THE IMPACT OF DIGITAL TRANSFORMATION ON PRODUCT DEVELOPMENT EVOLUTION

Georgiana Trif, Teodora Odette Breaz, Ioana Andreea Ciolomic, Mohammad Jaradat and Teodor Florin Cilan

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2024, vol. 18, issue 1, 64-74

Abstract: The rapid advancement of digital technologies has revolutionized product development, transforming how companies conceive, design, and bring products to market. This paper examines the profound effects of Digital Transformation (DT) on product development methodologies, highlighting how the integration of technologies such as Big Data, Artificial Intelligence (AI), the Internet of Things (IoT), and Agile development has reshaped the innovation process. By reviewing key strategies such as the Stage-Gate model, Agile development, prototyping, and crowdsourcing, the study explores how businesses can leverage these tools to remain competitive in an increasingly dynamic global market. The analysis emphasizes the shift from traditional linear approaches to more flexible, customer driven methodologies, allowing faster adaptation to market changes and consumer needs. The paper also discusses the challenges posed by digital transformation, including organizational structure shifts and data security concerns. Ultimately, this research provides insights into how companies can navigate the evolving digital landscape to enhance product innovation, improve customer satisfaction, and drive sustainable growth.

Keywords: innovation; digital transformation; product development; product innovation. (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:18:y:2024:i:1:p:64-74

DOI: 10.24818/IMC/2024/01.06

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