In January 2012, Affinnova launched Affinnova Concept Studio, a subscription-based web application that enables users to create and share concepts, engaging in the divergent collaboration that unlocks breakthrough innovation. Users collaborate to create an innovation space, an exhaustive universe of thousands or millions of potential concepts.
With the most recent results, Affinnova has a five-year Compound Annual Growth Rate in excess of 40%. "Repeat customers are the key to our consistent growth," said Waleed Al-Atraqchi, President and Chief Executive Officer of Affinnova. "We're happy to reward their loyalty with Concept Studio, which offers faster turnaround time and institutional pricing. By deploying our optimization technology as Software-as-a-Service, we are rapidly scaling at the enterprise level."
The Affinnova IDDEA concept optimization platform evaluates ideas and designs in a survival-of-the-fittest process that identifies those with the highest market potential. Its evolutionary search algorithm uses consumer choice to quickly find the top concepts for new products, new advertising and new designs. In a recent study, optimized products benchmarked by Affinnova were twice as likely to launch, twice as likely to be successful in market and earned almost triple the revenues in the product's first two years in market as unoptimized U.S. CPG products.
Affinnova is a high-growth software and services firm that enables innovative companies to drive better ideas to market faster. Unlike conventional market research, our patented survival-of-the-fittest approach has the capacity to explore extremely large idea spaces by applying evolutionary search algorithms to product and marketing innovation. Global Fortune 500 companies, including Procter & Gamble, Unilever, Nestle, PepsiCo, Pfizer, Johnson & Johnson, Walmart and Citibank, depend on Affinnova to deliver accelerated launch timing and higher success rates. For more information, please visit www.affinnova.com .
SOURCE: Affinnova, Inc.
MoreInk PR Martha Popoloski, +1 781-405-8328 firstname.lastname@example.org
Copyright Business Wire 2012