Oracle's Product Innovation Management

Accelerate and optimize product innovation.

Companies spend sizable sums on research and development but often don’t get a good return on their investment. An IDC study found that 66% of projects fail to meet expectations and a Business Week/BCG Survey found that 45% of companies are dissatisfied with their Return on Innovation Spending. The current product innovation process has a lot of room for improvement.

Now there’s a comprehensive way to tackle the challenges of product innovation. Oracle has delivered a best-in-class solution with an integrated approach to manage the end to end innovation lifecycle.

The Innovation Management solution enables companies to optimize the selection, development, market launch and in-market monitoring of new products. Because the system is integrated with Agile it allows for the leveraging of empirical data from previous projects and companies can even source specific parts and suppliers for future potential projects. Multiple people can collaborate on these ideas via workflows and add information based on their roles. Based on this data you can generate proposals that can provide financial justifications for projects and also provide different options based on cost and features.

Key Benefits:

• Incorporates best practices from industry in Product Innovation decision making
• Increases revenue and profitability via accelerated innovation and higher new product success rates
• Optimizes allocation of resources with fact-based comparisons across projects
• Increases accuracy across the product innovation lifecycle
• Built in Requirements functionality is constantly available and ensures that the feature set, feasibility and cost parameters are met
• Links innovation ideas with empirical, market and financial data for a more comprehensive analysis of product viability

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