New Patterns of Innovation How to use Data to Drive Growth

David Gann CBE

#Imperial320

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Innovation: the process

creating value > invention, design, research, development

delivering value > market entry, commercialisation

capturing value > managing intellectual property

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Distributed Innovation

[Dodgson, Gann and Salter 2008 -The Management of Technological Innovation – OUP]

19th Century 21st Century

Corporate

Inte

rac

tio

n b

etw

ee

n p

art

icip

an

ts

Distributed

Entrepreneurial

20th Century

Entrepreneurial Entrepreneurial

Corporate

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How are innovation processes

changing?

I-o-T. Cloud. Mobile. Data. AI. Cognitive.

Distributed. Digital. Global

Anytime. Anywhere. Anything

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Modelling and simulation

Visual analytics

Data science

Internet and social networking

Innovation Technology (IvT)

A suite of tools to support and enable innovation

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[Parmar, Mackenzie, Cohn and Gann, Harvard Business Review, January/February 2014]

New patterns of innovation

A 5-year study with IBM clients exploring a

systematic approach to business innovation,

to create value for customers using data and

analytical tools

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Pattern 1: Augmenting products to generate data

The ability to gather and analyse enormous

amounts of data

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Pattern 2: Digitizing assets

The ability to digitize physical content/assets and vice-versa

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Pattern 3: Combining data within and across industries

The ability to coordinate information and combine disparate data sets [‘Big Data’]

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Pattern 4: Trading data

The ability to buy/sell company information

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Pattern 5: Codifying a distinctive service capability

The ability to buy/sell a company's service

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Success factors

STRONG

TECHNOLOGY

PRESENCE

INPUTS FROM

EXTERNAL

PARTIES

MOTIVATED

LEADERSHIP

EMOTIONAL

COMMITMENT

TALENTED DATA

SCIENTISTS

ECOSYSTEM

FOR STARTUPS

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Talented Data Scientists

Data Gatherer

Data Modeller

Data Visionaries

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Ecosystem for Start-ups

Ideas

Talent

Infrastructure

Access to markets

Patient capital (risk)

Ability to exit

(IPO/acquisition)

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imperial.ac.uk/white-city-campus

Prof David Gann CBE

Vice President, Innovation

Imperial College London