We estimate that globally around 20 million designers, engineers, and product leaders are focused on making physical products. Their objective, broadly, is to make better products, faster. Research suggests, however, that designers and engineers waste up to one day per week searching for data that is found only 50% of the time. This results in poorer decisions that take more time to make. And when teams innovate, 30% of R&D spend duplicates research and work previously performed. Even if we allow for a large error margin, those numbers still suggest a lot of room for improvement for product development to be more efficient and more effective. Studies blame product information that is not connected, not shared, sits in siloed applications and does not support collaboration.*
Information silos are to blame
Product development team’s success depends on managing their product’s entire performance. Not only its core utility but also its costs, compliance, environmental or social impacts. To do this well, there is a rising number of data points to organize, analyze and report. The data required is highly fragmented. Impacts are difficult to model. The making of physical goods has hardly gone “social” yet. There is no GitHub for product makers. As a result, speed and innovation go down. Risk, waste, and cost go up.
Connected data is the future of product development
We believe that with a different approach to data, technology, and collaboration, product development teams can make and sell better products, faster. To do so, we set out to create the world’s leading model for every product, process and resource, and their respective impacts. Using modern technology, we enable transparent discovery and collaboration around every product dimension in a single view. We call it Dynamic Data Integration© (DDI). This approach dramatically improves insights for teams in industries that produce physical goods.
Make and sell better products, faster
With Dynamic Data Integration© product development teams can easily retrieve the relationships between companies, products, processes, and consumed resources. Makersite Mattermaps© visualize impacts on costs, health, and environment, or even risks that may arise. This allows teams not only to uncover what is but modelling what could be. The Makersite cloud makes this possible on a single platform and in real-time. The promise of better products, better business, and a better future is compelling. With the right data and technologies, industry teams can make and sell better products, faster.
IDC, “The Knowledge Quotient: Unlocking the Hidden Value of Information Using Search and Content Analytics“, 2014; “Cost Analysis of Knowledge Worker Document-Related Activities by Function“, March 2016
European Patent Office, “Why researchers should care about patents”, 2007
McKinsey Quarterly 2014 Number 1 “Shaping the future of manufacturing”
McKinsey Institute “The social economy: Unlocking value and productivity through social technologies” 2012
Verdantix “Smart Innovators: Product Stewardship Solutions“, 2015
“The U.S. Science and Engineering Workforce: Recent, Current, and Projected Employment, Wages, and Unemployment” John F. Sargent, Jr. Specialist in Science and Technology Policy February 19, 2014.