When talking about innovation, Google pays close attention to user feedback, iterative progress, and technological know-how. The company eschews the “move fast and break things” credo and focuses on understanding market trends and needs. Founded by Larry Page, Google is part of Alphabet, the undisputed tech powerhouse with a valuation approaching $1 trillion. Google employs less than a million people worldwide, but its search engine alone accounts for 90.5% of the global market. Google captures about 63,000 searches a second.
Google has a wealth of scanned books, and its predictive analysis helps users find what they’re looking for faster. Initially, the company’s sales reps were concerned about how long users would spend viewing ads, but they eventually committed to the project because it was useful. Ultimately, these innovations make web navigation faster and better. In addition to identifying opportunities for profitable innovations, Google views failure as an opportunity to learn and improve.
This process is a powerful way to boost innovation. Companies like Google are renowned for their infrastructure investments, and a purposeful approach makes it possible to roll out new products and services quickly. For example, engineers at Google Finance consolidated the components of the company’s infrastructure to make their product more efficient and convenient. These reusable software components can be baked into the infrastructure of an enterprise, and make it accessible to a variety of internal and external users.