Digitally driven new product development: an involved contemporary innovation case

Abstract

PurposeThe purpose of this paper is to study the impact of real-time data emerging from implementation of the Internet of Things (IoT) and netnography on the efficiency of the new product development (NPD).Design/methodology/approachCustomer-oriented organizations are the ones that survive in the market with a flow of new products to the market. Expectations like reduced timelines with quality focus provoke innovations. Customer inputs become the soul for a successful product wherein it becomes important to keep a constant stream of information flow back from the market. Literature review states that real-time data gathering with the implementation of IoT ensures the same. Along with real-time data, researchers have envisaged the need to identify the customer persona before incorporating customer opinion and sentiments vide netnography.FindingsThe organization can leverage the collaboration of IoT origin real-time data and sentiment analysis to effectively manage the NPD. Real-time customer data coupled with customer opinions and sentiments prove to be a game changer in the NPD process.Originality/valueThe originalities of this study are impact of IoT origin real-time data coupled with sentiment analysis on the NPD process. While impact of IoT origin data is reported in isolation similar to sentiment analysis, influence of collaboration of real-time data with sentiment analysis on NPD process is reported in this study.

Goliath vs. Goliath, IT product management at Amazon and IBM

“…This theoretical framework facilitates the analysis of the strategies and methods employed by companies to integrate consumer feedback into the new product development (NPD) process. Finally, the scholarly works concerning agile product development [15], digitally driven NPD [10], and the function of distributed data flow platforms in the Internet of Things and Blockchain [18,19] provide valuable perspectives on the procedural and technical advancements that form the foundation of IBM and Amazon's product development strategies, respectively.…”

“…• Open hubs [10] • PRFAQ [8] Service innovation "Service innovation" has become a term referring to innovation taking place in the various contexts of services, including the introduction of new services or incremental improvements of existing services. Whilst service innovation can take place in the service sector, it does not necessarily need to [11].…”

Continuous cycles of data-enabled design: reimagining the IoT development process

“…Although Jacobs and Cooper's new approach to IoT development (2018) and the eight-shaped model (Janne and Bogers, 2019) depict a continuous and never-ending IoT design process which reflects one of the main attributes of IoT development, they are limited in not integrating the whole NPD process nor fully reflecting the attributes of IoT design. The digitally-driven NPD model proposed by Yerpude and Rautela (2020) depicts the co-creation perspective of IoT NPD but it is not activity-based NPD model. The big data analysis model for market analysis (Yu and Yang, 2016) integrates big data analysis activities into the NPD process but does not illustrate the continuous feedback cycles.…”