Digital innovation

Digital Innovation refers to the application of digital tools and digital infrastructure to the challenge of offering customers enhanced or unique value (e.g., better combination of variables such as benefits, costs, convenience, etc.).
Digital Innovation has gained added importance of late because of increased competitive pressures placed on organizations of all types as evidenced by recent studies by John Hagel and others on the subject. As newspaper, music, movie, retail and other industries undergo massive disruptions at the hands of companies such Apple, Netflix, Amazon, Google and Craigslist, organizations are attempting to makes sense of theses changes.
For organizations, many assert that the challenges have to do more with organizational culture and business model innovation better enabled by digital tools, than anything else. In other words, its more of a "people problem" and a "paradigm shift" than a technological issue. For instance, MIT Sloan economist and digital-business expert Erik Brynjolfsson argues that competitive advantage depends on innovation and that the biggest driver of innovation today is Information Technology.

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