The End of Product Failure: Technologies That Will Remove the Risk from Product Innovation | Chris Murray

What are the odds a new product will still be around in two years? Depending on the source, between 25-95 percent of consumer goods eventually fail in the market.

Nearly every product failure can be traced to a decision based on either lack of user need, failure to satisfy the user need or overestimating the extent of the user need. Chris Murray asks: imagine the impact on product innovation if we knew our mistake before committing ourselves. He says properly applied, technologies such as the Internet of Things, facial expression recognition software and rapid prototyping could mean the end of product failure.