What is the meaning of technological innovation?

The wikipedia definition says, 'Innovation is the application of better solutions that meet new requirements, inarticulate needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society.'
I would like to explain this with the help of an example- hotels sell their inventory at various platforms online, previously the rate, allocation etc were manged by the staff of the hotel, this procedure was time consuming and full of hassle. Now, the technological innovation that changed all of it is the introduction of channel management software. These software provide seamless connectivity for rate, inventory and reservation delivery to your current hotel system. It helps hotel companies, distribution partners and system providers to transmit pricing, room allocation and booking data instantly between third party vendors and the hotels. An example for such a software would be Connect by eRevMax, it is the most innovative cloud based SaaS software provides you with two-way XML connectivity.