Real-time monitoring data on product condition and product control capability enables firms to optimize service by performing preventative maintenance when failure is imminent and accomplishing repairs remotely, thereby reducing product downtime and the need to dispatch repair personnel. Even when on-site repair is required, advance information about what is broken, what parts are needed, and how to accomplish the fix reduces service costs and improves first-time fix rates. Diebold, for example, monitors many of its automated teller machines for early signs of trouble. After assessing a malfunctioning ATM’s status, the machine is repaired remotely if possible, or the company deploys a technician who has been given a detailed diagnosis of the problem, a recommended repair process, and, often, the needed parts. Finally, like many smart, connected products, Diebold’s ATMs can be updated when they are due for feature enhancements. Often these can occur remotely, via software.