WHAT DO WE MEAN BY INNOVATION IN THE DIGITAL AGE?

WHAT DO WE MEAN BY INNOVATION IN THE DIGITAL AGE?

Innovative companies are defined by the organization’s willingness to consistently identify, explore, develop and bring to scale new ideas that help drive new value. While innovation can involve large or small projects, it is the ability to consistently bring big ideas to scale that differentiates the most innovative enterprises from the rest. Gains in operational efficiency are always welcome, but in the long run, real competitive differentiation is provided by big, customer-facing, market-reshaping ideas.

Digital technologies provide great opportunities to achieve this differentiation. Leading organizations are investing in and leveraging digital technologies such as social, mobile, analytics and the connected Internet of Things to better engage with customers, build out new services in and around their core businesses, and even build ecosystems connecting multiple players to help enhance their value proposition.

Companies with strong digital innovation strategies put themselves in position to grow market share and differentiate themselves from competitors, while those lacking such strategies risk losing market share to more innovative disruptors inside or outside their industries.

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