Innovationbyanalytics

It's an interesting personalized world emerging ahead of us, analytics becoming a decision discipline and innovation engine to pursue high performance in high mature intelligent enterprises.

Innovation is to "make meaningful connections," and it can be delivered in many different ways. Organizations define what innovation means to them and how they choose or need to deliver. Business leaders today should learn how to walk the innovation talk and manage innovation in a structural way. 

We live in the era with information abundance, there are some critical pieces of information needed for accelerating idea validation such as facts about business ideas, benefits and shortcomings, applications, etc. The effective information management enables the business to build dynamic innovation capability for idea creation, selection, prioritization and improve the success rate of innovation management.

Innovation & Predictive Analytics: Information is the power, running a real-time digital organization starts with providing real-time information management solutions to unpuzzle innovation. There are many areas within a company where the innovation process can be applied to create value, information is the very clue that provides insight upon innovation hot spots. Information based analytics helps the business management grasp growth opportunities and prevent risks, and improve the success rate of idea implementation. To predict and respond to the emergent business properties and make information more “visible” for shareholders, linking data management to multiple business domains within the enterprise and their business partners for decisions, connect wider dots across the management disciplines to spur information intensive innovations for conquering digital management challenges.

In the hyperconnected and interdependent world, collaborating and information sharing are what spurs innovation. 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. Predictive analytics enables the business to develop the future perspective, shape futuristic viewpoint, bring people together in a common and committed effort, move people in the right direction, inspire people to innovate and achieve innovation excellence.

Innovation & Talent Analytics: People are the center of innovation. Now with information-based analytical intelligence capabilities combined with social pulse and technical methodologies, the organization has more visibility of people's sentiments and can work to make a motivating environment to unleash creative potential of their people, increase employee values and improve organizational innovation and performance. This is very critical for the individual as well as the firm to maximize the growth of the employee at the same time improving the profitability of the firm.

It is very important to build a culture of growth and innovation. The information based talent analytics has a great role to play in talent retention and growth, enhancing a healthy cycle of feedback-feedforward, as well as how to build an innovative workforce. Innovative organizations are using people analytics tools to spot and grow varying innovation personas, source and manage ideas and refine current products or services, to manage different types of innovation in a systematic way.

Innovation & Customer Sentimental Analytics: In face of fierce competitions and rapidly changing marketing conditions, businesses become more interconnected and interdependent with its macro-environment by engaging in conversation with employees, partners, customers, community group, and industry expertise. Without customers, businesses can barely survive. Technically, how to gain customer empathy through data-based analytics and customer sentiment analytics? Innovative organizations are using sentimental analysis to explore what’s in customers’ minds, gain customer empathy, how to delight them, to nurture new ideas and refine current products or services, to manage innovation and take actions for building a more customer-centric business.

Advanced social analytics allows the organization to collect feedback, analyze context and quickly draw an inference from unstructured social media or enterprise data and convert them into actionable customer insight. There are a number of technical solutions out there that are specifically devoted to customer feedback, sentiment categorization and keyword analysis, providing inputs on customer preference, predicting the future trend, and capturing collective wisdom. It makes the most sense to have customer sentiment analytics integrated entirely within a wider customer experience management solution.

It's an interesting personalized world emerging ahead of us, analytics becoming a decision discipline and innovation engine to pursue high performance in high mature intelligent enterprises. Still, analytics is meant to the end, forethoughtful business leaders show enthusiasm and confidence about the information potential for shaping the future of the business by improving decision effectiveness, strategic agility, risk intelligence, innovation and overall business competency.

Posted in: All about Future,Big Data,Business Intelligence,Innovation