Trend-Driven Innovation
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Nowadays, the world we live in is moving faster than ever. For businesses, this creates the urgency to move fast to adjust to new trends in their market and even faster to make use of the arising opportunities.
Instead of reacting to these trends, tech companies such as Amazon or Google but also more traditional companies such as Ikea are proactively watching and preparing themselves for these trends to be able to seize their opportunities to innovate. How can we know what trends we need to prepare for? And how to grasp trends in the first place?
Why is this important for innovation
Trends offer valuable innovation potential - but there is an abundance of trends existing that one need to make sense of to be able to spot these opportunities. Hence, being able to spot trends and make them useful is a key skill for an individual and an organisation when it comes to innovation. We learned, that a trend is a phenomenon that creates constant change in the behaviour, habits or ways in which things work. Other than hypes, trends are constant and have a lasting impact. However, hypes can become trends, too (see Gartner Hype Cycle).
What to expect from this toolkit
🏋️ Methods
- Gartner Hype Cycle: This method gives you an overview of how a technology will develop over time and how its correct use and management in the right context can be relevant to your business goals.
- Trend Mapping: This method is a trend impact assessment tool that helps organizations decide how to act on trends based on their business impact and trend maturity.
📖 To Read
- TNMT Newsletter: TNMT is the industry deep dive for all who work at the forefront of digital innovation in the context of travel and mobility. The newsletter is sent bi-weekly by the Lufthansa Innovation Hub.
- A framework to separate hype from real innovation in aviation: Our TNMT Trend Credibility framework reveals which aviation technologies are underrated, overhyped, or actually on track.
- Tech in Asia: Tech in Asia is the largest English-language technology media company that focuses on Asia. From the latest news to the hottest trends and the boldest startups to the strongest titans, they cover everything tech in the region. Their goal is to build and serve Asia’s tech and startup community.
- Innovation of the Day: This website selects Purpose-driven innovations from around the globe. It features a daily showcase of innovative products, services, and trends. Each day, the website highlights a different "Innovation of the Day" with a brief description and images. The website also features trend reports, articles, and resources for businesses looking to stay up-to-date on the latest consumer trends and innovations.
🎧 To Listen
- a16z Podcast: The a16z Podcast is the go-to place for discussions about innovation as technology changes the way we all work, live, and play. The show aims to help make sense of it all: for builders, for the tech curious, for anyone seeking to understand the future. They do this through in-depth yet accessible conversations with the best technology experts: startup founders, top company leaders, researchers and academics, and renowned book authors.
- WSGN Podcasts: WGSN’s two podcasts are Create Tomorrow and Lives of Tomorrow. Create Tomorrow focuses on how to design a brighter, better future whereas Lives of Tomorrow discusses what future trends mean for us all and how they will affect our lives.
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