How Can Big Data Be Used to Optimize Innovation Management?
Mary Roth, Research Staff Member, IBM
How can companies use the growing access to and digitization of data to better understand client needs, manage R&D portfolios, evaluate individual R&D projects, and identify and recruit talent? Historically, companies have used proprietary data to make data-driven R&D decisions. Today, companies can marry proprietary data with multiple sources of public data to better understand market opportunities. How can these data be used in a different way to shape R&D strategy? For example, how can R&D managers identify latent customer demand before customers know they demand it, as in the case of the iPhone, and use big data to advocate for an R&D project with corporate management?