The Innovation Equation
IBM conducted a very insightful study of 10 innovations which revealed an equation, so to speak, for innovation:
IBM shows this equation empirically through 10 examples. Here were two of the examples I thought were most compelling illustrations of this model of innovation:
Cemex:
Progressive Insurance:
Market Insight
+ Technological Know-How
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Innovation
IBM shows this equation empirically through 10 examples. Here were two of the examples I thought were most compelling illustrations of this model of innovation:
Cemex:
Expensive equipment sits idle while waiting for cement deliveries
+ Satellite tracking technology and advanced scheduling software
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Reduced the delivery window from 3 hours to 20 minutes
Progressive Insurance:
Good drivers want and expect cheaper rates
+ Satellite tracking technology & advanced risk calculating methods
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Aggressive pricing for good drivers while increasing profit
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