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Innovation and Data – The Marketer’s Dilemma

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If there’s one thing that brands and marketers seem to agree on, it’s the importance of innovation. It’s one of those wonderfully squishy concepts that people bandy about, assuming that everyone else understands what they are talking about.

But what is innovation, really — and how do we as marketers think about making it a part of what we do?

I’m sure there are many definitions of “innovation,” but let’s use Wikipedia’s: “something original and new that breaks in to the market or into society.” Fair enough — innovation is a new thing that has not been done before. There isn’t any data and you can’t consult case studies. It’s new, and that means that that nobody really knows what’s going to happen, which explains why innovation is risky and often fails.

It’s unpredictable.

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