Digitally driven new product development: an involved contemporary innovation case

Purpose The purpose of this paper is to study the impact of real-time data emerging from implementation of the Internet of Things (IoT) and netnography on the efficiency of the new product development (NPD). Design/methodology/approach Customer-oriented organizations are the ones that survive in the market with a flow of new products to the market. Expectations like reduced timelines with quality focus provoke innovations. Customer inputs become the soul for a successful product wherein it becomes important to keep a constant stream of information flow back from the market. Literature review states that real-time data gathering with the implementation of IoT ensures the same. Along with real-time data, researchers have envisaged the need to identify the customer persona before incorporating customer opinion and sentiments vide netnography. Findings The organization can leverage the collaboration of IoT origin real-time data and sentiment analysis to effectively manage the NPD. Real-time customer data coupled with customer opinions and sentiments prove to be a game changer in the NPD process. Originality/value The originalities of this study are impact of IoT origin real-time data coupled with sentiment analysis on the NPD process. While impact of IoT origin data is reported in isolation similar to sentiment analysis, influence of collaboration of real-time data with sentiment analysis on NPD process is reported in this study.