Insight and Technology Commercialization
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Summary of Technology Development Challenge and Solutions
While headlines often showcase the success of early stage technology development and commercialization, both start-ups and large companies struggle to realize desired ROI from Research and Development efforts (R&D). Disappointing outcomes mainly stem from two related obstacles:
1. inability to obtain credible relevant information about the particular marketplace and
2. challenges embedding that information in the technology development process (e.g. consistent, appropriate data use by different functions) |
Information about needs for may be available from current customers. But, that often doesn't form the most credible basis for decisions, because:
1. it often represents specific care-bouts, instead of a market norm,
2. unless dealing with a product or service consumed for a long time, it's unlikely customers have mature insights to predict future needs and 3. the uncertainty factor rises significantly when asking customers to anticipate the needs of other buyers |
By their nature, requirements are usually subjective and emotionally charged. Finding buyers to represent true market needs can be a challenge.
Core UPtimizm services to support clients with technology initiatives:
Customer Ecosystem Mapping
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UPtimizm conducts workshops where constituents from each stage of the value chain collaborate to map out activities across a business cycle. This collaborative approach builds a stronger understanding about the complete spectrum of direct and indirect customer needs.
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Outcome-Focused Product Development
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To collect an actionable, stable set of market-needs information, UPtimizm can function as an independent party, conducting interviews with internal and external stakeholders. We aggregate data and remove duplicates, to create a list of desired performance and quality outcomes. After customers add ratings of importance and satisfaction, this can guide firms to the highest-value development opportunities.
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Screening Technologies for Market Value
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Even if “R&D-relevant” market information is available, various obstacles complicate efforts to translate insight into a clear list of mandates for R&D. Progressive companies are “hardwiring” validated market needs information into technology prioritization decisions—effectively establishing a common language for translating technical improvements into market impact.
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UPtimizm has assisted clients to improve the tie between market-defined needs and statements of requirements used in R&D decision-making. For one client, we built a quantitative valuation model that ranked the likelihood of early-stage concepts to achieve customer-desired outcomes (wants which are not fulfilled by current offerings). Model results were then used as inputs to technology decisions.