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Title: Data-intensive IoT new product development: a review and future directions

Authors: Elisabeth Häusler; Wolfgang Kremser; Veronika Hornung-Prähauser; Franz Huber

Addresses: Salzburg Research Forschungsgesellschaft, Jakob Haringer Strasse 5/3, Salzburg, Austria ' Salzburg Research Forschungsgesellschaft, Jakob Haringer Strasse 5/3, Salzburg, Austria ' Salzburg Research Forschungsgesellschaft, Jakob Haringer Strasse 5/3, Salzburg, Austria ' Seeburg Castle University, Seekirchen am Wallersee, Austria

Abstract: Commonly referred to as data-driven product development, incorporating data science into product development to create value out of sensor data is a key challenge and involves unpredictability and invention risk. However, different studies in the current literature rely on different conceptualisations in this interdisciplinary research field, and the literature is scattered. To address this issue, this paper provides a review of recent academic literature on New Product Development (NPD) for the Internet of Things (IoT). The work reveals that distributed literature lacks a standardised process for guiding managers to handle the data product development process of smart products.

Keywords: internet of things; new product development; smart product; data science; sensors; data-intensive; data-based value creation.

DOI: 10.1504/IJPD.2023.133068

International Journal of Product Development, 2023 Vol.27 No.3, pp.265 - 292

Received: 21 May 2022
Accepted: 23 Feb 2023
Published online: 29 Aug 2023 *