Servitization is the process by which a company shifts its focus from selling physical products to providing a comprehensive suite of services around those products. The goal of servitization is to create new revenue streams, improve customer satisfaction, and increase customer loyalty by offering value-added services and solutions that go beyond the product itself. Servitization often involves the use of technology and data analytics to monitor and optimize product performance, enabling companies to offer more targeted and personalized services. This can include everything from predictive maintenance and repairs to usage based fees, training, and ongoing support. By moving beyond product sales and towards service-based offerings, companies can create long-term relationships with customers and differentiate themselves in a crowded marketplace. Servitization has become increasingly important in the age of the Internet of Things (IoT), where connected edge devices can be used to gather data on product usage and performance, enabling companies to offer more sophisticated and customized services. SA Engine from Stream Analyze can easily be used for servitization.

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