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The consulting firm A.T. Kearney published results of a client who reduced their concept development cost by 400% and generated $750 million in new sales by using Predictive Innovation. Well on the way to $ 1 billion from just one client. They are a large consumer goods company so you can likely outperform their results. Since I formalized Predictive Innovation over 12 years ago people asked for case studies about the success of using it. Hopefully, this will satisfy the fence sitters and get this innovation revolution rolling.
Some of the other results are equally fascinating. They increased their concept-to-new product conversion ratio by 9x. That type of improvement is typically unheard of in big companies. Keep in mind that their ratio is still only 27%. They can easily increase it another 3x for a total of 27x. Imagine how much your top line would grow if you released 27 new profitable products.
They also increased their project success rate 2.5x from 20% to 50% which is still low but 2.5x success meant a 300% return on investment. That beats the stuffing out of the stock market.
If you work at a large company this proves you can make large improvements. Their results were not a special case. In fact, they were low. You can do much better especially if you are in a low innovation industry. You have more opportunities for big improvement. And if you are in a high growth industry the sky is the limit. The important thing is there is a proven method to reliably create high value innovations from readily available resources.
I’ve been publicly saying for over 12 years you can predict innovation. You can get reliable results. You can drastically increase your sales and your new product success rates. Hopefully now that big firms are announcing the benefits more people will ask me to help them create the innovation results I’ve demonstrated are possible.
Anyone can learn how to quickly solve seemingly-impossible problems. This self-paced online class is a brief introduction to Predictive Innovation® you can use in your life immediately.
When I say anyone I mean it. Children or adults can understand and use the skills taught in this class. You can use the technique any time you want a better option or a different idea.
This easy to understand class teaches you how to use one of the 15 Alternatives to solve problems and find innovations. The technique introduces you to skills needed to describe the entire idea space and predict innovations.
Predictive Innovation® Core Skills: Inversion This course is being re-done, signup at www.PredictiveInnovation.com to be notified when the new course is offered..
Learn how to reliably create profitable new products on demand, apply solution finding techniques for products, services and processes, predict future innovations, and locate areas of innovation potential.
2 day event 4 hours each session, May 11 & 12
Covers all the skills needed to improve products or processes.
– Writing an Ideal Vision Statement
– Revealing Emerging Expectations
– Describing Outcome Statements
– Creating Outcome Diagrams
– Identifying Dilemmas
– 5 Steps to Resolve Dilemmas
– Outcome Expansion
– 7 Basic Elements of an Outcome
– 15 Alternatives Grid
– Easily Convert Ideas Into Designs
– 105 Innovations for any Product or Service
– Calculating a Preliminary Innovation Quotient