Initiativesofanavation

Anavation (Analysis plus Innovation) is a balanced force for leading business performance excellence. Information savvy organizations are able to build business innovation strengths and capabilities, to ensure long term prosperity.

We live in a complex business ecosystem with a high degree of unpredictability, ambiguity, and increasing speed of changes. Businesses today face fiery competitions, constant disruptions, and more demanding customers.

 Information confluence means breaking down functional silos or geographical borders, streamline idea flow, analyze quality information, generate differentiated value, and build business innovation strengths and capacity.

Analytics is a multifaceted discipline that helps businesses abstract business foresight systematically: Sufficient information is fundamental to build business consciousness and run a high performance business today. Information analysis is used for different purposes, providing different results, and answering different questions. Organizations need to refrain from seeking to access, aggregate, analyze, and refine data until you are able to translate business requirements into business foresight, and guide the organization in the right direction.

Analytics should be and surely be implemented in most of the large corporations around the world. Information based hindsight enables people to understand what has happened and why. Information based foresight is to predict the likelihood of a specific outcome happening, and go further, take prescriptive analysis to act smartly. When analytics becomes part of daily business action within across-business teams, only then, it becomes the digital consciousness of an organization.

Anavation (analysis plus innovation) is a balanced force for leading business performance excellence: In a business scope, there are some of the important bits and bytes of information needed to forecast emerging trends and unpuzzling innovation. Analytics doesn’t just serve up pretty charts and graphs. Organizations develop a predicting model based on the information you have from the past and capture business insight via quality information on hand. With qualified business insights, organizations can make validation and predictability, reshape innovative products, services, and improve customer satisfaction.

Innovation efforts are sometimes complex, involving cross-disciplinary collaboration, and seamless teamwork. We must acknowledge that both analytics and creativity are crucial with many facets. Business professionals cannot be good at being analytical without creativity; or being innovative without a certain level of analytics skills. Anyone can be trained to express some level of creativity since problem solving skills are a basic element of the human toolkit. Analytical people need to apply quality information to understand issues thoroughly, look for insights, apply multidimensional thinking processes to imagine what can be done with the data, and let possible solutions emerge.

Innovation not only has a broad scope but also has deep information based intelligence and context: Business intelligence provides information on a user digestible and understandable level to generate fresh ideas, implement them by mixing the sources and forming formulas; and solving them creatively. From an innovation management perspective, identify how information is associated with the valued tangibles of businesses; products, and resources; how it triggers novel ideas. Quality information analysis through robust processes and tools enable the organization to generate winning concepts on a consistent basis and manage innovation in a structural way.

The abundant information can be refined into business foresight and customer insight that provide the very clue to connect wider dots to stimulate great ideas, build innovation competency. Technically, the key elements in systematic innovation include information, people, strategy, process, tool, and culture, missing any one of them will severely impact the sustainability of intentional innovation management effort.

Information confluence means breaking down functional silos or geographical borders to streamline data flow and idea flow. Advanced analysis enables the business to not only make profitability, but also discover hot spots of innovation, search for insights, make validation and predictability, understand customers’ needs and wants empathetically. Information savvy organizations are able to build business innovation strengths and capabilities, to ensure long term prosperity.

Posted in: Big Data,Business Intelligence,Innovation