There are words and names for everything. Even things that haven't been invented will have words that will best describe them. If you are trying to communicate meaning or value, the best way to do that is, in most cases, to use names and words that already exist. People will know how to say it, spell it, understand and remember it. In contrast, when you string a bunch of letters together nonsensically, as a name for a person, then you put people through the hassle of learning a new word. But you're being creative, right? No. You are part of a massive horde of people who jumble letters together. It also gyps you out of the opportunity to have a name with an already established value or meaning.
It is also important to keep in mind that, for every type of thing, there's a pattern to naming it. Sometimes, following the pattern helps in choosing the name. However, every once in a while, a name that doesn't fit a pattern will work.