This presentation formed part of the Imperial 320 session that took place on Monday, 16 January. Title of talk: New Patterns of Innovation, How to use Data to Drive Growth In this presentation, Professor Gann will show how innovation is being transformed through the growth of data about customers, markets, cities and government. This is creating entrepreneurial opportunities to develop new products and services, stimulating new types of start-up business and social enterprise. It is disrupting and transforming the ways in which existing businesses and governments operate, intensifying competition and giving rise to new patterns of innovation. Data-rich innovation is predicated on making information available for analysis. London provides examples of how this is generating new services and business models successful tech start-ups. Prof Gann’s recent Harvard Business Review article explains why five new patterns of innovation are leading to growth: 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 The challenge is to capture, frame, analyse and interpret data to create valuable insights. Success depends upon developing the talent of data scientists: data gatherers, data modellers and data visionaries. It also requires the right conditions for entrepreneurship to flourish. For more information, please visit: https://wwwf.imperial.ac.uk/business-school/imperial-business-insights-320/ #Imperial320

1. New Patterns of Innovation
How to use Data to Drive Growth
David Gann CBE
#Imperial320

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Innovation: the process
creating value > invention, design, research, development
delivering value > market entry, commercialisation
capturing value > managing intellectual property

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Distributed Innovation
[Dodgson, Gann and Salter 2008 -The Management of Technological Innovation – OUP]
19th Century 21st Century
Corporate
Interactionbetweenparticipants
Distributed
Entrepreneurial
20th Century
Entrepreneurial Entrepreneurial
Corporate

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How are innovation processes
changing?
I-o-T. Cloud. Mobile. Data. AI. Cognitive.
Distributed. Digital. Global
Anytime. Anywhere. Anything

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 Modelling and simulation
 Visual analytics
 Data science
 Internet and social networking
Innovation Technology (IvT)
A suite of tools to support and enable innovation

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[Parmar, Mackenzie, Cohn and Gann, Harvard Business Review, January/February 2014]
New patterns of innovation
A 5-year study with IBM clients exploring a
systematic approach to business innovation,
to create value for customers using data and
analytical tools

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Pattern 1: Augmenting products to generate data
The ability to gather and analyse enormous
amounts of data

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Pattern 2: Digitizing assets
The ability to digitize physical content/assets and vice-versa

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Pattern 3: Combining data within and across industries
The ability to coordinate information and combine disparate data sets [‘Big Data’]

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Pattern 4: Trading data
The ability to buy/sell company information

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Pattern 5: Codifying a distinctive service capability
The ability to buy/sell a company's service

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Success factors
STRONG
TECHNOLOGY
PRESENCE
INPUTS FROM
EXTERNAL
PARTIES
MOTIVATED
LEADERSHIP
EMOTIONAL
COMMITMENT
TALENTED DATA
SCIENTISTS
ECOSYSTEM
FOR STARTUPS

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Talented Data Scientists
 Data Gatherer
 Data Modeller
 Data Visionaries

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Ecosystem for Start-ups
 Ideas
 Talent
 Infrastructure
 Access to markets
 Patient capital (risk)
 Ability to exit
(IPO/acquisition)

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imperial.ac.uk/white-city-campus
Prof David Gann CBE
Vice President, Innovation
Imperial College London