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By Rajiv Kumar<\/b>\nSenior Partner and Global Vice President<\/i>
\nFrost & Sullivan<\/p>\n
By Rajiv Kumar<\/b>
\nSenior Partner and Global Vice President<\/i>
\nFrost & Sullivan<\/p>\n
<\/p>\n
<\/p>\n
Among the wealth of innovation strategies and best practices shared at the event, we present some of the most useful and critical ideas from key sessions. But don\u2019t take our word for it, read on for the event take-aways that the participants applauded and are most likely to bring back to their teams.<\/p>\n
From ASK THE EXPERTS! Panel Discussion: Teaching an Old Dog New Tricks: Best Practices for Engaging Every Employee in Entrepreneurship and Innovation\u00a0<\/b><\/i> If your innovation team is lacking a certain skill, ask the functional leaders to augment with one of their team members. The key is to view innovation as a talent development opportunity that makes a conversation about resourcing easier.<\/p>\n To attract talent from various functions, hold information sessions and emphasize the benefits of participation in various innovation initiatives; career change or advancement as graduates bring newly learned skills back to their functional teams; knowledge and skills necessary to start a new business; and networking with local entrepreneurs.<\/p>\n Have top ideas go through an extensive three-month incubation process as part of the corporate accelerator. It is not uncommon for engineers who come out of the program to discover their true calling is to be on the business side and explore career opportunities in product management, for example.<\/p>\n<\/div>\n If your organization doesn\u2019t already have a Data Science Manager or Engineer, it probably will in the future.\u00a0 What are you going to do with all that data you\u2019re collecting?<\/p>\n Other key take-aways:<\/p>\n<\/div>\n How do you make data actionable and valuable? It involves intelligence, speed and leverage:<\/p>\n Intelligence:<\/u>\u00a0There are a lot of players, providing a limitless amount of tools for data services. Intelligence must equal shared risk; in other words, they need to own the outcome \u2013 intelligence needs to be delivered as a service Critical Insights to Bring Back to the Team<\/b><\/p>\n In addition to the timely insights above,\u00a0we asked the\u00a011th Annual New Product Innovation & Development: A Frost & Sullivan Executive MIndXchange<\/b>\u00a0event participants to share their most valuable strategy or insight from the event\u2014the take-away they would be most likely to share with their team. Their responses included:<\/p>\n<\/div>\n By Rajiv Kumar Senior Partner and Global Vice President Frost & Sullivan Among the wealth of innovation strategies and best practices shared at the event, we present some of the most useful and critical ideas from key sessions. But don\u2019t take our word for it, read on for the event take-aways that the […]<\/p>\n","protected":false},"author":15,"featured_media":3423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[27],"tags":[],"coauthors":[],"class_list":["post-3422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pdslog"],"yoast_head":"\n
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\nThe event\u2019s most memorable terminology: the hacker, the hipster and the hustler are the three types of people who can help companies to innovate more efficiently. Their roles:<\/p>\n\n
\nFrom CHANGE AGENT: Using Artificial Intelligence to Drive Dynamic Product Innovation<\/b><\/div>\n\u00a0<\/b>
\nArtificial Intelligence is driving product innovation \u2013 and the biggest areas that will be impacted are robotics, cyber-intelligence and hyper-personalization.Analytics will continue to play a critical role in our lives and businesses in the future.There are four kinds of data science analytics:<\/div>\n\n
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From SUCCESS STORY: Why Intelligence, Speed and Leverage are the Keys to Unlocking IoT Value\u00a0<\/b><\/div>\n\u00a0<\/b>
\nThe top 5 implications of ongoing and accelerating digital disruption are:<\/div>\n\n
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\nSpeed:<\/u>\u00a0An average company with all the predictive analytics in the world takes 12-18 months to produce a data science model. A lot can happen in 12-18 months, especially now. Best in class performance now can put a data science model in place in 2-3 days
\nLeverage:<\/u>\u00a0Shift your thinking; don\u2019t view your business as what you do, but how you do it. Businesses are made of core capabilities; you want to be able to draw on multiple verticals to be able to solve your problems<\/p>\n\n
From creating an internal organizational culture that supports innovation to leveraging and integrating technologies such as Artificial Intelligence and robotics to help drive innovation, a thorough understanding of these important trends and insights is necessary to drive not only innovation, but more importantly, transformational growth.<\/div>\n","protected":false},"excerpt":{"rendered":"