Stimulating digital innovation is hard work. Changing market conditions make innovation more difficult. Furthermore, competition is increasing and disruptive startups are emerging in every industry, so you need to quickly convert your innovative ideas into relevant and innovative applications. Digital innovation platforms can help you with this.
We live in the age of digital Darwinism. You must evolve or you will become irrelevant. In fact, it is predicted that four out of ten companies will no longer exist in ten years if they fail to stimulate digital innovation. To stay relevant, you have to deliver the right applications at the right time. Although you probably already have a large number of new ideas, you first have to focus on the ideas that provide the most value for your organisation.
The best digital solutions are focused on the following three areas:
Over the past decade, business applications have evolved considerably, from the web to mobile to multi-channel apps. With each stage came new use cases that were simply not possible before due to technical limitations. Currently, we are at an inflection point in the history of application development. By 2020, the amount of data worldwide will double every two months. The rapid rise of the Internet of Things (IoT), big data and machine learning will spawn a new generation of apps as we know them.
Smart Apps are innovative systems that collect huge amounts of data from sensors and other sources. They then use machine learning algorithms and predictive analysis to interpret this data to make it useful for users and to improve experiences. Unlike their predecessors, they are:
Organisations that do not get started with this technical development run the risk of being overtaken by their competitors. Even though this development can pose an existential threat, it can also offer one of the greatest business opportunities in decades. In the future, according to Gartner, more than half of all large organisations worldwide will compete with the help of advanced analytics and proprietary algorithms, disrupting entire industries and creating new, high-value companies. Moreover, McKinsey estimates that in 2025 alone, IoT could generate up to $ 11.1 trillion in economic value.