9Lenses attended Innovation Enterprise’s Chief Innovation Officer Summit earlier this month in London. Edwin Miller (Founder/CEO) and Nathan Hall (Product Manager and Data Scientist), had the pleasure of interacting with leaders who represented some of the world’s most innovative companies. Here’s a video Edwin presenting at the event on “Transforming the Way you Discover Organizational Insights”
Innovation = Value-prop force multiplier
- Innovation force multiplies the value-proposition. (Not just how many people gain value but also increases and/or finds new ways in how they can value where they did not otherwise have value).
- Innovation adds value to the value-prop
- Innovation is the balance between accelerating and braking.
- Basically innovation should be a balance between risk and caution.
Platformification applies to innovation
- Innovation is only possible on the enterprise level with an “Innovation Platform”. Some sort of tool that connects all the complex parts of a business and simplifies finding solutions to the enterprise level problems.
This is why the best innovators don’t get caught up in the hype of discovery trends. They are more interested with the things like the value added to people than using big data.
- Innovation Recognizes Patterns by CONNECTING THE DATA
Innovation achieves this by having good data as a requirement and simplifying enterprise problems in an innovative platform and scaling it as well. It draw connections between quantitative data with qualitative data and vice versa by actually listening to people and realizing that they drive the value proposition and will be the ultimate judge or value props, not computers or excel tables.
- Innovation Happens when there is top-down buy-in to bottom-up solutions. This doesn’t mean there has to be an innovative culture to drive these solutions. If that were the case, traditional businesses would be left in the wake of new innovative culture driven companies. Rather what is more accurate is that some industries/value propositions require innovative cultures and some industries/value propositions require only some innovators with top-down buy-in. In either case, the innovative platform can increase the scale, scope, sustainability, and quality of any companies value-prop.
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Passion Is Needed – Innovation is human, that is why big data will never accomplish innovation on its own… passionate people using big data innovate.
Innovators are the people who are passionate about what they do at a company. A successful innovator cannot be dispassionate.
What’s your ROK? Do open innovation programs find these people and give you the best return on the knowledge that is in your company?
Who in your company is passionate about your value-prop? Who is being held back without enough top-down buy-in? Who is already innovating and what does the customer think about it? What are the value-prop opportunities your company is passing by? These are the measures of how much of a return a company is getting on the knowledge that is already possessed within its employees. And in large enterprises, the answers to these questions can only be collected in an applicable and scalable way, with software.
Innovators needed, platforms can find these people, and find and when platforms find and connect the data for innovators value-prop impact happens.
Innovation is the number one problem affecting businesses today because the more the company becomes removed through quantitative data and scaling/growing in new markets/industries the more innovators will be needed to keep the competition of value-prop alive.
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