From the highest paid person’s opinion to financial projections and scoring models, these are just some of the most common approaches used by executives when making innovation investment allocation or project prioritization decisions. But as you move beyond your core business to evaluate new sources of growth, the traditional financial approaches become increasingly less reliable. Why? Because projecting an ROI in the early stages of a new-growth innovation is guesswork at best. This is where customer evidence needs to take center stage as an input to portfolio decision-making.
In our whitepaper Evidence-Based Innovation Portfolio Management we share our insights into how leading companies incorporate customer evidence into project portfolio decision-making. For instance, when presented with customer evidence, portfolio decision makers can make fact-based, high confidence investment allocation decisions, accelerating those projects that show promise, cancelling those that do not, and rebalancing priorities.
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