Everycompany’sabilitytoinnovatedependsonaprocessofexperimentationwherebynewproductsandservicesarecreatedandexistingonesimproved.Butthecostofexperimentationislimiting.Newtechnologies--includingcomputermodelingandsimulation--promisetoliftthatconstraintbychangingtheeconomicsofexperimentation.Theyamplifytheimpactoflearning,creatingthepotentialforhigherR&Dperformanceandinnovationandnewwaysofcreatingvalueforcustomers.StefanH.Thomkearguesthattounlocksuchpotential,companiesmustnotonlyunderstandthepowerofnewtechnologiesforexperimentation,butalsofundamentallychangetheirprocesses,organization,andmanagementofinnovation.Heshowswhyexperimentationissocriticaltoinnovation,explainstheimpactofnewtechnologies,andoutlineswhatmanagersmustdotointegratethemsuccessfully.
