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Thursday, February 26, 2015

Service Innovation in a Digital World

In McKinsey Quarterly:  New Business models for services.  Discussion of key technologies that are modifying service delivery.

" ... New digital upstarts are threatening the bottom lines, growth prospects, and even business models of traditional service providers. It’s time for incumbents to innovate—or be left behind.

A growing number of companies are finding their service businesses under threat. The culprits are members of a new wave of digital upstarts that capitalize on changes in technology, customer behavior, and the availability of data to create innovative, customer-friendly alternatives to the services incumbents offer. Indeed, the sorts of digital disruptions that began in retailing with the likes of Amazon, two decades ago, are fast coming to an industry near you—if they haven’t already. Examples include Uber and Zipcar in transportation, Airbnb in hotels and hospitality, AngelList in venture capital, and Castlight Health and Healthgrades in healthcare. Attackers such as these may be small now, but they represent a growing challenge to traditional companies. .. " 

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