In essence, digital transformation means that companies are adjusting to the idea of using digital or digitally enhanced products and services as a source of revenue.
But which products will be accepted by the market? And what can each company actually implement? The answers to both these questions must be redefined in the digital world. All companies above a certain size possess a large data pool. Some of these companies already have a rough idea of how they propose to use this data to add digital value, while others even have specific products in mind. There are, however, also companies which are still looking for inspiration.
Our "product discovery" offerings are designed to support all companies, regardless of their maturity level, to discover the perfect product ideas. To do this, we use a comprehensive set of methods and models which combine inspiring and analytical activities. These inspiring methods include creativity techniques, design thinking, and Google's design sprint concept. Relevant analytical models include the data value chain, the value proposition canvas, and the data model analysis. This agile setup is bolstered by traditional product management disciplines like competitor analyses, benchmarking and business cases. We are thus in a position to work with our customers on systematically discovering the potential for new products and to evaluate that potential scientifically.
- Data value chain
- Value proposition canvas
- Value driver
- Business models
- Data model analysis
- Test data generation
Inspiration and support for defining data products:
- Combination of Google's design sprint concept and product discovery for data products
- Design thinking methods
- Lean startup
- Switch to data-driven company
- Forms of organisation
- Agile transformation
- inovex Lab (students)
- Blogs and other social channels
- Cooperation with colleges/universities
Would you like a consultation on this subject?
I look forward to hearing from you!
Dr. Christoph Tempich
Chief Data Economist
Data products for Germany's largest vehicle market
inovex has worked with mobile.de to develop two data products for evaluating market prices and generating customised vehicle recommendations.Download the presentation (in German)
Dr. Christoph Tempich I 24.04.2017
Data products: 5 success factors make the difference
Both in the USA and in Europe, there is talk of imposing stricter regulations on companies which consider data as the foundation of their business model. While there are obviously some firms which have a particularly thorough grasp of how to monetise their data, there are also a great many companies which are interested in doing so, but which have been less successful in their attempts. We have, therefore, examined the similarities in the business models of successful data-centric companies and determined five key factors for success.Read the blog article (in German)