A minimum viable product (MVP) is a proof point, a validation of capability, the catalyst for a much larger project, usually with just enough usable features to gather valuable client feedback before committing the necessary, and often scarce, financial and development resources.
Many of today’s most successful businesses started with a simple concept and the most basic of MVPs; Dropbox raised funding on the back of a 4-minute explainer video about how their platform would function, Amazon began as a simple website that only sold books, Facebook started as a Harvard student member site for rating how ‘hot’ their fellow students were, and Uber only worked on iPhones and could only be used if you lived in San Francisco.
“As you consider building your own minimum viable product, let this simple rule suffice: Remove any features, process, or effort that does not contribute directly to the learning you seek.” – Eric Ries – Author, The Lean Startup
MVPs come in many shapes and sizes and the reasons for creating them can also vary. For example, you are a new business that needs to create one to help you raise funding, you’re an established company with a client requirement to access your platforms on the go via an app, or your business just needs to keep pace with modern technology and you want to test options.
Ultimately it is a mechanism to generate precious feedback that can help improve the development process, help you to test market interest if your idea will gain interest and be a viable product/platform.
Get it right, and your MVP can even begin to generate revenue.
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Take our own experience here at Wolf Logic for example. Recently we have begun to receive an increasing number of requests for the development of geospatial solutions. The geographic information system (GIS) market is one of the fastest growing markets today, due to the benefits that are offered by using these types of data services.
Almost any industry can utlilise geospatial data in some form, whether it be for property, land, or utility surveying, risk management during natural disasters, crime mapping, real-time monitoring and managing of vehicles, locating and targeting customers, the list goes on.
Automation, accuracy, efficiency, and time saving are all massive hit points for any business, and these are the key benefits to utilising geospatial technology. The image of a surveyor sitting in a library straining his eyes staring at a dusty old microfiche should be a distant memory as those days are over, and the days of handheld technology, easily accessible data, and vastly improved accuracy are here to stay.
“The global geographic information systems (GIS) market size is expected to grow from USD 8.1 billion in 2020 to USD 14.5 billion by 2025 at a CAGR of 12.4% from 2020 to 2025.” – Markets and Markets – [Read Report]
Taking all these factors into account, particularly with geospatial being one of Wolf Logic’s specialist fields, it made sense for us to develop a platform to allow our clients to visualize and even benefit from the capabilities of GIS mapping.
So we set out our vision to create an advanced online survey and monitoring tool, and began the development of Geo Points.
Applying the processes we follow when delivering technology to our clients, we mapped out what the minimum viable platform should deliver. This resulted in GeoPoints offering developers a geospatial sandpit to play in, to bounce ideas around, and to visualize their own solutions.
And even though it is an MVP, we already have clients using the platform to offer services to their own customers. A perfect example of monetizing a basic idea for clients to visualize their geographical business data and quickly turning that code to cash.
“GIS is a form of digital mapping technology. Kind of like Google Earth, but better” – Arnold Schwarzenegger at the Government Technology Conference 2008
The world we live in is ever changing and fast moving. Technology is always improving and getting better, and there is no excuse to get left behind when the technology and platforms are there to assist you. Please do not hesitate to get in touch with Wolf Logic should you have any requirements or questions regarding how geospatial solutions can help your business or would like a demo of
Geo Points.
We’re pretty sure we’ll be able to explain it a little better than the former Governor of California.