This document discusses patterns for enhancing new business opportunities in a changing business environment. It describes five patterns: 1) augmenting products to generate data, 2) digitizing assets, 3) combining data within and across industries, 4) trading data by combining disparate data sets, and 5) codifying a distinctive service capability. The document concludes that these patterns can help managers conceive new business ideas and ways for companies to engage with the digital economy.

2. TRADITIONAL WAYS OF
FRAMING SEARCH IDEAS

3. 1. Competency Based

4. 2. Customer focused

5. 3.Changes in Business Environment

7. PATTERNS TO ENHANCE
NEW BUSSINESS

8. Pattern 1: Augmenting Products to
Generate Data
Because of advances in sensors, wireless communication
, and big data, it’s now feasible to gather and crunch
enormous amounts of data in a variety of contexts—
from wind turbines to kitchen appliances to intelligent
scalpels.

10. Pattern 2: Digitizing Assets

12. Pattern 3: Combining Data Within
and Across Industries
The science of big data, along with new IT
standards that allow enhanced data integration,
makes it possible to coordinate information
across industries or sectors in new ways.

14. 4. Trading Data
It is the ability to combine
disparate data sets allows
companies to develop a variety
of new offerings for adjacent
businesses.

15. Pattern 5: Codifying a Distinctive
Service Capability

16. MANAGERIAL RELEVANCE
The mentioned framed ideas and patterns can
be of great relevance to a manager as most
managers in the industries can conceive solid
ideas for new business or for the enhancement
of the old one. Through these patterns companies
can find ways to engage more fully with the digital
economy—and cash in on its promise.