cloud it is more easy and available readily on the shelf with IaaS; PaaS and SaaS for software products.There is an increase in the social software and the employees are exchanging ideas and also interact with the customers to develop a new product or a service. There is interaction between the business and the customer based on the product.
The another SILO or island is the customer life cycle.
The Customer Life Cycle starts with the need awareness and search for the solution. Google has provided a lot of help in this; people search for their need and do lot of research on the net. There are tools like youtube and others to provide knowledge about the problem and also the solutions. The net has a lot of data that provides help in the selection of a suitable solution and even compare the solutions on hand. The customer makes the purchase after due diligence available at hand. Now with the rise of social media the customer also shares lot of information with the business even after the purchase is done; the customer also has the power to share the information with the prospective customers and world at large. There is interaction between the business and the customer based on the customer.
Future will be more about integrating the two SILOs and automating the whole business. The business will have Production; Marketing and Sales. The three will be separate functions yet collaborate more effectively to be more productive and reduce time to market. The technologies like Social Mobile Analytics and Cloud will be more integrated and connect the business with customer at every touch point. There will be a continuous flow of information between the business and the customers to enable continuous product development.The business is slowly moving into a software defined social business. Software will be a great enabler to integrate the two SILOs; we can expect lot more innovation rolling out.