This paper identifies the particular difficulties faced by small and medium-sized enterprises (SMEs) in the product development process (PDP) and proposes concrete smart data solutions to address them. The results show a thorough evaluation of general smart data approaches as well as a particular mapping to the problems of PDP. With the help of a decision tree, SMEs in the PDP can use smart data technologies in a targeted and appropriate manner. SMEs must constantly reposition themselves in light of the current challenges posed by megatrends and Industry 4.0 in order to remain competitive. In the future, SMEs will have to innovate faster, adapt more quickly to changes and respond better to customer needs. In particular, Smart Data as a current research topic in the context of Industrie 4.0 raises new problems for the design of PDP in the manufacturing industry.