Top 5 Digital Product Development Trends for Better Applications
Digital Product development is about Products’ Connection with Users
The world has already seen all the routine work moving online. Companies must be always ready to cope up with the challenges in such a situation to come at par with their competitors. Last year has seen automation and digital transformation taking control over all traditional forms of services and operation in companies.
Digital product development is now more about having a resourceful service by brands or products to customers. Online or digital ecosystems have changed the way consumers perceive products.
According to a PWC study, digital product development is expected to increase efficiency by 19%, reduce time-to-market time to 17%, and reduce the promotion cost by 13% by 2025. No matter which sector your company belongs to, it is important to find the right mix of digital tools and digitized processes for digital product development.
What Digital Product Development Trends are Improving?
- Drive competitiveness: Clear strategy is helping to focus on business and keep your overall goal matched with customers’ needs & maintain ROI.
- Boost effectiveness: Effective tools, methodologies, and underlying processes boost effectiveness in the product development lifecycle. The concept of co-creation is also taking charge of the development cycle. This approach invites stakeholders (usually customers) to participate in the process of designing or solving problems in order to achieve mutually beneficial results.
Top 5 Digital Product Development Trends
The development team must foresee the outcomes before adopting new technologies in digital product development for building trust and better outcomes.
- Security Awareness: Among many digital product development trends, security awareness is becoming increasingly important for companies. The product owner needs to understand how the data circulates in the application and how to protect the information block. They should cover disaster and risk mitigation, password management, access to production data, and release upgrade procedures.
- Personalized Data-Driven Products: Mass personalization is becoming reality & technological advancements have brought processes and resources to connect with the user feedback that provides them an insight into how to make it more personalized with individuals.
According to Deloitte, customers are willing to pay 20% more for the products that are personalized.
Predictive Analysis: Its goal is to enable companies that develop complex products to expand various data, identify and predict process optimization areas. For predictive analysis, it is important to have a clear understanding of the current product development process while maintaining sufficient flexibility to continue to apply best practices as events progress.
For more important digital product development trends, read our blog.
Digital product development trends are bringing competitive advantage to companies willing to adapt to change in traditional methods. Companies can reap more profit when adopting new trends that bring effectiveness in the product development life cycle.
Digital Product Development Catalyzing Digital Transformation
The integration of digital technology and business is reorganizing the organization to focus on quality customer service, business value, and constant changes. The digital transformation is not just a simple change in IT technologies such as hardware, software, or digital platforms but it touches the core of business processes and transforms them to take advantage of digital opportunities.
Whether it’s data-driven or remote development, these trends are improving the roles and challenges of global product development. Strategic thinking and technical knowledge have become key requirements for owners of agile digital product development. Data-centric product development is a way of creating products from data as an important asset in the technology.
Most companies are coming up with creative product or application ideas to stimulate their audience by integrating new technologies in product development. Whether it is a company launching a product or a start-up company developing a new application, these trends will definitely help the company.
