Incorporating Data Science into IoT New Product Development: A Critical Review and Research Agenda.

Häusler, E.; Hornung-Prähauser, V.; Kremser, W.; Huber, F. (2021): Incorporating Data Science into IoT New Product Development: A Critical Review and Research Agenda. In: R&D Management Conference 2021

Internet of Things (IoT) product development is using miniature sensors to produce vast amounts of data at high velocity. It is a key challenge for organizations to incorporate Data Science into smart product development to create value out of data. While literature in IoT New Product Development (NPD) emphasizes the technical assessment phase, there is a gap in the systematic study of process models that include specific steps for Data Science. The paper aims to provide a comprehensive review of the emerging research field incorporating innovation management and Data Science by conducting a scoping review. Results reveal that IoT New Product Development theory is still an underexplored concept in innovation management research, as none of the investigated concepts and models captures the entire data-value chain. The paper ends with directions for future research.

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