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Innovation Funnel

The Innovation Funnel is a structured process used by product managers and organizations to manage and refine ideas, transforming them from initial concepts into viable products or solutions. It involves stages of filtering and prioritizing ideas to ensure that only the most promising are developed further.

Why It Matters

- Helps in systematically evaluating ideas, ensuring resources are allocated to the most viable projects.
- Streamlines workflows by prioritizing innovative concepts, enhancing team dynamics through focused efforts on feasible solutions.

How It’s Used

-Helps in outlining a strategic plan by deciding which ideas to pursue based on potential impact and feasibility.
- Used to evaluate ongoing projects and ideas, ensuring alignment with business goals.
- Facilitates the incorporation of innovative ideas into AI models or product improvements.

Related Terms

1. Funnel Optimization
2. Product Ideation
3. Funnel Analysis

Additional Resources

- How to manage an innovation funnel? (part 1)
- Innovation Funnel Management System: The Secret Tool to ...
- What is an innovation funnel?