InsightaaS: Author/analyst Jason Bloomberg (aka “TheEbizWizard”) is the managing partner of Intellyx, “the first and only advisory, training, and industry analysis firm focused on architecting agility for the enterprise.” Bloomberg has a well-earned reputation for independent thought (something that ATN readers experienced first-hand when we featured his “Seven Reasons why the Internet of Things is Doomed” post in late July), and a deep understanding of the connection between business data and business success.
The post featured today can really be seen as having three parts. The first discusses the components of innovation, including optimization and disruption, and the role that business data plays in supporting innovation. The second looks at the use of Big Data in optimizing maintenance – a well-understood Big Data application, which serves here as a stepping-stone to more advanced uses of data. The third discusses the balance of optimization and disruption that will allow a tech company named after a fruit (“Banana” here, though one might fill in another fruit to find a real-world example) to successfully introduce a watch – a new product in a new (to them) category. In truth, the connections between the sections aren’t really smooth and self-evident, but the overall message provides food for executive thought regarding the balance between optimization and disruption, and what this means for growth strategies.
The recipe for successful innovation: begin with a good measure of disruption. Add a heaping helping of talent, and don’t forget to mix in plenty of creativity. Finally, a pinch of intuition. Stir and bake.
Recipe for innovation? Perhaps. But successful innovation? That’s another story. After all, whether an innovation will actually succeed — that is, meet or exceed its business goals — seems to require some unknown, missing ingredient to the mix. The recipe above may include necessary elements, but taken together, they are still not sufficient to guarantee success.
How’s a Digital Transformation professional to determine that secret element, that je ne sais quoi that leads to successful innovations, every time — or at least, most of the time? Simple. Let’s get out our Big Data analytics tools and crunch some data. Surely, boiling down Big Data to a syrup of innovation to that rare sprinkling of insight will provide that missing ingredient. Magnifique!
Driving Agility with Big Data
At Intellyx we consider innovativeness to be the most important, strategic aspect of business agility. Also along for the ride: responsiveness and resilience. Put these core business drivers together and you have a multifaceted picture of how and why businesses deal with change…