Now that sensors can be embedded into products to connect them to the Internet of Things, any company offering products traditionally designed with mechanical and electric engineering can also consider embracing data and software strategies. But hardware companies moving into software businesses will need to adapt their business model and develop new capabilities, explains BCG’s Massimo Russo. They will need to consider on which platform they will build their new offerings, how can they can monetize their new offerings, and which capabilities they will need to build in house.

Massimo Russo is a core member of the Technology Advantage practice at The Boston Consulting Group, and a member of the firm’s Industrial Goods; Operations; Technology, Media & Telecommunications; and Strategy practices. He became a BCG Fellow in 2017. As a Fellow, Massimo is using his experience counseling clients on technology to develop a perspective of the Internet of Things and its impact on business.

Massimo helps clients build competitive advantage through technology, with a focus on industrial clients. Since joining BCG in 2001, he has advised clients across a number of sectors, including automotive, engineered products, and technology. He played a lead role in supporting the Presidential Task Force on the Auto Industry in evaluating the restructuring of General Motors and Chrysler.

Before joining BCG, Massimo worked at GE Aircraft Engines, leading its Destroy-Your-Business.com group. He started his career as a product development engineer for Product Genesis.

AREAS OF EXPERTISE

EDUCATION

  • MBA, Harvard Business School
  • MSc, mechanical engineering, Massachusetts Institute of Technology
  • BS, mechanical engineering, Massachusetts Institute of Technology

HONORS AND AWARDS

  • Three patents for 3-D printing, medical, and automotive products
  • Led research at MIT Media Lab on 3-D tactile interfaces for virtual environments

Publications and Videos

Making Technology Transformation Competitively Relevant - rectangle

Making Technology Transformation Competitively Relevant

Realizing the digital promise and gaining a sustainable advantage take much more than investments in technology. Companies need to expand their perception to discover hidden relationships.
The New Tech Tools in Data Sharing

The New Tech Tools in Data Sharing

A complex marketplace is taking shape. Corporate management teams with data-sharing interests need to get up to speed.
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Where Is Data Sharing Headed?

Companies thinking about participating in data ecosystems need to consider the opportunities and risks that the various models present.
Sharing Data to Address Our Biggest Societal Challenges

Sharing Data to Address Our Biggest Societal Challenges

Participating in data ecosystems can be a critical part of a company’s comprehensive total societal impact strategy and a foundation for sustainable business model innovation.
Europe Needs a Smarter, Simpler Data Strategy - rectangle

Europe Needs a Smarter, Simpler Data Strategy

The new European Data Governance Act is a good first step, but there’s room for complementary initiatives.
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Simple Governance for Data Ecosystems

If companies are not willing to share their data, ecosystems die on the vine.
How Far Can Your Data Go? - Rectangle

How Far Can Your Data Go?

How should companies think about use cases that are distant, unknown, or do not yet exist?
What B2B Can Learn from B2C about Data Privacy and Sharing - rectangle

What B2B Can Learn from B2C About Data Privacy and Sharing

B2B companies need a plan for IoT and other enterprise data privacy.
The Risks and Rewards of Data Sharing for Smart Cities

The Risks and Rewards of Data Sharing for Smart Cities

Innovation versus privacy leads the list of challenges as cities seek to boost intelligence and insight.
Innovation, Data, and the Cautionary Tale of Henrietta Lacks

Innovation, Data, and the Cautionary Tale of Henrietta Lacks

What the story of one woman's cancer cells, which have fueled 70 years of medical R&D, portends for data collected from the Internet of Things.
Contact Tracing Accelerates IoT Opportunities and Risks

Contact Tracing Accelerates IoT Opportunities and Risks

Data and data sharing are at forefront of the response to the novel coronavirus.
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Orchestrating the Value in IoT Platform-Based Business Models

The Internet of Things presents a new opportunity for value creation—and a risk for those who ignore it.
Deep Expertise, Broad Experience