AI-Powered Product Analytics in Med Tech Product Development - From Raw Data to Actionable Insights

Abstract

This study delves into the development and future of product analytics, with a particular focus on the capabilities of Artificial Intelligence (AI) in converting data into information that is useful and provides value. In doing so, the author describes the problems facing consumers in general and the CPG firms including, but not limited to, Tyson Foods, Cargill and Georgia-Pacific, and proposes an approach based on AI, which is intended to use the not inconsiderable data that are available. This includes research designs focusing on data acquisition, all the way to presentation and visualization in dashboards. We present constraint-decision models that take into account AI-data to facilitate better decisions, manage consumer relations, and enhance sales. Finally, the paper identifies the major conclusions reached as well as the constraints to the study and possible areas for further research to encourage the adoption and scale of AI product analytics by the sector.