Technology is transforming innovation at its core, allowing companies to test new ideas at speeds—and prices—that were unimaginable even a decade ago. They can stick features on Web sites and tell within hours how customers respond. They can see results from in-store promotions, or efforts to boost process productivity, almost as quickly. The result? Innovation initiatives that used to take months and cost a fortune to coordinate and launch can often be started in seconds for pence.
The Speed of Change
- The Evolution: Technology is allowing companies to test new ideas at speeds—and prices—that were unimaginable even a decade ago.
- The Effect: Innovation, the lifeblood of growth, is growing more efficient and cheaper.
- What’s Ahead: Innovative companies will shift away from traditional research-and-development methods. Managers will change the way they solicit ideas. And much, much more.
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