Information Intensive Innovation Excellence

A healthy Information Management cycle makes information available and useful, exerts lots of intelligence, captures insights, adds wind to imagination wings, but makes validation and predictability.

Organizations across the industrial sectors are faced with exponential growth of information, high velocity, fierce competition, and continuous disruptions. It’s important to do data investigation or any attempt at understanding the business context, refined business insight based on reliable information and advanced analysis. The goal is to improve decision effectiveness, harness innovation and achieve high performance.

Leverage advanced analytics to move forward from information robustness to innovation excellence: Organizations are looking at new initiatives to increase revenue growth and improve efficiency. In a business scope, there are some of the important bits and bytes of information needed to forecast emerging technology trends or the business growth opportunities. To predict and respond to the emergent business properties and make data more “visible” for shareholders, linking data management to multiple business domains within the enterprise and their business partners for decisions, innovations, and creating richer business value returns. The organizational resource is limited, so information empowered management can adjust the business strategy based on predictions and measurement, take a fresh look at relevant information, processes, evaluate their management approach, and take optimized actions.

Information Management lifecycle is the overall business process of aligning the usage of information through information precision and assurance management to ensure that the information refined can collaboratively enable and fully support the business objectives, generate idea flows and streamline strategy management. Information-based prediction can be an outcome of the controllable relationships within a system. To predict is to grasp chances and manage risks. Collaborating and sharing information are what spurs innovation. Data-based prediction helps the business develop the future perspective, bring people together in a common and committed effort, move people in the right direction, inspire people to innovate and achieve innovation excellence.

Real-time information as one of the most time-sensitive pieces to unpuzzle innovation: Information is the power, running a real-time digital organization starts with providing real-time information management solutions to unpuzzle innovation and conquer dynamic digital management challenges. In practice, real-time Information Management involves the use of technologies and processes of capturing, developing, sharing, and effectively using organizational information timely, with the aim of optimizing the business value that is generated. Data-based analytics in real-time coupled with a powerful rules engine poses a challenge to the market with the prize being people centric and innovation excellent.

Information is one of the most critical pieces in the innovation puzzle. Given this assertion, there is no limit to the value of information in running a high mature digital organization. The power of information is to empower the business with real-time insight across the organization in ways never possible before. This is more imperative when uncertainty, velocity, complexity, and doubts are major hindrances to decision making. Running a real-time digital organization means high-responsiveness with speed, developing more participative models that better support the quantum leap in speed we are experiencing. The ultimate goal is to ensure such organizations keep tapping their innovation potential, have the ability to reshape innovative products, services, and customer engagement, build an environment and business systems to reap innovation fruits.

Intensify information-based customer sentiment analytics and drive customer-centric innovation: Being customer centric is the strategic priority for many forward thinking businesses in the digital era, hence, analytics needs to become the mainstream culture theme. Doing Sentimental Analytics is the means to explore what’s in customers’ minds, gain customer empathy, and take action for building a more customer-centric business. Technically, how to gain customer empathy through data-based analytics and customer sentiment analytics? There are a number of software solutions out there that are specifically devoted to customer feedback sentiment categorization and keyword analysis and so on, and it makes the most sense to have text analytics integrated entirely within a wider customer experience management solution.

There're a lot of different software and enterprise solutions out there for this purpose and analyzing customer feedback. The right tools or the combination of approaches can make customer sentiment analytics more effective. Just like any type of analytics, the key point is not technology but to generate business insight which can help you improving the customer experience and overall provide an edge over your competitors, designing and developing innovative solutions to tailor customers’ needs. No matter which analytics you apply, that's a big part of what data has to do - be transformed into actionable insight and catalyze innovation. Analytics in itself adds no value; it’s the decisions that analytics helps to make and enable drive the actual business value.

The disruptive nature of emerging digital technology and advancement of data-based analytics are highly likely to have implications for business innovation. A healthy Information Management cycle makes information available and useful, exerts lots of intelligence, captures insights, adds wind to imagination wings, but makes validation and predictability. Keep in mind, knowledge is limited, information management for its own sake goes nowhere. Humans should all have some humility and recognize the limitations of their expertise and partner them with the other experts to apply the analytical algorithms for problem-solving systematically and achieving innovation excellence consistently.

Posted in: Information/Data Management,Innovation