This week’s edition of innovation update features the new innovation game in business which is testing.
Business innovation, once the province of teams in white lab coats doing research and development, is moving into the front lines. Increasingly it derives from continual tiny experiments in such areas as business processes and customer relationships rather than a single, company-transforming idea.
Internet-based companies, which can alter their “storefront” at will — “What will happen if we put the shopping cart on the left side of the screen?” — are certainly the most adept at such granular testing. Big players like Google and Amazon.com can sometimes get a statistically significant amount of data to make a decision in a matter of hours.
