If businesses are to deliver the returns that shareholders demand, they need a bigger contribution from their innovation efforts.
But they are unlikely to get one unless they focus from the start on ideas that will actually grow their business, not just those with large volume predictions.
In this feature, we challenge traditional innovation models with the numbers that prove only an incrementality-focused approach can deliver the innovation-led growth businesses need:
- Why 80 per cent of new products fail, and only one per cent of those receiving investment result in a successful launch
- How taking incrementality into account would result in different concept screening decisions 40 per cent of the time
- The techniques that enable individual-based models to double the accuracy of incremental sales forecasts
- Why companies are having to sift through 1,000 ideas for every successful product launch – and how interrogating where opportunities hide can help.
(29 downloads)
