Reacting fast and adapting to new circumstances quickly and efficiently is a crucial factor in business success.<\/p>\n
Time to market<\/a> (TTM) is a crucial metric for measuring your success in this area. Essentially, TTM describes how organizations understand market needs and how quickly they satisfy those needs.<\/p>\n If you want to improve your TTM and deliver value to your customers quicker and more efficiently, you need to adopt the Agile methodology<\/a>.<\/p>\n Here's why:<\/p>\n The Agile methodology is a repetitive approach to product development that makes it easier to release value into the market with every iteration.<\/p>\n That's because producing more iterations of a product provides you with more opportunities to gather feedback and verify if the direction your organization is going is still correct. In addition, it usually accelerates return on investment.<\/p>\n The Agile methodology comprises two pillars which make it an ideal tool for reducing TTM:<\/p>\n Technical agility helps minimize the time needed to release products by encouraging developers<\/a> to create more flexible solutions and architecture. (Also read: <\/strong>An Introduction to Application Software<\/strong><\/a>.)<\/strong><\/p>\n Business agility helps stakeholders act in uncertain and rapidly changing circumstances<\/a>, minimizing feedback loops.<\/p>\n In short, Agile acts as an assistant to reduce TTM: Its practices and principles provide an ideal conduit for achieving your goals in this area. This is why companies are still implementing Agile. In fact, according to the "15th Annual State Of Agile Report,"<\/a> almost all key reasons for adopting Agile in the enterprise are related to reducing TTM.<\/p>\n Customer satisfaction is essential for any business. To keep your customers happy, you should provide them with the products and services they want, fast — or at least faster than your competitors.<\/p>\n But markets, especially in the IT industry, are impacted and shaped by multiple forces in a constant state of flux. An astute and experienced expert can attempt to predict customers' needs; but in this sometimes uncertain landscape<\/a>, even the best of them may fail. That is why it is important to verify any hypothesis, incorporate user feedback and deliver your service as quickly as possible.<\/p>\n Scrum.org<\/a>'s "Evidence-Based Management Guide<\/a>" puts it this way: TTM is "the organization's ability to quickly deliver new capabilities, services, or products." However, this definition is somewhat staid and narrow; we might find it most appropriate for fast-moving consumer goods manufacturers. In the world of IT, we should think about TTM more flexibly. This is where the Agile methodology<\/a> comes in.<\/p>\n Success is all about your ability to deliver value quickly and efficiently. So if you want to succeed, you need to accelerate your TTM. (Also read: <\/strong>3 Tips for Developing an IT Marketing Strategy<\/strong><\/a>.)<\/strong><\/p>\n Begin by asking yourself the following questions:<\/p>\n Answering these questions in an informed way, with metrics, will enable you to define your TTM capabilities.<\/p>\n As the father of management thinking, Peter Drucker, once said, "You can't manage what you can't measure." Thus, here are some metrics that can help with TTM evaluation, as outlined in Scrum.org<\/a>'s "Evidence-Based Management Guide<\/a>":<\/p>\n The choice of exact TTM metrics depends on organization and workflow. To come up with needed metrics, we suggest starting with a visualization of your current delivery pipeline and thinking about TTM metrics relevant to each node and connector.<\/p>\n Unfortunately, there is no universal solution for reducing TTM. However, a common approach is to set goals and follow a "Plan, Do, Check, Act" (PDCA) cycl\u0435. Like the agile methodology, this method helps you iteratively find the right solution. Once you measure your current TTM, you can set goals for improvement and start the first loop of the PDCA cycle.<\/p>\n The PDCA cycle consists of 4 phases:<\/p>\nWhat is the Agile Methodology?<\/span><\/h2>\n
How the Agile Methodology Accelerates Time to Market<\/span><\/h2>\n
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Why Is Time to Market Important?<\/span><\/h2>\n
How Can I Measure Time to Market?<\/span><\/h2>\n
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Time to Market Metrics<\/h3>\n
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How Else Can I Reduce Time to Market?<\/span><\/h2>\n