On the Sample Information About Parameter and Prediction

The Bayesian measure of sample information about the parameter, known as Lindley's measure, is widely used in various problems such as developing prior distributions, models for the likelihood functions and optimal designs. The predictive information is defined similarly and used for model selection and optimal designs, though to a lesser extent. The parameter and predictive information measures are proper utility functions and have been also used in combination. Yet the relationship between the two measures and the effects of conditional dependence between the observable quantities on the Bayesian information measures remain unexplored. We address both issues. The relationship between the two information measures is explored through the information provided by the sample about the parameter and prediction jointly. The role of dependence is explored along with the interplay between the information measures, prior and sampling design. For the conditionally independent sequence of observable quantities, decompositions of the joint information characterize Lindley's measure as the sample information about the parameter and prediction jointly and the predictive information as part of it. For the conditionally dependent case, the joint information about parameter and prediction exceeds Lindley's measure by an amount due to the dependence. More specific results are shown for the normal linear models and a broad subfamily of the exponential family. Conditionally independent samples provide relatively little information for prediction, and the gap between the parameter and predictive information measures grows rapidly with the sample size.Comment: Published in at http://dx.doi.org/10.1214/10-STS329 the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org

Concurrent collaboration in research and development

Integration is the essence of current research and development (R&D) activity in many organizations. Integration can be established in various ways depending on the type, size and intricacy in organizational functions and products. Nevertheless, research and development (R&D) has become an inevitable function in most manufacturing companies in order to develop their own product niches for their survival in the prevailing highly completion market environment. Research and development functions are fundamental drivers of value creation in technology based enterprises. Of creating and maintaining a vibrant R&D environment, organizations individually or collectively need to incorporate virtual R&D team. A virtual R\&D team can introduce new product in less lead time than by conventional R\&D working. Therefore, how to increase the possibility of having more successful R\&D is a critical issue for enterprises. This paper examines the current approach of collaboration in R\&D issues from the perspective of their impact on virtual R\&D team in enterprises and compares the findings with the other concepts of concurrent collaboration. By reviewing literature and theories, the paper firstly presents the definition and characteristics of virtual R&D teams. A comparison of different types of virtual R&D teams along with the strengths and limitations of the preceding studies in this area are also presented. It is observed that most of the research activities encourage and support virtual R\&D teams applicable to enterprises. Distinctive benefits of establishing virtual R&D team have been enumerated and demand future attention has been indicated in the paper

SMEs and virtual R&D teams: a motive channel for relationship between SMEs

In today?s dynamic marketplace, manufacturing companies are under strong pressure to introduce new products for long-term survival with their competitors. Nevertheless, every company cannot cope up progressively or immediately with the market requirements due to knowledge dynamics being experienced in the competitive milieu. Increased competition and reduced product life cycles put force upon companies to develop new products faster. In response to these pressing needs, there should be some new approach compatible in flexible circumstances. This paper presents a solution based on the popular Stage-Gate system, which is closely linked with virtual team approach. Virtual teams can provide a platform to advance the knowledge-base in a company and thus to reduce time-to-market. This article introduces conceptual product development architecture under a virtual team umbrella. The paper describes all the major aspects of new product development (NPD), NPD process and its relationship with virtual teams, Stage-Gate system finally presents a modified Stage-Gate system to cope up with the changing needs. It also provides the guidelines for the successful implementation of virtual teams in new product development

Virtual R&D teams in small and medium enterprises: a literature review

Small and medium enterprises (SMEs) are the driving engine behind economic growth. While SMEs play a critical role in generating employment and supporting trade, they face numerous challenges, the prominent among them are the need to respond to fasting time-to-market, low-cost and rapid solutions to complex organizational problems. Towards that end, research and development (R & D) aspect deserves particular attention to promote and facilitate the operations of SMEs. Virtual R & D team could be a viable option. However, literature shows that virtual R & D teaming in SMEs is still at its infancy. This article provides a comprehensive literature review on different aspects of virtual R & D teams collected from the reputed publications. The purpose of the state-of-the-art literature review is to provide an overview on the structure and dynamics of R & D collaboration in SMEs. Specifying the foundation and importance of virtual teams, the relationship between virtual R & D team and SMEs has been examined. It concludes with the identification of the gaps in the existing literature's and calls for future research. It is argued that setting-up an infrastructure for virtual R & D team in SMEs still requires a large amount of engineering efforts and deserves consideration at top level management

Virtual teams for new product development: an innovative experience for R&D engineers

New interaction tools such as internet allow companies to gain valuable input from research and development (R\&D) engineers via virtual teams. Consequently, engineers also get more expertise in diminutive time frames. Virtual R\&D teams present the key impetus to the technology acquisition process. The present knowledge-economy era is characterized by short product life-cycles. Virtual R&D teams may reduce time-to-market, make available a large pool of new product know-how and provide greater flexibilities, which are the key success factors in a competitive market. This comprehensive review contains almost 100 references and covers the recent literature with emphasis on the topic. The review has focused on authentic and reputed publications and extracts the results. This article presents the type of virtual teams and their main features and explains how virtual R&D team can play a prominent role in developing new products. The article is evolved future study guideline and also illustrates how to apply virtual interaction tools and integrate engineers into the innovation process. Management of virtual R&D teams in new product development (NPD) processes in an innovative, effective and efficient is of a high importance, but the issue has been poorly addressed in the previous studies. Findings show that virtual R&D team provides valuable input for new product development and R&D engineers are able to attain virtual experience