Predictive Innovation Overview

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Information about Predictive Innovation Overview

Published on February 27, 2009

Author: MarkProffitt



How the Predictive Innovation reliably creates targeted high value innovations on demand using resources you already have or can easily get.

Use Predictive Innovation to build sustainable strategies with continuously high margins, exceptional return on investment, low risk and that neutralize competition so you can save your business in tough economic times and even grow.

How to improve ROI, increase profits, and decrease risk. by Mark Proffitt + 1 312-239-8656

Why use Predictive Innovation ? ® Increase profits Reduce risk Neutralize competition Start creating innovations BEFORE needed Solve seemingly impossible problems Accurately evaluate Return on Innovation +1 312-239-8656

Ways to Use Predictive Innovation Find Solutions Create Business Strategies Reveal Entire Patent Space +1 312-239-8656

Ways to Use PredictiveInnovation Find Solutions Process improvement Engineering Problem Conflict Resolution +1 312-239-8656

Ways to Use PredictiveInnovation Create Business Strategies Create higher value products & services Improve business models Neutralize competition Reduce risk +1 312-239-8656

Ways to Use Predictive Innovation Reveal Entire Patent Space Protect your intellectual property Find ways around others patents +1 312-239-8656

What is Innovation? Best definition of innovation is: “Satisfy customers unmet desires” +1 312-239-8656

Satisfy customers unmet desires Do something new or better Do something someone wants done Make money doing it +1 312-239-8656

7 Essential Steps to Innovation Reveal Communicate Make new emerging value to product expectations customers Convert Deliver Generate ideas into new ideas designs product Get and use feedback +1 312-239-8656

Seven Qualities Efficient Low-Risk Controllable Repeatable Competitive Reliable Just-in-time +1 312-239-8656

Seven QualitiesEfficient Produce large number of high quality results with low effort and minimal costLow-risk High success with low loss. Ideally, all new products are appreciated and purchased by customersControllable Where and when needed, new product ideas are produced on- demandRepeatable Any committed and smart team produces the desired results without special talent or particular individualCompetitive Deliver new products that outperform all competitionReliable Every time new products are needed ideas are created and implementedJust-In-Time Introduce products to market exactly when customers begin to want it, no earlier & no later +1 312-239-8656

Combine 7 Steps & 7 Qualities Reveal emerging expectations Efficient Generate ideas Low-Risk Convert ideas into designs Controllable Make product Communicate value X Repeatable Competitive = Complete Innovation System Deliver product Reliable Get feedback & improve Just-in-time+ Give all participants compelling reasons to use the system+ Match the companies other processes and approaches +1 312-239-8656

Innovation is... “Satisfying customers unmet desires” +1 312-239-8656

How to satisfy a desire Customers want to perform a task such as: Listening to music Cooking Resolving a legal dispute Falling in love +1 312-239-8656

Desires relate to a task Many different desires are related to a task Performing the task satisfies the desires Such as listening to music: Eliminate boredom Feel happy Share an experience with a friend +1 312-239-8656

Desires are subjective Subjective desires are: Difficult to express ??? Personal Often change Often impossible to measure Difficult to satisfy +1 312-239-8656

Convert Desires into Outcomes Subjective desires can be translated into objective outcomes. Outcomes can be observed and measured ??? Y Z X +1 312-239-8656

Tasks have fixed set of outcomesTask requires complete set of outcomesOutcomes never change for a taskOnly criteria to meet an outcome can changeWHEN A and B and C THEN Task is Completed +1 312-239-8656

Set of outcomes Most tasks can be described with approximately 7 high level outcomes Split complex tasks into sub-tasks +1 312-239-8656

Outcome elements Outcomes consist of 7 element types C B T A O E R +1 312-239-8656

15 Alternatives For every element there are 15 types of innovation alternatives + - = → ~ 1 m ∞ +1 312-239-8656

105 Alternatives per Outcome Each outcome has over 105 ways to innovate. There can be many innovations for each way 1 m ∞ + - = → ~ + - = → ~ + - = → ~ O T C R B E +1 312-239-8656

Complete Innovation Space On average 735 general ways to innovate for each task Minimum of 105 Outcomes x Elements x Alternatives = Ways to Innovate 7 X 7 x 15 = 735 +1 312-239-8656

Additional Areas of Innovation 9 tasks related to each primary task 8 customer interactions Those provide an additional 7,560 areas of innovation within the same market +1 312-239-8656

87% of Value Missed Most industries only cover 13% of the possible innovation space. Most businesses are variations on the same idea. This quickly causes price competition. 87% Free Space “Blue Oceans” +1 312-239-8656

Less than 1% of InnovationPotential Most products or services only address one alternative for 2-3 elements of 1-2 outcomes. Only 0.82% of the innovation potential. Outcomes x Elements x Alternatives = Ways to Innovate 7 X 7 x 15 = 735 total way 2 X 3 x 1 = 6 covered 6 / 735 = 0.82% +1 312-239-8656

Missed Value Increases Risk 0.82% of potential covered by most innovations. Value is left on the table. Less than 20% of options are ever explored. Many higher value lower risk options missed Large openings for disruptive innovation. Risk of Disruptive Innovation { Total Explored Covered +1 312-239-8656

Value of Predictive Innovation Accurate metric of value and risk for an innovation investment. Provides map to collect the highest value as quickly as possible with the least risk. Describes what to offer, how to develop it, plus strategies for maximizing value. +1 312-239-8656

Contact Us Training +1 312-239-8656

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