Innovation Engineering, Eureka!'s primary offering, is the first and only innovation system to be grounded in factual “total system” data gathered during live projects and subjected to statistical analysis. The body of knowledge and its corresponding curriculum brings academic discipline and rigor to the innovation process.
What makes the data particularly valuable is that it comes from real companies working on real innovations. And, the data is never ending. Unlike most academic fields of study that have extremely long feedback loops, the Innovation Engineering network of participating companies and Innovation Engineering Black Belt coaches provides real time feedback and additional data on the results of “Fail FAST, Fail CHEAP” experiments.
Most importantly, the research is ongoing at the speed of industry. Open innovation collaborations, licensing, purchasing or partnering on development tools is the norm not the exception. Because the Eureka! Ranch is among the oldest high-end innovation firms under the same ownership and leadership - the company leaders have a good level of trust among the professional innovation community. This means the movement has been able to efficiently partner with the true innovation thought leaders like Dr. Van Gundy, Hermann International, Tony Buzan and AC Nielsen BASES. As a further example, organizations where the Ranch founder has lectured include: MIT Leadership Program, Harvard Business School, Darden School, University of Chicago, The UK Marketing Society and the University of Oregon.
The team embraces an “engineering mindset” with all research. Specifically, we focus on measuring and problem solving “real world” challenges. That’s not to say we don’t continuously mine academic journals. However, our priority is on discovery of better methods. By choice we “do as we teach” and focus more attention on filing patents on Innovation Engineering discoveries than on academic publishing.
Over a period of 20 years, with the help of 3 PhD’s and 3 statisticians, the team has analyzed concept testing and or sales forecasting data on over 26,000 innovations. This data has enabled never ending cycles of learning
Content Analysis to identify statistical differences of winners versus losers followed by
Education programs to increase “odds of success” followed by
New concepts developed and tested to confirm or disconfirm the guiding principles.
Finally, the entire process is repeated and repeated endlessly. As a result of the learning - today it is possible to reliably generate ideas with a 50%+ odds of sustained marketplace success. Note: this compares with the reported 5% to 29% odds of success seen with innovations from multi-national companies.
Even more important than the data on what drives winners and losers - is the total system data on thousands of people and cultures. Because this data includes detailed information on the individuals, the teams, the projects over time - it provides a unique opportunity to identify methods for creating a culture of never ending innovation with increased speed and decreased risk.