New Products Development Data Analytics

New Product Development Data Analytics

New products must come from somewhere. They basically originate from ideas provided by customers, experts, and employees. These ideas are collected in the form of survey data, text data, and transactional/website data. Converting this data into rich information for product development is often an issue. To help, Data Analytics Corp. moves you across the analytical bridge for new product development using:

Making a Profitable Product

Data Analytics Corp. believes that new products fall short for three reasons: Product Design Issues, Pricing Problems, and Messaging Failures.
New Product Flow Chart

We analyze data to help clients minimize or avoid these three sources of failures by advocating a process involving deep data analysis for small and big data as illustrated in this figure:

Process Involving Deep Data Analysis

Deep data analysis is involved at each stage: text analysis for Ideas, Conjoint and Kansei Analysis for development, discrete choice for testing, message ranking and TURF for launch, and big data analysis for tracking.