Competing With Data & Analytics
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Connected devices and the data and analytics that drive them are fundamentally changing how companies think about and plan for product development. In fact, many companies are establishing new revenue streams by capitalizing on the huge demand for analytics-based data products. And this new category of products requires a reworking of the traditional phases of product development.
On December 1, MIT SMR coauthors Thomas H. Davenport and Stephan Kudyba discussed their recent article, “Designing and Developing Analytics-Based Data Products” in a live webinar. The authors looked at the ways in which the internet of things, market forces, and evolving technology are changing how companies plan the development of data products.
In the webinar, the authors discussed:
- Why development of data products needs a structure
- The seven steps for development of data products
- How and why to involve stakeholders in the process
- Examples of companies that have redrawn their product development processes