{"id":4859,"date":"2017-08-09T12:13:00","date_gmt":"2017-08-09T17:13:00","guid":{"rendered":"https:\/\/blog.planview.com\/?p=4859"},"modified":"2022-04-05T16:03:58","modified_gmt":"2022-04-05T21:03:58","slug":"product-innovation-at-work-real-world-use-cases","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/product-innovation-at-work-real-world-use-cases\/","title":{"rendered":"Product Innovation Management at Work: Real-World Use Cases"},"content":{"rendered":"

In today\u2019s race to digital convergence, it\u2019s becoming more imperative to engineer product innovation management<\/a> into the development process. This is about more than coming up with good ideas. From a product development standpoint, Tech-Clarity<\/a> defines \u201cinnovation\u201d as \u201cDeveloping, acquiring, or applying capabilities to meet market needs and developing those capabilities into new or greatly improved products to provide new customer value.\u201d<\/p>\n

Product organizations strive for this daily, yet studies show that about 75 percent of new products fail or fall short of their financial goals<\/a>. Why does this keep happening? It\u2019s everything from picking the wrong products to bad execution to missing market windows.<\/p>\n

Research through the years has consistently found that the number one pain point of product organizations is too much work and not enough people to do it. Not only that, but product development folks often have limited visibility into incoming demand, so they cannot prioritize their people and work effectively.<\/p>\n

Why is this the case? It all comes down to tools. Too many organizations are using the wrong tools\u2014including spreadsheets\u2014to manage an increasingly complex process.<\/p>\n

As a result, companies are struggling to effectively:<\/p>\n