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An entrepreneur’s take on the nuances and stages of new product development that will help you transform your ideas into successful products.
Developing a new product can be challenging, but with the right approach, it can be a successful endeavor. There are certain stages and nuances that entrepreneurs need to be aware of during this process. By taking these into account, you can bring your product idea to life.
In this blog, you will gain valuable insights about New Product Development including the stages of developing a new product, its benefits, best practices, and how you can successfully bring a new product to the market.
What is New Product Development?
New product development is the process of transforming an innovative new idea into a product that solves the underserved needs (or problems) of its target audience.
Let’s understand this with the help of an example. I was remodeling our office in 2020 and I was sick of those rolled-up sheets sent by our architect which needed four objects to hold them in place. I also needed to brainstorm with my co-CEO about the design and found that it would take twice as long to do everything as it would on a digital platform. Looking for a tech solution for this problem led me to the Hachi Infinite M1 Projector–a tool that every designer and architect must have! It is a portable projector that transforms my table into a huge touchscreen! It took me 15 minutes to brainstorm, annotate and send the design back to the architect instead of the usual five hours!
This innovative tech product helped me to save time, and energy and focus on the design bit instead of figuring out how to give my input to the architect without taking photos or having to visit him.
What is Product Development?
Product development relies on a validated PoC or a Proof of Concept and essentially creates a finalized version of the PoC. This product has already gone through the ideation and validation phase, and in the case of software, relies on standardized development processes to create a final product.
How is Product Development Different from New Product Development?
NPD is an activity where the feasibility of an idea has not established its potential adoption by customers. New Product Development or NPD is a set of iterative activities that create an innovative, new product:
- Ideation of a new product from the ground up
- Designing every aspect of this new product
- Validating it with key stakeholders and the target group
- Development of the MVP (or final product)
- Marketing the product
- Launching the product
Traditional Product Development or PD is the process of developing a product that already has a PoC. This process involves the following activities:
- Planning
- Designing
- Testing
- Development
- Deployment
- Maintenance
There is no room for iterative development here as the development teams only focus on creating validated products or recreating existing versions of them.
Why do Companies Require New Product Development?
There are two ways to launch a product in the market—the first is to find an existing product, figure out the pain points of its users and release a product that fixes them. The other is to use a radical new approach that meets the underserved needs of your potential customers—just like AirPods during a marathon.
New Product Development helps entrepreneurs to create innovative solutions for a problem. This helps bring an original product idea to the market and encourages innovation in their industry vertical.
Creating an Effective New Product Development Strategy
Most first-time entrepreneurs end up wasting time, money, and resources on ideas that might not make business sense or might not be what their customers need. Using an effective new product development strategy will help you to:
- Launch a well-designed and well-engineered product that meets your customers’ needs
- Price your product effectively and competitively
- Reduce your development costs and use resources efficiently
- Reduce the risk involved in new product development
In short, using a new product strategy will help you create a better product that your customers need (and will love).
Various Stages of New Product Development
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Idea Generation
Also known as ideation, idea generation helps you change your existing product approach or envision an entirely new product. You can use creative thinking and brainstorming models such as SCAMPER (substitute, combine, adjust, modify, put to other uses, eliminate and reverse), 5 Whys, TRIZ, or Mind Mapping to identify if your idea makes sense. Additionally, this approach will help you shortlist the best ideas you have from the bunch.
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Idea Evaluation
Idea evaluation helps you shortlist the one product idea with the highest chances of success. You can use techniques such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to figure out if your idea is worth it and makes sense for its target audience and your business.
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Concept Definition
This phase helps you to better define your idea from a customer’s perspective. Your concept must define its intended perception by the target audience through user stories. Additionally, you must identify your focus group and figure out the positioning of your product in their mind.
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Strategic Analysis
This stage helps you understand the viability of your idea and ascertain whether it makes business sense to pursue it. If an idea makes no business sense, there is no reason to waste resources building it.
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Product Development and Testing
Once you’ve received a go-ahead from the strategy/business analysis team to transform your product idea into an actual product, your engineering teams take over to build you an MVP or a minimum viable product. An MVP is that version of a product that has enough features to attract early adopters and validates your product idea during the development cycle.
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Market Testing
Market testing helps you to validate your product idea in the real world. You decide on effective methods of advertising, marketing, packaging, distribution, and sale of your product to your target audience.
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Commercialization
Commercialization is an acceptance of your product’s viability and a go-ahead from your management to launch it in the market.
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Product Launch
This stage involves substantial investments in creating an infrastructure for your product and kickstarting your product’s sales promotions and advertising campaigns.
Benefits of New Product Development
New Product Development offers several benefits to entrepreneurs. Here are the top 5 reasons why you must choose the New Product Development process to create a new product or improve your existing product:
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Improved chances of success
The NPD process helps entrepreneurs make informed business decisions, boosting their chances of success with minimal risk.
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Faster time to market
With the NPD approach, you quickly create an MVP after validation that gets to your customers faster. This is in contrast to a traditional product development process which relies on the availability of existing PoCs and follows a standardized software development process that takes time to complete.
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Quickly validate the technical feasibility of the idea
Using the MVP approach and the first five stages of the NPD process helps you establish the technical feasibility of your idea before launching it into the market, saving you time, money, and resources.
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Better meet the needs of your target audience
A validated product relies on learnings from key stakeholders and the target audience to ensure that it meets their needs. The NPD process validates your product at each step, helping you transform your idea into a viable, much-loved product.
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Reduces technical debt
Due to its iterative development approach of creating MVPs as a new product, NPD reduces the amount of technical debt faced by the development team as the tradeoffs associated with quickly launching an MVP can be resolved in upcoming releases.
Best Practices that you must follow during New Product Development
A business that relies on best practices for NPD will ensure that it delivers highly successful products into the market. Here’s what you can do to ensure that you create a much-loved new product:
- Have a long-term product vision
- Do not begin development without an NPD process and effective validation frameworks in place.
- Get a cross-functional team in during the ideation process. Their inputs might help you build a better product.
- Support New Product Development with its required funding
- Have enough resources to complete product development in time
- Set realistic product development and launch timelines. No one likes a half-baked product or one that takes too long to get to the market.
Examples of Effective New Product Development
Apple
Apple is the poster boy of New Product Development. It develops its groundbreaking products using the Apple New Product Process—where teams answer the What, Who, Why, How, and When of the product in excruciating detail. It continuously tests and reviews its products even after moving to manufacture them to ensure that its customers get nothing but the best.
Google’s innovative products have revolutionized internet search, email, mobility, data, and analytics using a Design Sprint approach that helps them build iteratively better products. This approach uses a five-stage development process led by a sprint master. These stages include:
- Understand—teams brainstorm to gather insights that best define a problem the target audience faces.
- Sketch—each team member sketches their solution to the problem and then shares it with the team.
- Decide—teams vote for the best ideas using a decision matrix or risk/value proposition approach.
- Prototype—dev teams build prototypes of the proposed solutions to get real-time feedback and rapidly get insights about the proposed product and its viability.
- Validate—Teams showcase the product to end-users who use the product extensively. The teams use metrics to validate the product and further fine-tune the product development approach.
Final Thoughts
Without thinkers, inventors, and entrepreneurs, the world would be a dull and dreary place. These individuals transform groundbreaking ideas into products we love (or hate). New Product Development helps a business gain a significant competitive advantage and can help it monopolize the market. However, a world-class product development team is essential to ensure that you can do all this and more! At Volumetree, we understand the importance of innovation and being at the right place at the right time with the right product. Our engineering teams have spent years helping entrepreneurs ideate, validate and launch innovative, world-class products used by millions of individuals every day.
Got an idea that can change the world? Let us know. We can help.
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Ashley JKT48: Bintang yang Bersinar Terang di Kancah Idol
Siapa Ashley JKT48?
Siapakah tokoh muda berbakat yang menyita perhatian banyak penyuka musik di Indonesia dan Asia Tenggara? Dialah Ashley Courtney Shintia, atau yang lebih dikenal dengan nama panggungnya, Ashley JKT48. Masuk dengan grup idola JKT48 pada tahun 2018, Ashley dengan cepat menjadi salah satu anggota paling populer.
Riwayat Hidup
Lahir di Jakarta pada tgl 13 Maret 2000, Ashley memiliki darah Tionghoa-Indonesia. Beliau memulai perjalanannya di dunia entertainment sebagai peraga dan aktris, sebelum akhirnya masuk dengan JKT48. Personanya yang periang, nyanyiannya yang kuat, dan kemampuan menari yang mengagumkan menjadikannya idol yang sangat dicintai.
Award dan Pengakuan
Popularitas Ashley telah diapresiasi melalui berbagai penghargaan dan pencalonan. Pada tahun 2021, ia mendapat pengakuan “Member Terpopuler JKT48” di ajang JKT48 Music Awards. Ia juga dinobatkan sebagai “Idol Tercantik di Asia” oleh sebuah majalah online pada tahun 2020.
Peran dalam JKT48
Ashley memainkan fungsi krusial dalam grup JKT48. Dia adalah anggota Tim KIII dan berfungsi sebagai dancer utama dan vokalis. Ashley juga terlibat sebagai anggota dari unit sub “J3K” dengan Jessica Veranda dan Jennifer Rachel Natasya.
Karir Solo
Selain kegiatan di JKT48, Ashley juga mengembangkan perjalanan solo. Ia telah mengeluarkan beberapa lagu tunggal, termasuk “Myself” (2021) dan “Falling Down” (2022). Ashley juga telah berkolaborasi dengan artis lain, seperti Afgan dan Rossa.
Aktivitas Privat
Di luar kancah panggung, Ashley dikenali sebagai pribadi yang humble dan ramah. Ashley suka melewatkan waktu bersama sanak famili dan teman-temannya. Ashley juga punya hobi melukis dan fotografi.
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Online Casinos: Innovation and Benefits for Contemporary Community
Introduction
Online casinos are virtual sites that offer players the chance to participate in betting activities such as card games, roulette, 21, and slot machines. Over the past few years, they have turned into an integral component of online leisure, offering numerous benefits and possibilities for players globally.
Availability and Ease
One of the main benefits of online casinos is their availability. Players can play their favorite activities from any location in the world using a computer, tablet, or mobile device. This saves time and money that would typically be used going to land-based gambling halls. Furthermore, 24/7 availability to activities makes online casinos a easy option for people with busy lifestyles.
Range of Activities and Entertainment
Digital gambling sites offer a vast variety of games, allowing everyone to discover something they like. From traditional card activities and board activities to slots with diverse concepts and increasing prizes, the range of games guarantees there is something for every taste. The ability to play at various skill levels also makes online casinos an ideal location for both novices and experienced players.
Financial Advantages
The digital casino sector contributes greatly to the economic system by creating employment and generating revenue. It supports a diverse range of professions, including programmers, client assistance agents, and advertising specialists. The revenue produced by online gambling sites also contributes to tax revenues, which can be used to fund public services and development projects.
Technological Innovation
Digital gambling sites are at the forefront of tech innovation, constantly integrating new innovations to enhance the gaming entertainment. Superior graphics, real-time dealer activities, and virtual reality (VR) casinos offer engaging and realistic gaming experiences. These advancements not only enhance player experience but also expand the limits of what is achievable in online leisure.
Responsible Gambling and Assistance
Many digital gambling sites encourage responsible gambling by offering resources and assistance to help players control their betting habits. Features such as deposit limits, self-exclusion choices, and access to support services ensure that players can enjoy betting in a secure and monitored setting. These measures demonstrate the sector’s dedication to promoting healthy betting habits.
Social Interaction and Community
Digital gambling sites often offer interactive options that allow users to connect with each other, creating a feeling of belonging. Multiplayer activities, communication tools, and social media integration allow players to network, share experiences, and build relationships. This interactive element enhances the overall gaming entertainment and can be especially beneficial for those seeking social interaction.
Summary
Online casinos offer a diverse range of advantages, from accessibility and convenience to economic contributions and innovations. They provide diverse betting options, support safe betting, and foster community engagement. As the industry continues to evolve, digital casinos will probably remain a significant and beneficial presence in the world of digital entertainment.
Free Slot Games: Fun and Rewards for All
Complimentary slot games have become a widespread form of online leisure, delivering players the suspense of slot machines free from any financial stake.
The principal purpose of free slot games is to provide a enjoyable and engaging way for individuals to experience the thrill of slot machines devoid of any monetary danger. They are developed to replicate the experience of real-money slots, giving players to activate the reels, enjoy various motifs, and receive online rewards.
Amusement: No-Cost slot games are an superb avenue of amusement, granting periods of pleasure. They feature animated imagery, compelling soundtracks, and varied themes that cater to a broad range of interests.
Proficiency Improvement: For newcomers, free slot games provide a risk-free situation to get acquainted with the workings of slot machines. Players can get acquainted with multiple feature sets, paylines, and additional features absent the concern of sacrificing capital.
Relaxation: Playing no-cost slot games can be a great way to decompress. The straightforward experience and the opportunity for online rewards make it an enjoyable hobby.
Shared Experiences: Many free slot games feature community-based functions such as tournaments and the opportunity to interact with peers. These features inject a social layer to the interactive experience, inspiring players to pit themselves against fellow participants.
Advantages of No-Cost Slot Games
1. Approachability and Ease
No-Cost slot games are conveniently accessible to anyone with an network connection. They can be accessed on different devices including laptops, mobile devices, and handsets. This simplicity enables players to relish their chosen games anytime and anywhere.
2. Monetary Innocuousness
One of the paramount advantages of no-cost slot games is that they eradicate the monetary jeopardies associated with gambling. Players can relish the suspense of rotating the reels and earning major payouts without wagering any cash.
3. Breadth of Offerings
Free slot games are offered in a broad assortment of motifs and styles, from traditional fruit machines to contemporary video-based slots with elaborate narratives and illustrations. This diversity provides that there is something for all, irrespective of their tastes.
4. Improving Mental Capabilities
Playing no-cost slot games can help strengthen mental capabilities such as anticipatory planning. The need to consider paylines, learn procedural knowledge, and predict outcomes can provide a cognitive training that is simultaneously rewarding and beneficial.
5. Secure Pre-Testing for Actual-Currency Gaming
For those thinking about shifting to actual-currency slots, free slot games offer a worthwhile trial environment. Players can explore diverse games, build tactics, and gain self-belief before opting to risk actual funds. This preparation can culminate in a more informed and rewarding paid gaming encounter.
Summary
No-Cost slot games provide a plethora of benefits, from sheer fun to skill development and community engagement. They present a risk-free and zero-cost way to relish the excitement of slot machines, making them a beneficial extension to the domain of virtual leisure. Whether you’re wanting to unwind, improve your intellectual faculties, or just enjoy yourself, complimentary slot games are a wonderful alternative that persistently captivate players worldwide.
Free Slot Games: Pleasure and Benefits for Individuals
Summary
Slot-based games have historically been a mainstay of the gaming experience, granting users the prospect to earn significant rewards with just the trigger of a lever or the click of a mechanism. In the past few years, slot machines have also emerged as popular in digital gambling platforms, establishing them reachable to an increasingly wider audience.
Fun Element
Slot-based games are crafted to be pleasurable and captivating. They feature vibrant imagery, thrilling audio components, and diverse motifs that suit a comprehensive selection of preferences. Regardless of whether users experience time-honored fruit symbols, thrill-based slot-related offerings, or slot-based games rooted in well-known cinematic works, there is a choice for everyone. This range guarantees that customers can consistently discover a activity that aligns with their preferences, delivering spans of entertainment.
Simple to Engage With
One of the most significant advantages of slot machines is their simplicity. Unlike certain casino experiences that necessitate forethought, slot machines are straightforward to understand. This renders them reachable to a comprehensive audience, involving inexperienced individuals who may perceive deterred by increasingly intricate experiences. The straightforward nature of slot-based games gives participants to unwind and experience the offering devoid of fretting about complicated guidelines.
Unwinding and Destressing
Interacting with slot machines can be a excellent way to unwind. The repetitive essence of rotating the reels can be calming, granting a intellectual reprieve from the demands of routine life. The chance for receiving, regardless of whether it is simply small amounts, injects an component of excitement that can improve participants’ mindsets. Several players determine that playing slot-based games enables them unwind and divert their attention from their issues.
Social Interaction
Slot-related offerings likewise offer chances for social participation. In land-based wagering facilities, customers often group around slot machines, rooting for each other on and commemorating triumphs as a group. Virtual slot-based activities have also incorporated collaborative aspects, such as competitions, permitting participants to network with co-participants and share their experiences. This feeling of shared experience bolsters the total interactive encounter and can be especially pleasurable for individuals aspiring to social connection.
Economic Benefits
The broad acceptance of slot-based activities has substantial economic upsides. The field creates opportunities for offering designers, wagering staff, and user aid representatives. Also, the earnings yielded by slot-related offerings provides to the economy, delivering revenue incomes that resource societal programs and infrastructure. This financial effect expands to simultaneously land-based and online casinos, rendering slot-based activities a helpful aspect of the leisure industry.
Cerebral Rewards
Interacting with slot machines can in addition produce cerebral upsides. The experience calls for players to render rapid decisions, discern patterns, and supervise their betting strategies. These cerebral undertakings can enable sustain the cognition focused and enhance intellectual capabilities. For elderly individuals, engaging in cerebrally engaging experiences like engaging with slot machines can be advantageous for sustaining mental functioning.
Accessibility and Convenience
The advent of digital casinos has constituted slot-based games additional approachable than previously. Users can experience their most liked slot-based games from the ease of their individual abodes, employing PCs, pads, or cellphones. This ease gives players to partake in anytime and no matter the location they desire, free from the need to travel to a traditional casino. The offering of no-cost slot-related offerings as well gives users to enjoy the game absent any monetary investment, making it an welcoming kind of amusement.
Key Takeaways
Slot machines deliver a abundance of advantages to people, from sheer fun to cognitive benefits and group-based engagement. They offer a safe and cost-free way to relish the rush of slot-based games, making them a valuable complement to the domain of virtual recreation.
Whether you’re wanting to decompress, enhance your mental skills, or solely derive entertainment, slot-based activities are a fantastic option that continues to delight participants across.
Key Takeaways:
– Slot-based games offer entertainment through vibrant illustrations, captivating sounds, and wide-ranging ideas
– Uncomplicated interaction renders slot-based activities reachable to a extensive population
– Playing slot machines can deliver unwinding and cerebral upsides
– Communal elements elevate the total gaming encounter
– Online approachability and free choices make slot-based games open-to-all forms of amusement
In recap, slot-related offerings persistently offer a diverse collection of advantages that cater to users around. Whether aspiring to pure entertainment, cerebral engagement, or collaborative interaction, slot-related offerings remain a excellent choice in the dynamic realm of electronic gaming.
Virtual Casino Real Money: Upsides for Participants
Preface
Online wagering environments offering for-profit activities have obtained considerable popularity, providing players with the opportunity to receive monetary rewards while savoring their most preferred gambling offerings from abode. This text explores the benefits of internet-based gambling platform paid experiences, underscoring their constructive influence on the gaming industry.
Ease of Access and Reachability
Digital gaming site paid games grant convenience by allowing players to access a comprehensive range of games from anywhere with an web access point. This eradicates the necessity to journey to a physical wagering facility, conserving effort. Digital gaming sites are likewise present at all times, permitting customers to partake in at their ease.
Range of Possibilities
Virtual wagering environments present a more comprehensive breadth of activities than traditional wagering facilities, involving slot-based activities, blackjack, roulette, and poker. This breadth enables players to experiment with different offerings and identify unfamiliar most preferred, enhancing their comprehensive gaming encounter.
Bonuses and Promotions
Internet-based gambling platforms present generous rewards and discounts to attract and keep users. These rewards can include welcome incentives, non-chargeable turns, and cashback offers, providing further worth for participants. Loyalty initiatives likewise reward customers for their continued support.
Skill Development
Engaging with real money offerings in the digital realm can assist users acquire skills such as problem-solving. Offerings like blackjack and poker necessitate customers to reach determinations that can influence the outcome of the offering, assisting them hone decision-making aptitudes.
Interpersonal Connections
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Digital gaming sites grant opportunities for communal interaction through messaging platforms, interactive platforms, and real-time croupier activities. Users can communicate with fellow users, exchange advice and tactics, and in certain cases create personal connections.
Fiscal Rewards
The online casino field creates employment and adds to the financial system through fiscal revenues and authorization costs. This financial effect upsides a extensive selection of vocations, from activity creators to player support professionals.
Key Takeaways
Internet-based gambling platform real money experiences offer multiple upsides for users, incorporating ease, breadth, rewards, skill development, interpersonal connections, and financial rewards. As the sector steadfastly evolve, the broad acceptance of online casinos is likely to rise.
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Fortune Gambling Platform: In an Environment Where Fun Converges With Fortune
Fortune Casino is a popular virtual destination characterized for its wide array of experiences and captivating rewards. Let’s examine why so many people savor playing at Fortune Gambling Platform and the extent to which it rewards them.
Pleasure-Providing Aspect
Luck Casino offers a variety of games, including traditional card games like 21 and ball-and-number game, as well as groundbreaking slot-related offerings. This range provides that there is an alternative for everyone, constituting each experience to Luck Casino satisfying and pleasurable.
Substantial Payouts
One of the key attractions of Fortune Wagering Environment is the chance to achieve substantial winnings. With substantial grand prizes and incentives, customers have the opportunity to experience a reversal of fortune with a single play or hand. Numerous players have received considerable payouts, augmenting the thrill of partaking in Wealth Casino.
Convenience and Accessibility
Fortune Gaming Site’s internet-based platform constitutes it as convenient for customers to experience their cherished experiences from any location. Whether at abode or on the go, customers can engage with Wealth Gambling Platform from their PC or tablet. This approachability provides that participants can savor the thrill of the wagering anytime they desire, without the obligation to make trips.
Range of Possibilities
Wealth Wagering Environment provides a broad choice of offerings, securing that there is an option for all type of player. Starting with classic card games to conceptual slot-related offerings, the variety maintains users absorbed and delighted. This choice in addition permits customers to experiment with different games and find new most preferred.
Perks and Advantages
Luck Wagering Environment rewards its customers with bonuses and special offers, including new player promotional benefits and reward initiatives. These bonuses not simply elevate the entertainment experience but also augment the chances of achieving substantial winnings. Customers are steadfastly encouraged to keep playing, rendering Fortune Gambling Platform increasingly attractive.
Group-Based Participation and Collaboration
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Luck Gambling Platform offers a feeling of togetherness and communal engagement for customers. Using communication channels and online communities, customers can connect with fellow users, share advice and approaches, and even establish social relationships. This communal element adds another dimension of satisfaction to the entertainment interaction.
Recap
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Ashley menjalankan fungsi krusial dalam grup JKT48. Ia adalah anggota Tim KIII dan berfungsi sebagai penari utama dan vokalis. Ashley juga terlibat sebagai bagian dari unit sub “J3K” bersama Jessica Veranda dan Jennifer Rachel Natasya.
Karir Solo
Selain aktivitasnya bersama JKT48, Ashley juga merintis perjalanan solo. Ia telah meluncurkan beberapa single, termasuk “Myself” (2021) dan “Falling Down” (2022). Ashley juga telah berkolaborasi dengan musisi lain, seperti Afgan dan Rossa.
Aktivitas Privat
Di luar bidang panggung, Ashley dikenal sebagai pribadi yang rendah hati dan ramah. Ia menggemari menghabiskan jam bersama keluarga dan sahabat-sahabatnya. Ashley juga memiliki hobi mewarnai dan fotografi.