Aberdeen Group Report Examines Industry Product Development Process

By DE Editors

Impact on Product Development: Improved or Significantly Improved (Source: Aberdeen Group, September 2008)

Getting the process right — with respect to not only how a company engineers and builds its products, but how well it aligns its product development efforts with its overall business objectives — is where companies stand to make the greatest gains. Aberdeen Group (Boston, MA) surveyed product manufacturers with successful records to find out how they differed from the rest.

Here are five compelling facts as a result of a process-improvement initiative:

Best-in-Class companies improved their success rates with new products or services by nearly 80 percent; Best-in-Class companies improved their ability to deliver more new and innovative products by 70 percent; Best-in-Class companies meet product-launch dates 2.3 times as often as Laggard organizations; Best-in-Class companies meet product cost targets 2.1 times as often as Laggard organizations; and Best-in-Class companies meet product development costs 2.1 times as often as Laggard organizations.

The full report is available from Aberdeen Group.

Sources: Press materials received from the company and additional information gleaned from the company’s website.