Innovation Strategies to Accelerate Growth and New Product Development: How AWS Helps Retailers Innovate

Many organizations face challenges while trying to build a culture of innovation. a recent study Of the more than 500 business leaders conducted by Harvard Business Review Analytic Services and AWS found that innovative organizations “aim to solve their customers’ problems first, and that informs how to innovate.” At AWS, we spend a lot of time trying to include innovation in our daily work. In this blog, we will discuss some of the methods we use to innovate in Amazon and AWS. We’ll also cover our service offerings to help customers innovate, and we’ll share examples of innovation success stories.

Amazon Leadership Principles

At Amazon, we hold ourselves and each other responsible for pretending 16 principles of leadership In our daily business, such as “Customer Obsession”, “Invent and Simplify”, “Learn and Be Curious” and “Think Big”. These leadership principles help guide our business decisions and remind us to keep customers and their needs in mind as the driving force for our innovation. We teach leadership principles, along with historical examples, to new employees. For example, one example of big thinking is Prime’s two-day delivery, which was a pretty impressive feat in 2005 when Amazon first offered it. Customers didn’t necessarily ask for two-day shipping, but they certainly did. This story point is just one example of how we capture customers and take bold steps to innovate. At Amazon, nearly 90% of what we build is driven by what customers tell us they want. And for the remaining 10%, we pay close attention to pain points and create new features and services to surprise and delight customers.

Six-page narrative

Here’s another weird aspect of AWS and Amazon culture: We rarely use PowerPoints for internal presentations. Instead, we use a six-page narrative. On the face of it, this sounds quite strange – and there is certainly an investment of time to prepare this kind of deep narrative. But there is a reason. Often the perception of a presentation is strongly influenced by the presenter rather than the idea itself. The use of written words forces the presenter to find facts to support the idea, and encourages people to focus on the main idea rather than great graphics and great presentation skills. It also allows the presenter and audience to engage in a deep discussion that usually includes diverse opinions and respectful challenges to assumptions that help refine and improve the idea – long before a single line of code is written.

work backward

To help with implementation, we create mechanisms that codify actions so that they are repeatable. We believe the best mechanisms are self-reinforcement, constantly converting business inputs into valuable customer outputs, and transforming good intentions into action. The mechanism in place is “working backwards”, where we start with the customer’s needs and work backwards to arrive at a solution. We address key questions that help illuminate the client and their problem, as well as the needs and benefits of a potential solution. Amazon across the company grapples with these straightforward questions as they think of new ideas. They’re deceptively simple questions that you can answer in five minutes or spend five months researching exhaustively. Regardless, these questions improve our thinking and approach, and once we have answered the questions, we can move on to the next step in the process: writing a press release and frequently asked questions (PRFAQ) document. This mechanism is in the DNA of our culture, so every Amazon employee is familiar with it.

We draft a press release, which is a forward looking, one-page document announcing the new product, service or process using customer-centric language. You’ll be surprised that writing a one-page press release cuts out the clutter and gives absolute clarity. If the press release is boring or unclear, there is more work to be done to improve the idea. . press releases kindleAnd sound echo, And Get to know Amazon They are all formulated in the thinking stage, long before the products are actually built. Before we hire a team or get our hands on the keyboard, PRFAQs become a living prototype for these new products – the true test of customer value and capacity.

Net Score: Innovation

The result of our back-to-back approach is better tools, products, and services that solve customer problems for continuous innovation and increased customer value. It’s worth noting that customers moving to AWS reduce IT spending on infrastructure, and free up the budget to reinvest in other regions. AWS customers are also seeing significant improvements in other areas, including employee productivity, operational flexibility, and business agility. As the cloud simplifies the experience, innovation is more accessible than ever – especially for retailers.

Digital Innovation Program

With many retailers unsure how to get started, AWS offers programs to help Retailers Innovate. the AWS Digital Innovation Program It is a workshop-style session where our experts help you refine your idea and outline a path to realizing your idea, drawn from over 20 years of experience at Amazon. The program offers a variety of engagement opportunities, including one-on-one talks on “Culture of Innovation” and “Learning from Amazon” explaining our approach to innovation that has led to RoboticsAnd AWS, And Amazon Go.

Digital Innovation and Reverse Action Program Success Stories

The AWS Digital Innovation Program also offers Work Back Shares to help companies unleash innovation. Here are several examples of successful engagements:

  • Pacific matters—This South Korean beauty and cosmetic company ranks 12thy In the world in its class. Amazon Digital Innovation’s involvement has led to the development of new streams of innovation across the business, including a beauty advisor and stress management service. To find out more, read Case Study.
  • Ferring Pharmaceuticals—This specialized biopharmaceutical company is committed to helping people build healthy families. Linking digital innovation with a work-back approach helped the company understand the root causes of couples not seeking help with fertility issues. The session led to Fertility House Calls The program has been rolled out across the United States. To find out more, read Case Study.
  • Konica Minolta Precision Medicine (KMPM)—Part of the Konica Minolta Group, KMPM Corporation is dedicated to the discovery and treatment of diseases. In sharing work backwards, Amazon helped the company reimagine its networkTM It is a leading integrated diagnostic data platform that combines genomics, pathology and radiology data together with other critical information to reveal new clinically relevant biomarkers and create the next generation of diagnostic tests. To find out more, read press release.
  • Melia International Hotels—As Europe’s third largest hotel chain, the AWS Digital Innovation Program has helped the company reimagine the check-in experience in the era of COVID-19. Melia has become the first hotel chain in Spain to be approved to reopen after the lockdowns with the launch of “Face to Go”, a contactless check-in process using facial recognition, scanning identity documents, and terminals in hotels that already recognize a customer upon entry. To find out more, read Case Study.
  • Fabulous—It is the largest sports betting operation in Romania offering casino games, live sports, lotteries and more. In the back-to-back digital innovation session, the company focused on the customer perspective and created a loyalty program called Super Club for retail customers. It has been very successful, and Superbet has expanded the program to online users as well. To find out more, read Case Study.

Programs and other consulting resources

In addition to the AWS Digital Innovation Program, we also offer several other advisory and advisory programs, including:

  • Innovation TransformationsPresented by the AWS Professional Services Innovation Advisory Team, this program is designed for enterprise companies that want guidance on organizational design, rapid development, innovation systems, and talent retention.
  • AWS Migration Acceleration Program—This program is ideal for organizations that want to accelerate innovation with new technologies.
  • Enterprise strategists—For large retailers who want to hurry up digital transformationOur corporate strategists, former C-level executives from a wide range of industries, can share their expertise and guidance. Phil Le Brun, former CIO of McDonald’s, is one of our corporate strategists.

Innovation doesn’t just happen. It must be refined across the organization with mechanisms to support innovative efforts and a willingness to take risks. As you will understand from all the customer successes included in this blog, there are no shortcuts. And with the few examples here, we’ve only scratched the surface to showcase impressive success stories. But as always, AWS is here to help your retail organization innovate. Call Team your account today to get started.

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