Innovation in Services

Innovation in services refers to the introduction of new ideas, processes, or improvements that enhance the way services are delivered to customers. This can include developing new service offerings, adopting technology to streamline operations, or improving customer interactions. For example, online banking apps are a service innovation that makes managing finances more convenient. Service innovation aims to increase efficiency, improve customer satisfaction, and create a competitive edge in the market, ultimately providing greater value to consumers and adapting to changing needs and preferences.