Revolutionizing cost estimation for innovative products with data-driven solutions!
The article discusses a new way to estimate costs for developing innovative products by using data-driven methods early in the design process. Traditional cost estimation methods often rely on historical data, which may not be available for new, creative products. The researchers propose a through-life cost estimating method that incorporates product lifecycle management solutions to help manufacturers stay competitive and meet customer demands for innovation. This approach aims to improve cost prediction accuracy and support the development of innovative products.