Digital Innovation Strategy: Definition, Importance & Considerations

Having a digital innovation strategy is crucial for businesses to make processes more efficient, serve new customer needs, improve customer experience, and increase profitability in the long run. Here are three important aspects to consider when designing a successful digital innovation strategy: sources of innovation, agility of strategy, and digital technologies. Companies should consider both internal and external sources of innovation, be adaptable and quick to adjust their strategies, and utilize the latest digital technologies for proper automation.