Rainbow Innovation Process
A structured, value adding approach to new products and services
Nielsen Innovation’s Rainbow Innovation Process is based on experience from hundreds of innovation projects in European, American and Asian companies. It helps your organization and project team to focus on what is essential and to optimize the decision process in all its stages. Executing core activities simultaneously, sharing experiences, building extra-organizational relations and progressing stage-by-stage are the keys to success !
PACE and EFFICIENCY
Set clear and ambitious goals! Make all functions involved in the company contribute from the very beginning and in every stage! Organize the information flow inside and outside the company ! Create the right attitude in each project stage: “fly high”, “share”, “play safe”, “find synergies”, “troubleshoot”… The more you can execute simultaneously, the sooner you hit the market and the higher is the efficiency of your innovation process !
INCREASE VALUE
Value is created in every stage and by every function in the innovation process. Focus constantly on how each function can contribute to reducing costs and investment, and increasing the perceived and real value for the customer is crucial for the ultimate success. Value is created by solving technical problems, creating appealing designs, identifying unsatisfied customer needs, protecting the findings by strong patents, identifying more eco-friendly solutions…
REDUCE RISKS
Innovation is a game. The long-term winners are those who manage their projects with constant focus on risk. It is easy to assess how much you are going to invest in a new venture, but assessing the gain (the net present value) of the total business is another story. Risk should be assessed for every function and at every stage throughout the project and totalized in a global risk profile.
