McKinsey’s report ‘The business value of design’ makes an empirical case for why design makes commercial sense for big businesses.
The McKinsey Design Index (MDI) draws on qualitative and quantitative research from across industry verticals. Although it uses some self-reported data, it seems to make a strong case for a link between business commitment to design and financial performance.
In essence, the report suggests that design-led companies enjoy a third more revenue and over 50% higher total shareholder returns compared with other companies failing to invest in design.
It’s a valuable contribution to the debate about the value of design. For many design practitioners (including Foolproof) it has long been an article of faith that iterative, customer-centred design pointed at measurable outcomes is the key to winning in digital. We can all point to cases and stories which show the dramatic business effect of great design, but to have a comprehensive body of data adds new weight to old arguments. Thanks McKinsey.
The long and the short of it
If your organisation thinks, leads and delivers through design, using modern methods and to measured outcomes, you will perform better financially. Period.