Weighing the Cost of Innovation
For several years, innovation has been a buzz word – everyone wants to be innovative. However, we see businesses now weighing the cost of innovation, how it services business objectives and how it’s measured. It’s less about being innovative for the sake of innovation, and more about leveraging the insights we learn from innovation. Great innovation comes with great amounts of data, so businesses will need to assess the value of actionable data or data that can be used to provide a relevant output. The value of innovation cannot be measured by the originality of an idea, or the net sales it ultimately produces. To effectively capture greater ROI, we must share freely – encouraging safe risk-taking along the way and a willingness to take things apart to understand how they might come back together better.
Humanizing Virtual Interactions
With the advent of digital entities, such as agents, bots and avatars, many of our interactions live in the virtual world. But, at the end of the day, we’re still humans and crave real interactions. As customer experience continues to elevate, people’s standards have shifted to seek companies that offer a meaningful experience and a common purpose. Companies should focus on how these digital entities can be leveraged to help an organization match its value proposition to an individual’s values. An organization’s purpose will become mandatory as people will seek out companies that impact the greater good.