Wednesday, May 03, 2017

Innovation is Yielding to Constant Innovation

Innovation is important. There's no question about that in this world of data driven decision making, IoT and increased data mobility. But there are two major points to make about the extent to which businesses must innovate in order to survive and prosper.

First, any company that is not exploring how it can gather, analyze and use data for its core business activities is missing a boat that is leaving the dock and they will not be able to catch.

Second, the forces of change in technology are moving so fast that innovation must be a constant in the company, raising the question - is constant innovation a type of innovation or something else?

Certainly, constant innovation needs to be managed differently. While innovation can be managed through the use of task forces and project teams, constant innovation must be integrated into mainstream management. Management must be proficient in the implications of big data, how it is gathered, whether it be through IoT or customer mobile units, and how data analytics must be used to make the data actionable.

There are some that say this change is so profound that we need to stop talking about innovation and talk more about embracing these technologies and making sure that the people in the organization are conditioned to their ongoing use. For more on this line of thought, check out this article.

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