As you increase your use of predictive data analytics, you might discover ways to lower costs for your customers while increasing revenue for your business. Perhaps your customers would be better served if the product were offered to them in a different way: perhaps as a service (PaaS/SaaS) or as a subscription offering rather than complete licensed ownership.
Outcome Based Design optimizes product offerings based on predictive data analytics. With Outcome Based Design, markets are segmented to offer targeted Internet of Things (IoT) connected products that are focused on the specific outcome that the customer segment requires. These outcomes are achieved by making particular design decisions and outlining customer success metrics.
Outcome Based Design:
- Increases revenue by identifying market opportunities faster
- Gains market share with better product appeal and market alignment
- Improves profitability in the implementation of new business models