An often heard question in my daily work is: “why should we invest in design (thinking)?”
Apart from the qualitative, immaterial benefits (such as an improved brand, higher customer satisfaction, or improved employee happiness) the quantified, material benefits are often hard to point out. What is the actual monetary value design brings? How much more turnover will make? What will design do for our productivity, our development time, etc.?
Well, I’m happy to say that Forrester made a fantastic report summarizing its key findings by analyzing IBM’s Design Thinking practice. Read the Medium post here and find the actual report here: download link (opens PDF).
Some interesting quotes:
“More than 80% of business leaders surveyed reported their teams were more aligned and focused, and 37% cited higher employee productivity through design thinking. Ultimately, businesses are finding this increased alignment leads to lower risk of project failure.”
“Forrester has determined that teams that are applying IBM’s design thinking practice and are adequately staffed with design talent are getting to market twice as fast as without. These teams are also seeing up to a 75% reduction in design and development time.”
“This more efficient workflow is resulting in a calculated ROI of more than 300% and a Net Present Value over an average three-year project of more than $36 million.”