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Innovation – Digital Insights

Article 19 May 2021 Read time: 3 min

Innovation – Digital Insights

The fourth domain of digital transformation is innovation: the process by which new ideas are developed, tested, and brought to the market by businesses. Traditionally, innovation was managed with a singular focus on the finished product. Because market testing was difficult and costly, most decisions on new innovations were based on the analysis and intuition of managers. The cost of failure was high, so avoiding failure was paramount.

Today’s start-ups have shown us that digital technologies can enable a very different approach to innovation, one based on continuous learning through rapid experimentation. As digital technologies make it easier and faster than ever to test ideas, we can gain market feedback from the very beginning of our innovation process, all the way through to launch, and even afterward.

This new approach to innovation is focused on careful experiments and on minimum viable prototypes that maximize learning while minimizing cost. Assumptions are repeatedly tested, and design decisions are made based on validation by real customers. In this approach, products are developed iteratively through a process that saves time, reduces the cost of failures, and improves organizational learning.

We at Pi-One has enabled our customers to think out of the box and have enabled them to make user stories richer and compelling through smarter, timely visual representations of data and enable faster and smarter business decisions resulting in saving of time, costs and efforts and enhanced customer satisfaction.

We create deeper connections to people who matter the most. Our user stories, personas and goals help to redefine innovation in a meaningful way to our customers. We help in creating proof of concept and do product validation by creation of minimum viable products. Our dedicated specialist teams help in commercial modeling and help in preparing goto market plans besides assisting in Angel investments.