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It’s a long read, but I encourage you take a look before reading on.
If you dig into the comments you'll find that Venkat had a set of experiences in his professional life that made him frustrated with people becoming overly-analytical. He feels surrounded by people using statistics to “avoid thinking” and ultimately deflect blame for failures to the analytical model.
When Venkat says some bring the data driven model to a “holy activity”, that’s no joke and for many his comments are like an assault on their religion. Data is a tool so powerful, it’s no wonder it’s prompted a level of near-religious following. I'll count myself amongst followers in that church.
Getting back to the root point of the post, here's my comments on the issues raised and I'd like to hear what our readers think as well.
As we continue our poll series to understand the priorities and challenges that product executives face, I wanted to share the results from the fourth poll. This poll was focused on portfolio management and the challenges faced. There were again over 200 responses representing a solid cross-section of product management, sales, marketing and development roles across all types of industries and geographies.
The question was: What are your biggest product portfolio management challenges?
Join us for a discussion with ideation expert and industry leader, Luke Hohmann, Founder and CEO, of Innovation Games, Inc., on how Innovation Games can enhance the Product Portfolio and provide higher visibility and stakeholder alignment. Innovation Games helps companies improve business performance through collaborative and cooperative play. As the leading producer of online and in-person Serious Games, we invite you to explore our site to learn how we can help you solve complex problems in Sales, Corporate Strategy, Marketing Strategy and Product Development.
Our webinar on Wednesday October 6th at 10:00 a.m. PT / 1:00 p.m. ET will offer a fascinating look at an innovative way to have serious fun doing serious business.
If there's one specific phase of the innovation lifecycle that will ensure failure if it's not done correctly, it is understanding market needs. Without that context, you might develop an innovative product yet not be commercially successful. And no one in this new innovation economy can afford a 'miss'.
As we continue our poll series to understand the priorities and challenges that product executives face, I wanted to share the results from the third poll. Like our first two polls, this poll was also focused on the ideation phase and the challenges faced. There were again over 200 responses representing a solid cross-section of product management, sales, marketing and development roles across all types of industries and geographies.
The question was: What is your biggest challenge in the capture and management of product ideas
Don't forget to join us tomorrow for a TaskTop® Accept360™ Mylyn Connector Sneak-Peek webinar featuring Wesley Coelho, Product Marketing Manager at TaskTop, and John Haniotis, Senior Vice President of Accept Corporation. They will talk about how the Accept360 Mylyn Connector will deliver a new level of visibility from within the developer's desktop. They will also share best practices on how to streamline development, improve project visibility and provide an integrated approach to product innovation across the entire innovation management process. Bust up silos of information that's slowing you down or wondering if you're building the right products! It's actually not that hard, dial in to find out how.
As Director of Finance for Accept Corporation, I’m happy to work for a company that innovates beyond the solutions it provides to customers. My name is Stephanie Banister, a certified Independent Fiduciary for pension plans, and I usually write with a calculator. A fiduciary is the decision maker and the ultimate responsible party of every aspect of a pension plan, and they add value by providing more retirement income for employees, making sure the Plan is in compliance under ERISA at all times, and ensuring mediation between a plan and the financial services industry. Recently, I was featured in Kiplingers Personal Finance in an article about 401(k) plans, specifically about the innovative way we were handling the plan for Accept’s employees.
As we continue our poll series to understand the priorities and challenges that product executives face (and yes, I am still obsessed with polling data as we draw closer to election season), I wanted to share the results from the second poll – like the first poll there were over 200 responses and represented a pretty solid cross-section of product management, marketing and development roles across all types of industries and geographies.
Here are the results: About 41 percent of total respondents, and 45 percent of large organizations, said less than 50 percent of product ideas come from customers, partners and suppliers.
Being responsible for Accept's Product Marketing function, I am continually trying to understand what product executives and brand owners are doing to bring those profitable products to market and what's keeping them up at night. A few weeks ago we kicked off a series of online polls to understand these priorities and challenges that product executives face. Since its mid-term political season and I'm currently obsessed with polling data, I wanted to share the results from the first poll - which are very insightful. It's worth noting that the poll had over 200 responses and represented a pretty solid cross-section of product management, marketing and development roles across all types of industries and geographies.
Here is the first poll question and the results:
An awesome topic, worthy of a webinar.
Just a reminder that tomorrow we host the final webinar in our Transparency series, featuring Tom Grant [@TomGrantForr], Sr. Research Analyst at Forrester Research.
There is a simple reason why we must change the way we innovate: Survival.
The Great Recession has spawned competition from some unexpected places. Countries that were never considered as sources of innovation are now uncovering new markets and creating solutions to real business problems. Technology is not only making the world flatter, it is making it smaller and more responsive.
Business downturns are happening more frequently and causing more disruption, including jobless recoveries. With this compression of the business cycle comes shorter product lifecycles and the imperative to make the entire product planning and development process more agile.
Finally, the silo approach to innovation that is so prevalent today is not conducive to making customer-oriented products. Companies need to make transparency and open communication their number one focus, both internally and externally.
Only when data are shared, decision criteria are understood, and finger pointing is eliminated can companies build products that customers truly need and build them quickly.