Now online: State-of-Innovation #5 with Frances Mitchell, director of innovation at Teleflex with a background in medical technology, product design and some practice in the music industry:
"Data driven or human centric – how to innovate?"
We talk about the difference in how start-ups (fast pace, risk taking) and how corporates (committed to impactful results) innovate in MedTech, and how to combine both in a smart way?
A quote of Frances that I want to share upfront is this one: "The human body and fundamental clinical problems don’t change a lot over time and are stable in our equation. But how to address good solutions for them is what we can affect."
What to expect from that episode:
How to build a pipeline for new product development
How to know that you know enough to take a decision on an innovation initiative
How to get a bigger picture when looking at platform solutions across different business units
A data-centric innovation approach focuses on using data and analytics to drive decision-making and develop new products or services. This approach relies heavily on collecting and analyzing quantitative data to identify priorities, patterns, and insights that can lead to innovative solutions. An innovation strategy shall always rely on facts and data to validate focus, and to reduce risk of failure.
On the other hand, a human-centric innovation approach is focused on understanding the needs, behaviors, and preferences of users or customers. This approach involves conducting research, engaging with users, to create products or services that are tailored to meet specific needs and desires of individuals. An innovator may want to understand all needs of a specific target group, to be sure not to miss a potential opportunity for value creation.
In summary, the main difference between a data-centric and human-centric innovation approach is the primary focus of the approach - data-driven insights versus user-centered design. Both approaches have their strengths and weaknesses, and the most successful innovation strategies often incorporate elements of both approaches.
According to Frances it is important to try to really understand what people needs are and then quantify/validate them.
#stateofinnovation #medtech #opportunitydiscovery #growthstrategy #customercentricity #outcomedriveninnovation
