Oracle rolls out ‘Innovation Management’ solution

  • Claims will help organisations make faster and better product investment decisions
  • ‘Product innovation is too critical to be left to spreadsheets and PowerPoints,’ says exec

Oracle rolls out ‘Innovation Management’ solutionORACLE Corporation has unveiled its Oracle Innovation Management solution that it claimed would help organisations increase their return on innovation investments.
 
The new release is a systematic approach to capture, select and invest in the right product ideas and to manage the organisation’s overall product portfolio, Oracle said in a statement.
  
“Product innovation is too critical to be left to spreadsheets and PowerPoints, and to remain disconnected from the rest of the product value chain,” said Jon Chorley (pic), vice president of Supply Chain Management Product Strategy at Oracle.
 
Oracle Innovation Management allows bottom-up innovation so all stakeholders may participate in the product invention and definition processes, with simultaneous top-down financial impact analysis and strategic fit visibility to the key portfolio owners during and post investment decision, the company said.
  
With Oracle Innovation Management, organisations can make more informed decisions by easily creating, refining and evaluating product concepts for cost, risk and against customer requirements and design goals, Oracle claimed.
 
It enables organisations:

  • To build an innovation pipeline that is fuelled by a steady stream of high-value ideas that can be translated into profitable offerings;
  • Analyse the impact of alternate investment scenarios against business objectives;
  • Develop product requirements that translate ideas into concepts and products; and
  • Increase productivity and reduce product development costs.

“By providing a highly usable, but systematic approach to managing product innovation, Oracle Innovation Management can accelerate the transformation of the best ideas into profitable products, and deliver against the corporate product innovation strategy,” said Chorley.
 
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