Data-Driven Innovation: Why the Data-Driven Model Will Be Key to Future Success

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?

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.