Peter Nolan of Digitain presents his insight into industry innovation.
«There is nothing more delicate, nor more dangerous to drive, or more dubious about success than being a leader in making change. For he who innovates will have as enemies all who are wealthy under the old order of things, and only lukewarm supporters for those who can do better under the new order ”.
Niccolò Machiavelli "The Prince", circa 1513
So what meaning can you think of 16 th A century diplomat and political philosopher aims at product development strategies games random activities in 2020?
Tell the truth, probably little , but he does it well. Innovation is difficult and there are many reasons for it which it seems she's an obvious problem in our industry.
Is certainly a lot m e- vol o. o development where companies are quick to copy seemingly successful innovations, often without realizing it issues, why given by the novelty worked. Lack of awareness of what is hidden in the "black box" in terms of the justification of the initiative and not understanding the underlying technical features or understanding what marketing activities are key to success , can lead to a waste of invested time and money .
However, it is a mistake to claim that there is no innovation. I think one problem is that there is often confusion at iGaming between invention and innovation.
For me, An invention describes a significant change in a product or process, something that has the potential to change the way we do business. The microprocessor was an invention, and The iPhone was an innovation by taking advantage of existing technology and completely changing the way you use a simple mobile phone.
Innovation is not a step change . This what to improve the way products, processes or services re delivered. Innovation no must be radical to be successful but this a must have the tools and should provide added value.
Therefore, I would argue that innovation takes place in the industry sports betting and games, although they may be "under the hood" and invisible to outsiders.
AND T expect that due to Covid- 19, innovation in the development of iGaming will advance with taking into account customer requirements (effectiveness) with emphasis on optimization of costs (efficiency).
Another complication when innovation discussi NG is that often confused with continuous improvement activities.
It could be argued that it was continuous the process of delivering minor improvements brings company more value than focusing on breakthrough innovation , and even inventions.
Perhaps more companies operating on iGaming would be better off seeking marginal profits internally rather than trying to win with industry-leading Eureka.
Continuous improvement and innovation should belong to everyone in the company to identify and take action , although what is needed is a supportive culture, systems and processes to recognize and reward effort. The company must avoid the trap indicated by Machiavelli above , i.e. fear of change and permit, by inertia ruled .
Continuous improvement and innovation are two sides of the same coins, their overlapping meanings and probably differ only under respect scale changes.
The British was a good example of a continual improvement strategy a cycling team from the mid-2000s. Before the appointment new trainer, Dave Brailsford, the British cycling team has experienced 100 years of mediocrity.
In 2007-2017, British cyclists won 178 world championships, 66 gold medals at the Olympic and Paralympic Games, and bake victories in the Tour de France.
T. his greatest success in cycling history has been achieved t hrough aggregation "marginal profit" or continuous improv property removed. It meant searching little margin for improvement in everything they did .
Brailsford and his team constantly were looking for "1% improvement". E. ven although the impact cannot be noticed, aggregation of these improvements they do differences and possession improvement team psychology.
Perhaps more companies in iGaming will be better served to look internally for marginal profit instead go for weights with E. in the moment of ureka industry.
How mentioned above , changing the status quo can be difficult. There is many internal barriers to overcome. One possible approach to improvement iGaming innovation understanding that not all brains are involved in business. M. any companies at iGaming have established relations with other smaller ones companies or start-ups with fewer barriers and a greater appetite for risk in order providing innovative products or ideas.
At Digitain we believe it is file applicable strategy , and thanks to our Digitown initiative , a technology campus developed in Yerevan and the future headquarters of Digitain in the purpose of practical, financial and mentoring support for start-ups, we will invest in the youth of Armenia to support innovation.
Yeah initiative will bring Digitain benefits in terms of potential innovation generated by the relationship , and will help develop Yerevan's identity as a center of technological excellence.
It was study carried out through scientists, who wanted to see how the composition of the working groups can affect productivity and performance. They gathered a large group of experienced managers and divided them into 10 teams of five. They then assigned each group a series of identical tasks , which could have produced tangible but variable results. What managers in groups do he knew that halfway through groups, one of the participants was plant. Their job was polite questioning every decision, but being adamant throughout the process.
When the tasks were done, the results were striking . In each example, t he teams out of the plant better than other teams over a considerable distance. Creative tension caused by the activities of the plant , questioning every decision , resulted in better overall team performance.
Other bands that f ormed tormed, s, n and p erformed ormed, but to a lesser extent than the others groups, which made, Stormed but from being performed. But when the groups were later asked if they wanted to change their group composition, those who underperformed they wanted to keep the same people together. IN groups with better results the decision was unanimous : everyone wanted to get rid of the member that questioning everything they were doing.