For product innovators, the stakes have never been higher with data completely revamping how product innovation takes place. Insight into constantly evolving customer behaviours, preferences, points of purchase and technology adoption, in addition to simultaneously managing the lifecycle of multiple types of products helps product innovators work on new feature design and development, changes in product bundling, or new products altogether.
Impact areas
Business model innovation
Accelerate growth in shortening business model cycles by breakthrough innovations in product and service value creation for discovering new markets and business opportunities.
Revenue opportunities
Increase revenue opportunities through better bundling strategies based on competitive data from customers and product demand from the market, for better promotion and pricing.
Product quality
Gain greater visibility into product quality and relevance through customer service, product reviews, and sales data through business apps and various external consumer forums.
Lifecycle management
Better manage end-to-end product lifecycle with the ability to identify product improvements, incremental changes, and major enhancements to products.