Today, innovation does not just occur in large and incumbent R&D organizations. Instead, it often emerges from the start-up community. In the new innovation economy, the key is to quickly find pieces of innovation, some of which may already be developed. Therefore, there is the need for more advanced means of searching and identifying innovation wherever it may occurs.
We point to the importance of data-driven innovation based on digital platforms, as their footprints are growing rapidly and in sync with the shift from analogue to digital innovation workflows. This book offers companies insights on paths to business success and tools that will help them find the right route through the various options when it comes to the digital platforms where innovations may be discovered and from which value may be appropriated.
The world hungers for growth and one of the most important vehicles for growth is innovation. In light of the new digital platforms from which data-driven innovation can be extracted, major parts of analogue workflows will be substituted with digital workflows.
Data-driven innovation and digital innovation workflows are here to stay. Are you?
Table of Contents
1. Searching for accelerated growth in a data-driven world 2. Human behavior: Dealing with innovation and the unknown 3. Firms and innovation: Sources of innovation 4. Data-driven innovation might be part of the solution 5. Utilizing platforms with data-driven innovation 6. Crafting a growth strategy based on innovation 7. Heading towards a digital innovation econom Appendix A. Appendix B. Appendix C. Appendix D.
Michael Moesgaard Andersen is Adjunct Professor of Strategy and Innovation at Copenhagen Business School in Denmark. He runs his own venture-capital company, which invests in entrepreneurial tech companies dealing with AI and software-based solutions. He has previously served as the owner and CEO of a globally focused consulting business, a partner at Deloitte, and a civil servant in the Danish Ministry of Finance.
Torben Pedersen is Professor of International Business at Bocconi University in Milan, Italy. His research focuses on the interface between strategy and international management. He has published more than 100 articles and books as well as more than 25 teaching cases. In addition, he has directed a number of research projects and is one of the leaders of the Manufacturing Academy of Denmark. He is Fellow of the Academy of International Business, the European International Business Academy, and the Strategic Management Society.
"Will big data, AI, and network externalities result in the growing dominance of a handful of technology monopolists led by Alphabet, Apple, Amazon, Alibaba and Tencent? Andersen and Pedersen offer an alternative vision: start-ups and smaller firms revitalizing economic performance through embracing new digital workflows, cloud computing, software-as-a-service, and multi-user platforms to deliver data-driven innovation".
Robert M. Grant, Emeritus professor of management, Bocconi University
"Invincible companies need to continuously reinvent themselves in a systematic and repeatable manner. This book highlights how data-driven innovation can help fuel your innovation pipeline with start-ups in the field of new digital platforms".
Alexander Osterwalder, Dr., inventor of the Business Model Canvas, and founder of Strategyzer
"The world desperately needs more innovation and entrepreneurship, both to solve its pressing problems and to achieve broadly shared economic growth and prosperity. The insights contained in Data-Driven Innovation can help entrepreneurs and those who want to support and partner with them to identify the start-ups with the highest potential to blitzscale their way to global impact. Readers will learn how to innovate or acquire innovation more quickly, and with a much higher hit-rate."
Chris Yeh is the co-founder of Global Scaling Academy and founder of Blitzscaling Ventures
"Data-Driven Innovation is a thorough and practical guide for executives everywhere, as they seek to get to grips with the opportunities afforded by the digital revolution. Michael Andersen and Torben Pedersen bring a unique combination of practice experience and academic insight to tackle this hugely important issue."
Julian Birkinshaw, Professor of Strategy & Entrepreneurship, London Business School
"Over the last 10 years, I have gone from being somewhat sceptical of some elements of the data-driven innovation concept as described in this book to being extremely enthusiastic. It is highly recommended."
Lars Tvede, venture capitalist, serial entrepreneur and author of 14 books.
"The data-driven economy is here to stay - and it has a profound impact on how we design innovation strategies and how we are able to engage in innovation activities. Here's an indispensable and innovative guide not only for R&D managers but everyone who is engaged in innovation!"
Marc Gruber, Professor for Entrepreneurship & Technology Commercialization, VP Innovation at the Swiss Federal Institute of Technology, Lausanne.