New Product Development Fuels Big Data Strategy Evolution
A firm's success in new product development can be a significant driver for the strategic development and implementation of big data capabilities.
Journal of Business and Economic Studies · 2023
Key Findings
- 01New product development performance positively impacts the development of big data capability.
- 02Supply chain capabilities can enhance the development of big data capabilities.
Application
Design takeaway
Prioritize and measure new product development success as a strategic indicator for advancing big data capabilities.
How to apply
When evaluating a company's readiness for big data initiatives, assess its recent performance and strategic focus on new product development.
Project actions
- 01Consider how your design project's success metrics could indirectly influence or be influenced by data strategy.
- 02Explore how the process of developing a new product might generate or require data that could inform future strategies.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Addresses a gap in understanding the drivers of big data capability development.
- +Integrates multiple theoretical perspectives.
Limitations
Self-reported data can be biased, and the study doesn't detail the specific types of new product development or big data capabilities examined.
Reliability & validity
The study's reliance on survey data may affect its external validity, and further research could explore objective performance metrics.
Think critically
To what extent is the causality truly from NPD performance to big data capability, or could it be that firms with strong existing data capabilities are better at NPD?
Design Principles
"Innovation performance in product development can serve as a leading indicator and driver for the strategic adoption of advanced data capabilities."
Understanding this relationship allows organizations to strategically invest in innovation processes that not only yield new products but also build the foundational data infrastructure needed for future competitive advantage. It highlights how product-centric innovation can indirectly foster data-centric strategic development.
What This Means for Your Design
If a company is good at making new products, it's also more likely to get good at using big data for its strategies.
How to use in your project
- 1.Reference this study when discussing how the success of your design project can contribute to broader organizational capabilities, such as data strategy.
Add to My Project
Quick Cite
(2023). Innovation Performance Fosters Strategy Development: Evidenced in the Case of New Product Development and Big Data Capability. Journal of Business and Economic Studies. https://doi.org/10.53462/vol27i2a2 Retrieved from https://designdex.org/study/1479e956-01da-4d94-bd3d-ce2cce02ff9d/new-product-development-fuels-big-data-strategy-evolution
Paragraph starter
The research by Lin, Kunnathur, and Forrest (2023) suggests that a firm's success in new product development can act as a catalyst for developing its big data capabilities and strategy. This implies that the performance and outcomes of design projects focused on innovation can have a direct impact on an organization's ability to leverage data for strategic advantage.
Source
Journal of Business and Economic Studies
Innovation Performance Fosters Strategy Development: Evidenced in the Case of New Product Development and Big Data Capability
journal · 2023
View sourceQuestions about this research
- What does the research say about new product development fuels big data strategy evolution?
- Prioritize and measure new product development success as a strategic indicator for advancing big data capabilities. Evidence: Journal of Business and Economic Studies (2023).
- Why does "New Product Development Fuels Big Data Strategy Evolution" matter for design?
- Understanding this relationship allows organizations to strategically invest in innovation processes that not only yield new products but also build the foundational data infrastructure needed for future competitive advantage. It highlights how product-centric innovation can indirectly foster data-centric strategic development.
- How can designers apply this research?
- Prioritize and measure new product development success as a strategic indicator for advancing big data capabilities.
- What were the main findings?
- New product development performance positively impacts the development of big data capability.. Supply chain capabilities can enhance the development of big data capabilities.
- What research method was used?
- Quantitative survey research.
- How strong is the evidence?
- Evidence strength is rated Moderate effect, based on a 2023 journal from Journal of Business and Economic Studies.
- What should I do differently in my next project?
- When evaluating a company's readiness for big data initiatives, assess its recent performance and strategic focus on new product development.
- What are the limitations?
- The study relies on self-reported survey data, and the specific mechanisms through which supply chain capabilities enhance big data capabilities require further exploration.
- Is there evidence that big data affects design outcomes?
- Firms that are good at developing new products are more likely to develop strong big data capabilities, and improvements in their supply chain can further boost this data capability. Understanding this relationship allows organizations to strategically invest in innovation processes that not only yield new products but Source: Journal of Business and Economic Studies (2023).
- Where does this product development research apply?
- Business and economic studies, focusing on firm-level strategy and capabilities. It sits within innovation & design research on designdex.org.
Related research topics
big data design research · evidence on big data · does big data improve design outcomes · product development studies for designers · big data and product development findings · innovation & design research evidence