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Increase Profits with Predictive Innovation
- All the ideas customers want
- Best idea for you
- Deliver at the right time
- Family of related products & service
- Build on a core, you control
Ideas customer's don't want are a waste of time and money. The first thing Predictive Innovation does is identify the criteria for what customers want. The criteria or Outcomes, are one of the dimension used to define the idea space. Since the idea space has clear boundaries and is neatly organized, you can quickly and accurately describe each idea customers will want and immediately see if anything has been overlooked.
The best idea for you uses resources you already have or can easily get. Its more profitable than any other option, it fits into a long term strategy, and its something immune from competition. Since Predictive Innovation describes the entire idea space, you can see all the ideas and compare them so you can find the truly best ideas. Predictive Innovation also shows you how to do those ideas so you won't reject ideas that appear difficult when there is a profitable way for you to deliver them.
The right time is when customers start to demand it and not a moment too soon or too late. Since it takes time to get a product or service ready for market you need to know what the customers will want in the near future. Predictive Innovation shows you what will be innovative five to six product generations into the future. This gives you plenty of time to develop the product and introduce it when customers will pay the most.
Predictive Innovation also tells you when to expect the product to decline so that you aren't investing in a declining market.
Furthermore, because Predictive Innovation also solves the technical challenges it reduces your time to market. You only work on products you can build to the qualifications customers will demand.
Predictive Innovation shows the highest profit products but it also shows you the connections between products and services. Instead of only collecting the low hanging fruit, you can systematically gather all the value. This creates synergy and reduces costs by building on your successes.
Predictive Innovation shows all the connections so you can focus on a core platform or concept you can control. This allows you to provide breakthroughs to the market, while from your perspective only making incremental changes.
Your core is a foundation and framework. You can quickly just to the changes to avoid disruptions. Since all your future products are based on a core that you control, you develop more products in less time with a smaller investment. You increased profit margins, volume, plus have diversification without the extra cost.
All of that helps you increase profits. When everything else is equal, people using Predictive Innovation techniques are 95 times more profitable.