Building a robust business case with rapid prototyping

Forecasting for innovative products in emerging new markets or categories can be daunting. There is no historical data to confidently extrapolate into the future, just a lot of uncertainty about whether the latent demand that the initial market analysis indicated is real or not. Convincing the board and the CFO that this is the product that is going to become the next cash cow could leave you straddling behind the competition. Adopting some forecasting best practices using rapid prototyping could provide you with the data you need to win the business case.

Rapid prototyping helps businesses to reach the market quicker, understand which consumers will purchase a product in the first version and who will want to wait for subsequent versions when bugs are fixed and prices are generally lower, and base the financial forecast on the outputs that users need quickly. #rapidprototyping #businessanalytics #businesscasedevelopment