From The Blog

3 ways open data is revolutionizing product development | VentureBeat | Business | by Gil Sadeh, Signals Group

3 ways open data is revolutionizing product development | VentureBeat | Business | by Gil Sadeh, Signals Group GuestWhen we think of big data and...

GuestWhen we think of big data and product development, the discussion is usually about internal data: feedback on existing users, products, etc. But it’s when we turn our attention outward to the masses of unstructured data that we can understand not just what already exists, but what ought to be.

What people need and what they say they need isn’t always the same thing. This is an especially apparent truth in product development, where researchers and decision makers are often dependent on feedback captured via surveys or interviews where people may be biased, guarded, embarrassed, inarticulate or even forgetful. Regardless of industry, people in the business of product development can agree: This information gap can be a roadblock to introducing solutions that professionals and consumers across the board are clamoring for.

On the other side of the spectrum, incredible new ingredients and technologies — from robotics to voice recognition to sensors — are popping up across industries at breakneck speeds. In the rush to create the latest “it” product, developers often find themselves starting with a material and asking: “How can we use this?” When you’re trying to introduce a solution that people truly want or need, that’s a tough question to start with.

Somewhere between these two factors — what people really need and don’t have on one end, and what technologies can make a meaningful impact on the other — lies the sweet spot where the next breakthrough product is waiting. And as some leading companies have started to discover, open source data can lead you straight to it. Most recently I witnessed this play out with a company in medical device development — although the learnings from their experience are applicable across industries. Here’s why:

Read the full article – 3 ways open data is revolutionizing product development