Innovation Idea-Value Matrix

The Innovation Idea-Value Matrix is a strategic tool used to evaluate and prioritize innovation ideas based on their potential value and feasibility. It helps businesses identify which ideas are worth pursuing and which ones should be reconsidered or discarded.

At a very high level, the Innovation Idea-Value Matrix is used in the context of business, strategy, innovation.

Innovation Idea-Value Matrix quadrant descriptions, including examples
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What is the Innovation Idea-Value Matrix?

A visual explanation is shown in the image above. The Innovation Idea-Value Matrix can be described as a matrix with the following quadrants:

  1. Low Value, High Feasibility: Ideas that are easy to implement but offer little value, e.g., minor UI tweaks.
  2. High Value, High Feasibility: Ideas that are both easy to implement and highly valuable, e.g., a new feature that meets a major customer need.
  3. Low Value, Low Feasibility: Ideas that are difficult to implement and offer little value, e.g., outdated technology improvements.
  4. High Value, Low Feasibility: Ideas that are valuable but difficult to implement, e.g., a groundbreaking new product requiring significant R&D.

What is the purpose of the Innovation Idea-Value Matrix?

The Innovation Idea-Value Matrix is a 2x2 grid that aids businesses in evaluating their innovation ideas by plotting them based on two key dimensions: value and feasibility. The horizontal axis represents the value or impact of the idea, ranging from low to high. The vertical axis represents the feasibility or ease of implementation, also ranging from low to high.

By categorizing ideas into four quadrants, businesses can make informed decisions about where to allocate resources and which ideas to prioritize. This matrix is particularly useful in brainstorming sessions, strategic planning, and innovation management.

Use Case: Imagine a tech company brainstorming new product features. They generate a list of ideas and then use the Innovation Idea-Value Matrix to plot each idea. Ideas that fall into the top-right quadrant (high value, high feasibility) are prioritized for immediate development. Ideas in the bottom-left quadrant (low value, low feasibility) are discarded or put on hold. This structured approach ensures that the company focuses on the most promising innovations.

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What templates are related to Innovation Idea-Value Matrix?

The following templates can also be categorized as business, strategy, innovation and are therefore related to Innovation Idea-Value Matrix: Product-Market Matrix, 4 Ps Marketing Mix Matrix, AI Capability-Value Proposition Alignment Matrix, AI Innovation-Value Alignment Matrix, AI Maturity Matrix, AI-Value Proposition Alignment Matrix, AI-Value Proposition Matrix, AIDA Marketing Matrix. You can browse them using the menu above.

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