All the excitement over the age of “Big Data” sometimes seems to champion numbers and raw information as the source of world-changing innovations. The thing is, data on its own does nothing. It is the people who take an insight gleaned through data and run with it through all the frustrating hurdles of the innovation process that turn a sound insight into a viable, groundbreaking application.
Innovation success requires hiring and nurturing skilled people who can access and mine data for gems; who can collaborate with others for mutual benefit; and who can muster the spark of energy, the passion, and the fortitude to drive the process from data to insights and invention to a systemic innovation or business model shift that takes hold in affecting a true, breakthrough change. This despite—and often persevering through—the inertia that will likely need to be overcome. Bleeding-edge stuff.
We live in an ever-growing ocean of data. Our networked world is a data-producing machine, and increasingly businesses and governments are recognizing the great potential for groundbreaking innovation stemming this much-championed “Big Data.” Yet, innovations do not on their own bubble out of all this information. How exactly does data drive innovation and what are the tools that enable us to harness that data?
As noted in the previous Data for Good installment, the opportunities afforded through data are unlocked by deep analysis, looking for revelations in unlikely places. This innovation challenge is daunting, but the resources available for insightful data gathering and innovation optimization have never been greater. Data-driven innovation is facilitated through:
A massive increase of digital data
The spirit of aviation soared on April 3 as industry leaders met in Washington to discuss their recent successes while placing a spotlight on pervasive headwinds.
The U.S. Chamber of Commerce Foundation held its 13th Annual Aviation Summit at the Walter E. Washington Convention Center, with hundreds of attendees getting the latest from the top executives of major airlines, manufacturers, and industry groups.
On March 4, more than 500 leaders gathered for the U.S. Chamber of Commerce Foundation and United Nations’ International Women’s Day forum held at the United Nations. This annual conference discusses the private sector’s role in economically empowering women around the world. Surprisingly, a new star arose that day: data. Across industries and sectors, speakers agreed on the complex need for data for a variety of reasons: i) to inform decision-makers on the success or failures of past initiatives, ii) to understand the needs for a group as large and diverse as women, and iii) to continue to show that there is a business case for the private sector to engage in women’s economic empowerment.