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Innovation in a Requirement Life-Cycle Framework

In: Business and Management

Submitted By SniperYY
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Innovation in a Requirement Life-Cycle Framework

Abstract
In this paper, a requirements-based framework of innovation is discussed. Both customer and expert defined requirements are considered. The proposed framework treats requirements as evolving entities and is implemented using a data-driven approach. It provides a new perspective in support of the innovative product development process. Keywords: Innovation, requirements management, evolutionary computation, data mining.

1. Introduction
The volume of information entering a corporate decision-making landscape is increasing. Not too long ago, corporate business models were based on information asymmetry, neglecting the customer needs. Customers did not have the full information about the products available to them. With the creation of internet, the information revolution was bound to happen. Nowadays, a customer can literally search any product available in the global market. This search is usually based on variety of requirements ranging from functional to emotional. Companies can not neglect analysis of customer needs. Therefore, the ability to successfully translating customer requirements in the product development process is of paramount importance, if not the most important one. What is the best business model in today’s competitive market? This is the question that constantly haunts business leaders who are at the front-end of competition as well as the research communities who are continuously developing the successful business model. Innovation, to be more precise, the ability to innovate, is on the top of the list (Christensen 1997, Schumpeter 1934). The ultimate goal of innovation is to satisfy customers. It can be done by envisioning the customer requirements, offering new value, or creating a new demand. This characteristic also highlights the difference of invention to innovation, as the...

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