How does data drive innovation?
More than a third of our respondents lacked confidence in their organisation's ability to innovate
Innovation is at the heart of success and, in the instant economy, data is at the heart of innovation. Strong data management and integration can encourage new ideas, new ways of thinking and new approaches to challenges. We discuss this approach in a new whitepaper from Computing and Liaison Technologies: Optimising Data for Innovation.
Innovation is about the creation of value from ideas that lead to tangible change in the status quo. It can range from incremental (‘doing what we do, but better') to transformational (‘doing something radically new'), and stem rise from many sources. For example, innovation can occur as a result of industry and/or market changes, demographic changes, unexpected events or the requirements of business processes.
Innovation can come in many forms, and it doesn't always have to be radical - but what it does have to be is fast. Businesses have always needed to innovate to stay ahead, but the pace has changed. How do businesses manage innovation and make the most of opportunities at a pace aligned to that of the instant economy?
Data is the most powerful tool that organisations have at their disposal. Data-driven innovation is the concept of producing innovative outputs from data. Through tapping into the accessible data through means of data analytics and data science, organisations can supercharge their ability to continuously look for innovations within their business environment and manage this process systematically.
In the new whitepaper, we examine areas of research including:
- How organisations rate their ability to innovate
- The benefits presently being realised from innovation
- The impetus for innovation and how data relates to and from that impetus
- Opportunities for innovation arising from newer categories of technology such as automation
- The obstacles being faced by businesses in their attempts to innovate
To learn more, download the whitepaper now.