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Real Time Field Diagnostics Tool reduce return material authorization for remote field users There are currently no reviews for this Innovation.
| Real Time Field Diagnostics Tool
reduce return material authorization for remote field users |
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New on-line software and hardware diagnostic repair tool for remote and rugged systems |
 Annual Sales Forecast for USA * | Innovation Status |
Idea |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
Development
Status |
Proprietary
Protection Status |
Concept
Score |
| Ultra Low |
$0 |
$35,000 |
$170,000 |
1 of 5
In Development
|
0 of 5
No known protection
|
50 29 is
Average
|
| Low Support |
$450,000 |
$920,000 |
$1.7 M |
| Medium Support |
$3.7 M |
$6.1 M |
$9.4 M |
| High Support |
$10.5 M |
$16.7 M |
$25.0 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$19.6 M |
$31.2 M |
$46.7 M |
6 mos-1 yr
|
$10k-$100k
|
Real Time Field Diagnostics Tool
- reduce return material authorization for remote field users
Final Decision Maker: Systems engineering managers
Octagon Systems introduces the first of its kind "Real Time Field Diagnostics Tool" within all of their rugged mobile computers. This tool will help qualified service technicians eliminate the guess work from diagnosing problems in their system and will virtually eliminate product returns bringing the unit back to full operation sooner. Our customers will save 70% in return material costs and reduce their downtime from weeks to days. Recently a customer in Australia reduced their downtime from 8 weeks to just 4 days by utilizing the diagnostic tool at their own work site. In ruggedized environments, mobile computer systems will occasionally fail setting off the costly chain of events associated with returns and repairs. International returns can sometimes cause additional time delays that negatively affect your operation. Our new "Real Time Field Diagnostic Tool" will eliminate all of those costs and delays by accurately defining the defect within the system, in your shop, so that your own qualified operators, at your schedule, can complete the repair.
| $200 for diagnostic hardware | Seeking: Purchase |
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* Consumption sales forecast. Does not include "Random" events or "Inventory Fill". Forecast is for Year 1 for Large or Year 2 for Small Companies.
Forecast should be read as ..."With Low marketing support there is an 80% odds of achieving sales of at least... |
| Listing #: USA.76.092209.003 |
Page 1 of 5 |
Date Posted: 2009-09-22 |
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| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Report Assumptions and Inventor(s) Commentary
|
|
| Inventor(s) Assumptions |
"Most Likely"
Estimate |
Confidence |
Inventor(s) Commentary
Data Source or Basis for Assumptions |
| # of Possible Final Decision Makers |
3,900 |
60% |
Decision makers at mining, freight, military transportation systems and municipalities with transit systems
|
| Revenue per First Purchase |
$100,000.00 |
60% |
Have established this is an effective price point and quantity purchase for existing customers. The typical customer will purchase around 500 systems initially at $200 per system. |
| % that will Repeat |
N/A |
N/A |
|
| Number of Annual Repeats |
N/A |
N/A |
|
| Revenue per Repeat Purchase |
N/A |
N/A |
|
| Reseller (Trade) Margin |
N/A |
N/A |
|
| Producer Profit (EBITD) |
10% |
60% |
This product will appeal to our larger system customers which provide company with higher profit margins and higher quantity purchases |
| |
| Innovation Status |
|
Development
Status |
1 of 5
In Development
|
Technology exists just need to test and prove product and make sure we can make a profit |
| Cost to First Sale (remaining) |
$10k-$100k |
60% |
We have to make prototype, create a BOM, conduct a manufacturing impact study and test product on a few strategic customers. |
| Time to First Sale (remaining) |
6 mos-1 yr |
60% |
Based on past experience, company resources and complexity of product, we will have no problem taking this to market before Q3 in 2010 |
| Confidence in Concept Claims made in description |
60% |
Based on actual data with several customers |
Proprietary
Protection Status |
0 of 5
No known protection
|
nothing completed |
| Concept Score & Diagnostics |
|
|
| Concept Diagnostics |
Red |
Yellow |
Green |
| Percentile Group |
Bottom 40% |
Middle 40% |
Top 20% |
| Overt Benefit |
|
 |
|
| Reason to Believe |
 |
|
|
| Dramatic Difference |
|
|
 |
|
| Listing #: USA.76.092209.003 |
Page 2 of 5 |
Date Posted: 2009-09-22 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Inventor Commentary & Alternative Development Scenarios
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|
| Inventor(s) Sales Goals |
| Minimum Goal |
$100,000 |
Current GOAL |
$0.3 M |
Inventor(s) Commentary:
After sales service is one of the biggest pains and problems for the customer and this product solution reinforces the warranty and total value of the sale. This offering provides peace of mind to the end customer. |
|
CURRENT SALES FORECAST |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$35,000 |
$170,000 |
| Low Support |
$450,000 |
$920,000 |
$1.7 M |
| Medium Support |
$3.7 M |
$6.1 M |
$9.4 M |
| High Support |
$10.5 M |
$16.7 M |
$25.0 M |
| Ultra High |
$19.6 M |
$31.2 M |
$46.7 M |
If MARKETING CONCEPT Improved (Increase Concept Score by +20 Points) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$50,000 |
$240,000 |
| Low Support |
$640,000 |
$1.3 M |
$2.3 M |
| Medium Support |
$5.3 M |
$8.6 M |
$13.1 M |
| High Support |
$15.1 M |
$23.6 M |
$34.8 M |
| Ultra High |
$27.9 M |
$43.9 M |
$64.7 M |
If MARKETING CONCEPT and PRODUCT/SERVICE Improved (Increase Concept +20 Points, Repeat Rate & Number of repeats by 30% and Revenue per purchase 20%) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$51,000 |
$240,000 |
| Low Support |
$650,000 |
$1.3 M |
$2.3 M |
| Medium Support |
$5.3 M |
$8.7 M |
$13.2 M |
| High Support |
$15.1 M |
$23.7 M |
$34.9 M |
| Ultra High |
$28.0 M |
$43.9 M |
$64.6 M |
|
| Listing #: USA.76.092209.003 |
Page 3 of 5 |
Date Posted: 2009-09-22 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Additional Details
|
|
| Fair Market Royalty (%) |
| |
Conservative - 80% Odds
Royalty Percentage |
Most Likely - 50% Odds
Royalty Percentage |
Aggressive - 20% Odds
Royalty Percentage |
| At CURRENT State & Status |
0.4% |
0.8% |
1.5% |
Sales & Marketing
Support Level |
Annual Inventor Royalty Revenue |
3 Year Value
to Inventor
If 50% Odds |
| 80% Odds |
50% Odds |
20% Odds |
| Ultra Low Support |
$160 |
$510 |
$1,100 |
$1,500 |
| Low Support |
$2,800 |
$7,100 |
$14,000 |
$21,000 |
| Medium Support |
$21,000 |
$47,000 |
$82,000 |
$140,000 |
| High Support |
$58,000 |
$130,000 |
$220,000 |
$390,000 |
| Ultra High Support |
$110,000 |
$240,000 |
$420,000 |
$720,000 |
| Sales & Marketing Support Level Assumptions |
| Sales & Marketing Support Level Assumptions |
Sample Numbers |
% Aware x
% Distribution
(Aware & Able) |
Inventor
Confidence |
| % Distribution |
% Awareness |
| Ultra Low Support (Word of Mouth) |
5% |
3% |
0.2% |
% |
| Low Support (Small Company) |
20% |
10% |
2% |
N/A |
| Medium Support (Medium Sized Company) |
50% |
25% |
13% |
N/A |
| High Support (Large Company) |
75% |
45% |
34% |
N/A |
| Ultra High Support (Mega or Niche) |
90% |
70% |
63% |
N/A |
|
Graph of EQUIVALENT (Awareness x Distribution) Combinations
 |
NAICS Industry Codes
For This Invention |
| 21211 - Coal Mining |
| 48412 - General Freight Trucking, Long-Distance |
| 48511 - Urban Transit Systems |
| 48521 - Interurban and Rural Bus Transportation |
| 92811 - National Security |
|
| Patent Numbers that apply to this Product/Service |
| |
| |
| |
| |
| |
|
| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
65 |
| GRANTED Patents |
0 |
| Licensing Deals SIGNED |
0 |
| Innovations that have SHIPPED |
0 |
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For USA Patents: Utility Patent = 7 digit number, Design Patent starts with D, Planet Patent starts with PP. Provisional Application "61/xxx,xxx", Non provisional application "12/xxx,xxx", Design patent application "29/xxx,xxx"
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CAUTION: This Merwyn Business Simulation Research Report includes no warranty or guarantee. Results and opinions should be considered rough and directional in nature. This is because the report is based upon inventor-supplied data and simplified modeling methods. If you are looking to invest, distribute, purchase or become involved with this innovation, in any way, we strongly urge you to validate the inventor data and sales forecasts BEFORE committing yourself or your resources. Merwyn Research, Inc. shall not be responsible for any liability or damages arising out of the failure to perform such investigation and validation. Changes in the concept description, product, pricing, or input assumptions will almost certainly change results.
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| Listing #: USA.76.092209.003 |
Page 4 of 5 |
Date Posted: 2009-09-22 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Additional Forecasts for Other Countries
|
|
 Annual Sales - Probability Forecast - Canada |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$5,600 |
$27,000 |
| Low Support |
$71,000 |
$150,000 |
$260,000 |
| Medium Support |
$580,000 |
$960,000 |
$1.5 M |
| High Support |
$1.7 M |
$2.7 M |
$4.0 M |
| Ultra High |
$3.1 M |
$4.9 M |
$7.4 M |
 Annual Sales - Probability Forecast - United Kingdom |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$9,900 |
$49,000 |
| Low Support |
$130,000 |
$260,000 |
$470,000 |
| Medium Support |
$1.0 M |
$1.7 M |
$2.7 M |
| High Support |
$3.0 M |
$4.7 M |
$7.0 M |
| Ultra High |
$5.5 M |
$8.8 M |
$13.1 M |
Forecast are calculated based on population, (PPP) purchasing power parity, International Trade, Urbanization and the Human Growth Index.
Forecast can be skewed for some industries, so for best results, adjusting the number of final decision makers for every country is recommended.
| Listing #: USA.76.092209.003 |
Page 5 of 5 |
Date Posted: 2009-09-22 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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