Top Posts Tagged with #data-driven innovation

The Link Between Digital Transformation and Innovation

Technology is advancing and digital transformation is taking the world by storm. However, many misconceptions about innovation are also on t

Companies must balance the need for technology migration with immediate operational concerns. For example, simultaneous infrastructure upgrades across all the factories, offices, and workflows will strain the workers, preventing them from developing creative solutions. So, prioritizing a specific digital transformation initiative via modular planning is vital. This post describes all the precautions for extensive tech transitioning and how innovation does not hold back related endeavors.

#Digital Transformation #Data-driven innovation #Opportunities

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The socio-economic fallout of the pandemic and geopolitical unrest continues to test the resilience of business models and resolve of the functional leaders.HBR reports that 91% of the insiders acknowledge the centrality of data and analytics to successful business transformation.It implores CIOs, innovation leaders, and CDOs to collaborate and embrace a data-first culture, uncovering new opportunities for creating exponential business values.The OECD defines DDI as applying data and analytics to elevate product development, business processes, organizational methods, or go-to-market (GTM) strategies.Some such use cases can be:Product development: Data and analytics help identify gaps in the concepts and prototypes and point towards possible product and service innovation opportunities.Also, Intuit monetized the usage data of its personal finance management (PFM) tool Quicken to seek out improved business opportunities, developing the QuickBooks accounting package for SMEs.Business decisions: Over 90% of the businesses that prioritize data and analytics in their decision-making culture feel confident about assuming faster and relevant choices.The OTT platform arrived at a conclusion by correlating customer behavior data sets around the popularity of the lead actor, the director, and the original British TV show.

#Data-driven Innovation

A Recipe for Data-Driven Innovation in MENA

Building capacity and creating local successful scalable models are key priorities in which synergy can help optimise the process. Visualising success helps raise awareness in a nicely summarised fashion.

The pyramids in Giza, Egypt. Image by Abed Khooli, February 2016. Used with permission.

The data driven innovation weekthat took place in Cairo, Egypt (Feb. 18 – 23, 2016) is the first of its…

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#ddiMENA #capacity building #data-driven innovation #thoughts

Today, the generation and use of huge volumes of data are redefining our “intelligence” capacity and our social and economic landscapes, spurring new industries, processes and products, and creating significant competitive advantages. In this sense, data-driven innovation (DDI) has become a key pillar of 21st-century growth, with the potential to significantly enhance productivity, resource efficiency, economic competitiveness, and social well-being. Greater access to and use of data create a wide array of impacts and policy challenges, ranging from privacy and consumer protection to open access issues and measurement concerns, across public and private health, legal and science domains. This report aims to improve the evidence base on the role of DDI for promoting growth and well-being, and provide policy guidance on how to maximise the benefits of DDI and mitigate the associated economic and societal risks.

#data-driven innovation #big data #economic growth #oecd