Test Innovation Through Data
Recent corporate innovation experts seem fixated on the tactics originating in the startup space. Companies are trying out experimental new offerings and determining quickly whether the new item is successful, immediately clearing it away if it fails.
As Forbes‘ Bain Insights blog pointed out, however, there is more to this ethos than just pivoting over and over. (Dec.13, Brahm, Lichtenstein and Spaulding) Organizations have become better at using rich data to determine in record time whether or not their new concepts are worth pursuing, thus decreasing the risk to the companies as a whole.
Collecting and using data means going straight to customers. Businesses can skip intensive in-house testing when they have a good idea and take it straight to the masses, albeit in a limited, test-market format. The ideas deployed this way can be bold and ambitious, rather than incremental steps.
There is a place for incremental thinking and iteration, however: When a business develops a new feature, it can learn a lot from rolling it out right away, even if it addresses a single customer concern rather than every possible scenario. Rapid upgrades, and feedback collection every step of the way, are hallmarks of agile development methods.
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