Trends, Social Patterns, and Maturing Technologies Elevate Industrial and UX Design to a Corporate Innovation Priority: 7 Ways To Create Value With Product Design by GGI
Big data algorithms and analytics are uncovering long-standing innovation mysteries resulting from the 5-12 years between an innovation investment and its ultimate results. Companies with strengths in industrial design, user interface design, sustainable design, digital design, and Design-For-IoT have stock prices and market caps that are at the top of their industries. At the same time, 3D Printing is maturing into legitimate Additive Manufacturing production capability, adding a whole new alternative to true production-design suites. Choosing correctly impacts profitability. Extreme miniaturization and tiny motors are on the horizon. Corporate prowess in product design had its first great heyday in the 1980s as electronic devices emerged. The smartphone and gaming eras gave UX and industrial design another boost.Today, we have a much better idea where long-term value comes from. The competition across industries on design parameters is about to get white hot.
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NEEDHAM, MASSACHUSETTS — (PRWEB) — February 27, 2019
7 Ways To Create Value With Product Design - March 14, 2019
This first program of three programs on the market and corporate value of product design, focuses on opportunities to design-in capabilities that will enhance product appeal and increase the value of products from their point of purchase throughout the product life cycle. We will discuss seven different opportunities, their success parameters, and the size of the economic opportunity for each. Big data analytics is showing surprising magnitudes for doing certain things. The least opportunity represents a 20% increase, while the largest ones represent upwards to 200% increases in revenue and profit from the same design effort and commercialized product.
For each of these 7 value creation opportunities during product planning and design, we will: provide a bit of history, describe the current status of the opportunity, provide facts and figures on the size of the revenue/profit and/or market cap opportunity, and offer our best thoughts on speed and progress in the near term.
There is a "Plus" section in this program which touches on how miniaturization of design, next generation motors, and a couple more topics will also begin to influence product design.
Bibliographic references are provided for the numerous cases and examples we cite to enable all participants to further their investigation on the subjects of specific interest. There will be two polls
A Historical Look At Design & The Next Coming
7 Design-Enhancing Values & Techniques
- Design For IIoT & IoTs
- Big Data Analytics Design
- User Interface Design
- Industrial Design
- Sustainable Design
- Design For X
- 3D Additive Design
- PLUS - Miniaturization, Motors, More, ..
What Lies Ahead?
The first program described above, kicks-off the Product Design Value 7-6-7 Plus Series. In its entirety, the 7-6-7 Series addresses twenty product design topics in three distinct programs. The first program identifies and addresses the value of designing-in next-generation capabilities, 7 topics. The second program addresses techniques to attain the maximum value from robust designs already achieved or in process, 6 topics. The third program addresses useful measures to quantify the degree and extent of design robustness and value, 7 topics. For each program there is an additional "Plus" section, where we highlight a number of subjects at a higher level that should also be on the radar of corporate, engineering, design, and marketing leaders. Each program is recorded live, edited, and put to music. If you can't make it live, there is an mp4 video to view at your convenience or with colleagues.
The second program focuses on opportunities to increase the value of products, portfolios, and brands that have been robustly designed, or are well along to that goal. We will discuss six different opportunities, and quantify the size of the economic opportunity for each. These opportunities all have double-digit potential to increase revenues and profits, and single digit for market cap. In some cases, incremental monies will be needed to realize the augmentation potential of the design or design-leverage ability.
For each of the value creation opportunities during product planning and design we will provide a bit of history, describe the current status of the opportunity, provide facts and figures on the size of the revenue/profit and/or market cap opportunity, and offer our best thoughts on speed and progress in the years ahead.
The Plus in this 7-6-7 Series program will cull-out selected awards and recognitions for good product design, as distinguished from the multitude of award and recognition program categories existing today.
The third program focuses on measures that characterize or quantify good design in the eyes of customers and users. While some measures also have utility for internal purposes such as product quality, reliability, and cost, this program centers on how customers, users, markets, and the investor community regard the products.
We discuss seven different KPIs that range from codifying the quality and robustness of ID and UX designs, to metrics that gauge pricing gross margins and potential market value, to indexes that provide for cross-market comparisons and market cap premiums.
The Plus in this 7-6-7 Series program will briefly touch on several other metrics relevant to good product design including customer satisfaction, completion rates, NPS, and others.
About GGI: Series Researcher & Producer
Founded in 1986, GGI has consulted to over 200 medium and large companies. Some 500 companies have participated in GGI's educational events. Since 1998 the company has performed primary and secondary research on R&D, product development, innovation, and metrics. With several hundred published articles and research reports, and an equal number of public and conference presentations, GGI continues to add value to the mindsets of corporate innovation leaders and executives who are in pursuit of results.
Goldense Group, Inc. [GGI]