RETHINK DESIGN – Leading Design Innovation and Breakthroughs – 2020

Advances in design thinking, user interface, user experience, and overall quality provides unprecedented opportunities to create and launch products that inspire consumers and establish new markets. Each year, billions of dollars are spent on product development. According to Accenture research, product development spending grew in 2017 to exceed $700 billion among the 2,000 largest global public companies. This is a trajectory expected to continue on a upward course, as it is based upon +10-year CAGR of 4.8-percent.

With the substantial sums of money and resources being invested in product development, why do so many products fail? Success rates of new product introductions and innovations have improved little over the last twenty years. Design thinking, user interface, user experience, and market insight are among what may differentiate successes from failures. Product designers need to understand how consumers use products versus how designers think they are used. Streams of real-time data can be turned into actionable information to continuously improve the product development process. With the emphasis shifting from back-end to front-end development, design thinking is playing a central role in leading innovation at successful organizations.

New product success is vital to the growth and longevity of the modern corporation. It is also crucial for the survival of organizations in today’s digital age. There is little doubt that smarter decisions are necessary in the design and development process. The Rethink Design program explores the latest breakthroughs and trends in the overall process of innovation, design thinking, product and platform development by presenting intricate details for the lifecycle of products within the distinct phases of development cycles.