Unknowns Cause Risk
Predictive Innovation reduces risk by providing decision makers the comprehensive list of options so you can choose the best strategy.
Comprehensive is the key. The only way to make the best decision is to have full information of all your options. Not just better. Not just more. Predictive Innovation shows you the whole picture, organized so you can see and choose the best.
Unknowns cause risk. Lack of information and the uncertainty of the future causes the risk you must deal with. Top level decisions always involve uncertainty. Big decisions are complex. There can be 1000s of Alternatives. You don’t have the time or resources for Trial & Error.
You need a better way.
That’s why you need Predictive Innovation.
In simple terms, risk breaks down into what you know and what you can control.
The area you know & can control is the most comfortable. But, it also tends to have the most competition.
The biggest value is already gone because you are copying or making incremental changes.
The other known area is risky because you can’t control it. The sensible strategy is to avoid that area because the risks are unacceptable.
Black Swan Risk
The truly high risk area is the one you don’t know about and you can’t control. What you don’t know can and probably will hurt you.
That area is where the “Black Swans” live. “Black Swans” are events that take everyone by surprise because common knowledge says they aren’t supposed to exist.
The uncontrolled unknowns are very risky.
Missed Opportunity Risk
The last area is the most valuable. Its the area you don’t know about but could control if you realized it’s available.
If the competition finds this area first they can disrupt your business.
Reveal Unknown Opportunities
A fundamental principle of Predictive Innovation is anything you can make or do must be able to be described. Therefore, anything you have control over is possible to know about.
When Predictive Innovation reveals those previously hidden options you now have new opportunities for growth. These tend to be much higher value because these options are still untapped.
These have less competition and increased margins ideal for top line growth.
More Knowledge = More Control
Just knowing about an option allows you to implement strategies to deal with things you can’t directly control. Still other options, might be totally out of your control; but, knowing about those options allows you to mitigate the risk
Predictive Innovations reveals more than what to make it reveals how to to make it. Many time revealing better ways. This gives you the advantage to:
- Gain market share
- Reduce costs
Finally, there are options that aren’t fully controllable.
Some of those options are too risky to implement but knowing that allows you to avoid those options. This frees up resources to invest in lower-risk higher-profit options.
Others might be future developments or long shots that could be big winners. Predictive Innovation gives you the information required to make a fully informed decision.
With Predictive Innovation
The results of Predictive Innovation are evident. You can clearly see the risk has been drastically reduced.
You have large areas of new growth opportunities. You have competitive advantages in areas others believe are too risky. Plus, you have increased control putting you fully in charge of your future.
Thanks to Predictive Innovation.