Want to innovate faster? Then it’s time to get your head into the cloud.
The true value of the cloud software is not that it’s a cheaper alternative to hardware, but that it is a fast and flexible environment where innovation can flourish – for both traditional companies and companies born in the digital era.
“Fail fast” is a common mantra throughout Silicon Valley and the larger world of entrepreneurship, especially when it comes to product development. This concept supports the idea that if you can fail fast, you have the opportunity to remedy those failures early on — and more efficiently.
But to do that, you need to have a faster cadence of product innovation. The cloud has created a world where that is possible. Before the cloud, releasing new business features or applications took years to develop and reach the larger market. Now, companies can try out features in a matter of months and pivot quickly – effectively giving cloud-based companies a tremendous head start over laggard companies bogged down by legacy, old-school technology. Not only does it speed up innovation, but also deepens the relationship between vendors and customers. With the ability to pivot and address immediate feedback from customers, they have a firmer grasp of what truly delivers value to their customer base.
Over the past decade, we’ve seen firsthand how companies have used the cloud to outsmart competitors. Take a look at Airbnb, Lyft, Uber and their startup comrades of the world. They have significantly faster innovation cycles compared to old travel booking or cab companies. Armed with faster innovation cycles they can throw out iterations of their products and tailor them so they are easier to use, easier to consume and ultimately a superior service.