This presentation is a part of Analytics Internship under the guidance of Prof. Sameer Mathur.

1. INNOVATION
The New Patterns of

2. INNOVATION
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Searching new business ideas and business models.
Why Corporations struggle while adding a new business ?
• Execution focused managers ill-equipped for
out-of-the-box thinking.
• Company lacking metrics to support a new business.

3. What
To
Do ?
Tackle business innovation
systematically
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4. Competency Based Customer Based New Up-coming Market
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Traditional ways for framing the search of new ideas
How can we use our existing
assets and capabilities to
enter into new markets?
what are the unmet needs
of customer we can fulfill ?
Following mega-trends what
future business opportunities
will emerge ?

5. 5
Fourth
New
Approach
With the help of data analytics tools we own or could have access
to, how can we add value for our customers ? The approach is
based on five patterns :
Pattern 1: Augmenting Products to Generate Data
Pattern 2: Digitizing Assets
Pattern 3: Combining Data Within and Across Industries
Pattern 4: Trading Data
Pattern 5: Codifying a Distinctive Service Capability

6. 1
Augmenting
Products to
Generate Data
Using data that we are now generating(or could generate)
to
1. improve a product
2. Improve a service
3. create a new business value.
Example : Smart metering system
Rolls-Royce’s engine health management (EHM)
SKF’s intelligent bearings
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7. 2
Digitizing Assets
Digitized versions of physical assets
Example : Digitization of health records.
Reverse engineering of manufacture
industries from digitized versions.
The management of digitization itself
Digitization of purchase process.
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8. 3
Combining Data
Coordinate information across
industries or sectors in new ways
Example :
Smart cities like Rio de Janeiro, where
private utilities, transportation
companies, and city agencies
consolidate information to deal with
natural disasters more effectively.
Management of roadway congestion
caused by increased number of delivery
vans by combining delivery data and
traffic data.
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9. 4
Trading Data
Combining disparate data sets allows variety
of new offerings for adjacent businesses.
Example:
When cellphone service identifies traffic jams
and shares with navigation device company.
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10. 5
Codifying a
Distinctive Service
Capability
Take the processes company have perfected,
standardize them, and sell them to other
parties.
Example:
IBM’s Global Expense Reporting Solutions
CitiDirect BE mobile and tabs
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11. 1 1
Insights
There are five patterns, a company can focus upon while trying to uncover
new business opportunities. Each pattern consist of few questions which
can be explored to search for new business.
• What data we have or we can get ?
• How could the insights from data, provide new value to us.
• How can we use the digital nature of our assets to improve or expand ?
• How might our data be combined with data held by others to create new
value?
• How could our data be structured and analyzed to yield higher-value
information?
• Do we possess a distinctive capability that others would value?

12. 1 2
Insights
Information technology has been expanding away from its traditional
role of automating and reducing the cost of operational and managerial
processes.
IT’s becoming a stronger force in the quest for new business
opportunities.
Companies need to take systematic approach for examining these
advances, carefully considering how IT can enable not only better
products and services but also innovative business models and
platforms.

13. 1 3
Managerial Relevance
IT is expanding its role in innovation and mangers need to ensure
that they are using all the IT based resources company have(or
could have) upto their full potential.
Rather than expecting employees to come up with innovative ideas
during “innovation jam”, managers need to focus on the structured
way of innovation.
Managers need to create the environment around in which every
problem is approached systematically and inspire others to follow
the same.

14. Thank You !!