Data Mining and Innovation Science

A newly introduced product or service becomes an innovation after it has been proven in market. No one likes the fact that market failures of products and services are much more common than commercial successes. The ideas introduced in this paper are applicable to the evaluation of the innovativeness of planned introductions of design changes, products, and services. In fact, blends of products and services could be the most promising way of bringing innovations to the market. The most important toll gates of innovation are a generation of new ideas and their evaluation. People have limited ability to generate and evaluate a large number of potential innovation alternatives. The proposed approach provides a number of such alternatives and evaluates them from the market perspective.