Understanding the obvious
Big Data||Data Analytics||Platform Economy||Disruption||Digital Value Chain
UNDERSTANDING THE OBVIOUS.
THAT’S THE PURPOSE OF OUR ACTIVITIES CENTERED AROUND DATA DRIVEN INNOVATION.
While it’s meanwhile common language, that both Big Data and Artificial Intelligence (AI) have at least a growing, sometimes even disruptive impact on every aspect of our society, understanding the drivers and dynamics of those transformative forces is the key to unlock the potential of the ongoing transformation.
A look at the current economic situation shows: The impact of those new technologies is striking. Today, there’s barely any industry, market, value creation process or organization, that is not affected by the impact of data & algorithms.
Although the capabilities to address, analyze and use these forces to create new business opportunities vary from company to company, the need to deal with it is unquestioned and widely accepted across all industries.
Ranging from specific users and their needs (plus their willingness to pay for new data-driven solutions) through questions of data quality and technological constraints up to measurable network effects in an existing ecosystem of customers and partners, those perspectives must be skillfully combined in order to exploit the power of any Data Driven Innovation.
Here’s our claim and aspiration: By using the DDI Framework, any organization – both profit and non-for-profit – should be able to answer the majority of questions centered around the irreversible rise of global data businesses. By transforming non-specific threads into (calculable) risks, organizations will be able to untap the full potential of data driven business opportunities and successfully manage their transition towards completely new business models and processes of value creation.
The Data-Driven Innovation (DDI) Framework systematically addresses the challenges of identifying and exploring data-driven innovations. It guides start-ups, entrepreneurs and established companies alike in scoping promising data business opportunities by analyzing both the dynamics of supply and demand.
The DDI Framework is based on a conceptual model plus empirical research. The framework describes all relevant aspects of any generic data-driven business. On the supply side the focus is on the development of new offerings. For a clearly defined value proposition, this includes identifying and accessing required data sources, as well as the analysis of underlying technologies. On the demand side the focus is on understanding the dynamics of the addressed markets and associated ecosystems. Our approach includes the development of a revenue strategy, a way forward of how to harness network effects as well as an understanding of the type of business.
As data-driven innovations are never done in isolation, identifying potential partners and a viable eco-system helps to align those both sides of supply and demand in order to achieve a competitive advantage.