Customer driven innovation pdf file

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In his highly publicized book, What Customers Want1, Strategyn CEO Anthony Ulwick argues that it is time to ―silence the voice of the customer‖ in favor of his firm's approach, which it has branded as Outcome-Driven Innovation®2. Increasingly, our clients, prospects, and other fellow Voice of the Customer (VOC) practitioners have asked our opinion of Strategyn's approach and how it customers are. In order to resolve this issue, firms need to develop customer-driven business models by integrating customers into their R&D and innovation processes (Thomke and von Hippel, 2002 The main aim of our study is to investigate customer-driven innovation in the modern era of software development. It also explores the motives, benefits, communication channels and barriers between customers and software companies to cooperate with each other. Methods. This paper defines and crystalizes "data-driven innovation" as a formal innovation process paradigm, dissects its value creation, and distinguishes it from data-driven optimization (DDO), A Data-Driven Approach to Customer Relationships: A Case Study of Nedbank's Data Practices in South Africa ^ SMR577. This is an MIT Sloan Management Review Article. South Africa's Nedbank is a leader in its market - but to stay in that position, it needed to identify new ways to serve its existing business