This framework illustrates an approach for customer-focused innovation.
- The top portion of the triangle represents new innovation. This can be new products, services, markets, or processes that a company is seeking to develop. Customer and market insights are used to indentify unmet needs. Throughout the innovation process, customer collaboration is used to guide the process from ideation to creation.
- The center is the core competencies of the organization. Companies use customer survey research and other customer focused insights to guide innovation in this area. They continually make investments to the core and use customer analytics and insights to prioritize these investments.
- On the bottom are products and services that are going away. While companies spend little effort in this area as they strive to maximize profits, they will use customer analytics to monitor performance to ensure customer expectations are met.
- The drip represents waste in the organization. These are the products and services that companies need to discard or stop doing. Customer insights are used to identify waste.