strategy+business Winter 2013 : Page 35

INTERACTIVE: Exhibit 1: The Digital Tool Landscape At the development phase, our survey results show that productivity tools have reached maturity—most are widely used and effective. In other phases, particularly the front end of the innovation process, companies are experimenting with new marketing and customer insight tools that have transformative potential. For an interactive version of this graphic, go to strategy-business.com/multimedia-innovation-tools. KEY TYPE OF TOOL Market and Customer Insight Enabler Productivity Enabler Percentage of CIRCLE SIZE = respondents using each tool SCALE 70% 15% Most Effective Tools Rapid prototyping (including 3D printing) Simulation tools Emerging, high-potential way to simulate user experiences Big data tools Visual simulation Customer profiling Automated product usage tools Monitoring tools Digital focus groups E-commerce tracking Vision narratives Crowdsourcing Codesign tools Enhanced product life-cycle management systems Nascent tool Customer immersion labs Exhibit 2: Digital Enablers and Financial Performance Respondents who made significant use of digital enablers 77 percent provides were data on more likely to report that they financially outperform competititors than customer use patterns those making only low or moderate use of them. Project management Application development Collaborative environments Usage sensors Interaction simulation Computer-aided design 53% Visualization and engagement tools Automated marketing platforms Enterprise resource planning Community engagement platforms Customer relationship management Significant Use Automated feedback systems of Digital Enablers Product sales simulation tools Social media dashboards Social voting Idea capture tools Percentage saying they outperform Applications that competitors combine data Mash-up tools 30% feature innovation aren’t widely used Low or Moderate Use of Digital Enablers Customer sentiment analysis Discussion platforms Often used to research the market, with limited effectiveness Source: Bloomberg data, Capital IQ, Booz & Company Patent scanning Least Effective Tools Customer Insight Source: Booz & Company analysis Ideation Development Launch process, when gathering feedback and insights from consumers and customers can lead to better decisions that will reverberate throughout the life cycle of product development. When it comes to these new tools, we of-ten fi nd that fewer companies are using them (especially as compared to the more established productivity tools). But these lower usage rates refl ect the fact that many of these tools are still untested, and many companies are just dipping their toe in the water. Customer immersion labs, for example, are used by only 14 percent of companies, but those few already fi nd them highly effective. These labs enable companies to gather reactions and data on new product designs directly from individuals using them by providing a digital, simulated experience. At construction and min-ing equipment manufacturer Caterpillar, they have be-come an integral part of the early stages of research and (continued on page 38) Exhibit 2: Digital Enablers and Financial Performance Respondents who made significant use of digital enablers were 77 percent more likely to report that they financially outperform competititors than those making only low or moderate use of them. 53% 35 +77% PERCENTAGE SAYING THEY OUTPERFORM COMPETITORS 30% Low or Moderate Use of Digital Enablers Source: Bloomberg data, Capital IQ, Booz & Company Significant Use of Digital Enablers

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