Elisabeth Häusler and Wolfgang Kremser (Salzburg Research) and Franz Huber (Private University Schloss Seeburg) were honoured with the Dick Marsh Award at the ISPIM Connects Salzburg innovation conference. According to the jury, the paper “Accuracy matters: overcoming challenges in IoT New Product Development through a Data-Value Chain lens” best demonstrates the impact of innovation management.

Accuracy matters: Abstract of the winning paper

Driven by the Internet of Things (IoT), the development of digital-physical products has gained importance in new product development (NPD). Especially for smart products such as wearables, innovation managers need to ensure that the product’s rigor corresponds with the company’s strategy. A key challenge is therefore to ensure appropriate validity and relevance of the collected sensor data in line with the intended use case and the value derived from this data. To address this issue, this paper explores IoT NPD through five case studies from the sports, fitness and health sectors, each at different stages of sensor technology and product maturity. The analysis reveals three challenges in terms of a nuanced understanding of the measurement accuracy of data, information and the value proposition itself. The study concludes with suggestions for potential strategies to mitigate the risks associated with these challenges, which in turn reduces the time and cost of IoT NPD.

About ISPIM Connects Salzburg

The three-day innovation conference ISPIM Connects Salzburg (11-13 December 2023) brought together leading innovation thinkers from academia, industry, consulting and the public sector. The programme included workshops, hot-topic and panel discussions as well as presentations on the latest academic research findings and case studies from industry. Excursions – including to Salzburg Research – made it possible to experience the flourishing innovation ecosystem in and around Salzburg.
www.ispim-connects.com