Blog Coveo Insights

R&D’s Greatest Challenge: Insight to Innovate

Posted by Diane Berry on August 9, 2012

Amid the excitement and athleticism of the Olympics, we have uncovered another interesting display of global competition. And although it may not be as entertaining, the ramifications are more far-reaching. Specifically, the Global Innovation Index evaluates each country’s level of innovation over the past year, as judged by each country’s knowledge, technology and creative outputs. It was reported by the CEO of Eli Lily in a Forbes post about America’s declining ranking last month.

Regardless of which country is the most innovative, businesses all over the world are plagued by an “Insight Deficit” within their R&D departments. This is because engineers and developers generally don’t have access to the full breadth of information necessary to make informed decisions—product data, competitive insight, customer surveys and more. As a result, products take longer to get to market, production requires more re-dos, and competition may often seem one step ahead. Without easy assimilation of relevant and actionable insights, organizations aren’t as nimble or flexible as they could be. Read more and comment »

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New Study: The Keys to Innovation for R&D Organizations – Their Own, Unused Knowledge

Posted by Diane Berry on July 31, 2012

We recently polled R&D teams about how they use and share innovation across offices and departments, and the challenges they face in doing so.  Because R&D is a primary creator and consumer of knowledge, these organizations should be a model for how to utilize and share it. However, as we’ve seen in the demand for our intelligent indexing technology, and as revealed in the study, we found that R&D teams are more apt to duplicate work, lose knowledge and operate in siloed, “tribal” environments where information isn’t shared and experts can’t be found. This creates a huge opportunity for those who get it right—to out-innovate and out-perform their competition.

Specifically, engineers told us about their information challenges in our social media poll. The graphic below outlines the results. Read more and comment »

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Engineering Teams: Who’s in your Tribe?

Posted by Laurent Simoneau on July 17, 2012

Many organizations have invested significantly to create a “network effect,” where teams dispersed internationally are encouraged to use technologies to share, explore and innovate faster. As we’ve seen, additional tools don’t necessarily lead to additional collaboration and knowledge sharing. Often, the tools themselves become new silos of information, from which it is difficult if not impossible to extract relevant information.

Particularly in R&D departments comprised of highly educated, highly skilled specialists working in small groups, knowledge access and sharing can be a significant hurdle, and one that impacts innovation. Working in a very large engineering organization, with multiple departments working on multiple aspects of product design and engineering, chances are most engineers have an idea of what the five or six people around them have developed and what they know. Read more and comment »

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Let us know if this has ever happened to you – “I just wasted how much time?” or “What do you mean this already exists?”

Posted by Diane Berry on May 15, 2012

Let’s face it. The more data available to your company, the less you know what you think you know.

Sound strange? Just think about it, and perhaps consider your own experience. Let’s say you are an engineer or product developer for a mid-sized company. Say the company has been around for 30 years, creates complex products requiring QA testing and perhaps regulatory compliance. At the same time, the company has grown to 10,000 people with 3,000 engineers split among seven different offices in three countries. Read more and comment »

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Customer-Centricity and Information Availability – The Necessity of Innovation

Posted by Diane Berry on May 9, 2012

We’ve all heard the expression “necessity is the mother of invention.” In today’s day and age of digital engagement and the rapid pace of change in which we all live, this statement couldn’t be more true. Today’s consumers do not want to wait. There is a need for immediate satisfaction which means proprietors need to not only react to requests faster – they must have all of the necessary information to answers any number of requests at their fingertips, in an instant.

This information immediacy issue is playing out every day in many industries in multiple formats – whether it’s a customer on the phone with his or her mobile phone provider trying to straighten out a bill, a product engineer working to determine the next phase of a development cycle and needing to tap into a side project for research data, or a sales force leader determining an appropriate engagement strategy for his or her organization. The problem is, as common as these scenarios are, the access to all of the information necessary to make insightful decisions is not as prevalent as one may think. Read more and comment »

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