1. Market Research

Technology Solutions to Innovation Management Challenges(Technical Insights) : Leveraging Technology Platforms for Improving the Innovation Management Process

  • December 2014
  • 52 pages
  • Frost & Sullivan
Report ID: 2604045

Summary

Table of Contents

Research Outline

This research service gives an elaborate account of how platform technologies and proprietary innovations arising out of those could be leveraged toward management of innovations. As part of the content, two significant aspects related to innovation management are discussed.
•The research expands to provide perspectives on how technology enablement of innovation trends can bring in significant impact to various innovation management phases.
•The research service also provides brief case studies on how such technology enablement transforms the innovation models.

Key Solutions

Technology: Big data, Visualization, Predictive analysis

Impact/Uniqueness: These solutions implement hierarchical clustering algorithms to predict changes in data sets. This enables easier identification of metrics and KPIs for analysis. The integrated visualization platform speeds-up the process of deriving predictions and metrics from large and wide data sets and variables. This enables users to set clear metrics for evaluation of their innovation development process.

Technology: Predictive analysis and cloud computing
Impact/Uniqueness: These solutions use cloud technology to enable easy access and storage. These solutions implement hierarchical thematic algorithms to analyze the huge amounts of data by breaking into smaller groups and later consolidate the end result to derive predictive insights. This reduces the time lag and helps users to take faster decisions.

Technology: Cloud computing
Impact/Uniqueness: These solutions utilize cloud computing for enabling easy access to multiple data sources. Implementation of cloud has increased the number of sources from which data can be derived and enables deeper insight.

Technology: In-memory computing,
Impact/Uniqueness: These solutions have implemented in-memory computing technology for replicating and storing data from varied sources. The technology enables real-time analysis allowing companies to alter there course of action based on inputs derived. This is expected to be very effective in risk assessment and other financial decision making. This is mainly because the input data varies widely based on time factor.

Technology: Virtualization & Visualization
Impact/Uniqueness: In order to derive analytical insights these solution uses dashboards which run on Data Virtualization . The convergence provides better storage and faster real-time analysis. It is expected that such solutions will be used in finance sector for identifying patterns for new product/service development.

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