Business Intelligence Risk Management SW for Product Developers
The Business Fit Framework® is a business intelligence risk management software tool for product developers. It works by enabling product teams to identify, evaluate and prioritize the most significant sources of uncertainty and risk associated with a product idea. It employs a variety of behavioral economics approaches to root out uncertainties and risks, including a risk framework, reference class forecasting, and nudges. In addition, the Business Fit Framework monitors the reduction of product uncertainty and risk throughout the entire product development process, from idea through launch. Risk profile ‘snapshots’ easily communicate progress in reducing a product’s risk and allow risk evaluation of the entire product portfolio.
CoFounders, Mary and Kathy implemented early generations of the Business Fit Framework with several clients, each time improving and fine-tuning the tool. Early iterations showed the value of the tool, as well as, the need to make it an easy to use software tool with additional functionality. They prototyped several approaches.
The Business Fit Framework was then a recipient of an NSF STEM I-Corp grant, and it enabled an expanded reach into the product development community to study commercial feasibility. Through interviews with more than 100 product development professionals, the grant-funded research facilitated the identification of existing product development solutions and minimum viable product (MVP) input that was instrumental in informing the design and development of the Business Fit Framework.
Most recently, the Business Fit Framework was nominated for 2 awards in 2019: Edison Award in the area of Innovation Services and Fast Company World Changing Ideas Award.
The Business Fit Framework is a secure, web-based tool hosted in data centers located and operated in the United States. The software platform is audited and certified regularly, including ISO 27001/27017/27018, SOC 1/2/3 and DOD IL 2/4. Our software is developed in Madison, WI.