The Role of Big Data Analysis in New Product Development

In recent years, the rapid development of Internet, Internet of Things, mobile application and Cloud Computing have led to the explosive growth of data in almost every business and industry area. Today, the big data technology and concepts have been gradually applied to the traditional industry from the Internet industry, big data has become an important driving force for economic reform and development. Market and consumer analytics is at the epicenter of a Big Data revolution. In this paper, we first briefly introduce the concept of big data, including its definition, features, and value. We then identify from different perspectives the significance and opportunities that big data brings to us. Next, we introduce the relationships among traditional marketing analysis (TMA), big data analysis (BDA), and new product development (NPD). We propose a big data analysis model to analyze the behavior of consumers in order to improve the competitiveness of new products. Finally, we conclude the paper by giving some suggestions on using big data analysis for NPD and some future research ideas.