In this week’s thought leadership roundup, we take a look at how innovation comes from everywhere, why partnerships are critical to success, and the crucial difference between business disruption and optimization.
Maynard Webb: Innovation Will Come From Everywhere
From the Wall Street Journal:
“The rise of new tech hotbeds in places like New York City and lesser-known Provo, Utah doesn’t mean the demise of existing ones. It’s not a zero-sum game. Silicon Valley is not waning; it’s getting better and stronger every day.
This trend of seeing innovation everywhere is not being dictated by changing geographies. In fact it has more to do with the Web untethering us from geography. The real driving factor for the rise in innovation is economics. It’s easier than ever to start a business because it’s less expensive to do so and there is more “friendly” money available than ever.
Not only is there more early-stage angel money, but new models like crowdfunding enable more ideas to actually get off the ground. Investing is happening by the masses and it’s bigger than we could have predicted.”
Our take: One of the most amazing opportunities we’re seeing as a result of advancing technology is how the world is simultaneously shrinking and becoming far, far more interconnected than seems possible. But of course, shifting from a localized perspective to a global one — e.g., reaching beyond your specific company, industry, or region for collaborative efforts and innovation — can be challenging, overwhelming, and time-consuming. Thankfully, the very technology that opens this worldwide door also enables us to develop scalable networks and initiatives.
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Partner To Prosper — Advice From 5 Collaborative CMOs
From Forbes:
“Marketing has always been a team sport. But astute marketing leaders are finding innovative ways to forge partnerships to enhance their businesses’ success…
In a world where marketers should be thinking about connecting with individuals and not just audiences, the data and applications needed to build those personalized connections require the support of an IT organization. Using data to monitor real-time trends and conversations can also help marketers proactively capitalize on key trends or mitigate looming issues.”
Our take: Who better to go to for advice than experienced execs who’ve seen their fair share of both successes and failures? The partnership tips in this piece are invaluable, and are totally in line with the way most industries are swiftly heading.
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Big Data-Driven Innovation: Disruption vs. Optimization
From Wired:
“Analyzing the information at our disposal, of course, can help any organization deal better with change through a straightforward optimization process. Gather data on anything you’re doing, crunch the numbers, and make recommendations on what to adjust to make the process better. After all, such analysis has been the primary purpose of business information since early managers crawled out from their cave and held the first punch card up to the wan light of morning.
Data analytics in support of human decision making, however, has one flaw — the human. This weak link in the data-driven agility chain becomes apparent as we move to Big Data: as the data grow so too do the results of the analyses, and yet people have a limited attention span and with it, the ability to process information. It doesn’t matter how wonderful the reports your newfangled Big Data tool generate if no one has the time or predilection to read them — or even worse, understand them.”
Our take: An old point, but a necessary one — fancy tools and platforms are utterly meaningless unless you have the programs and people in place necessary to operate and leverage them. Investing in personnel is far more important than repeatedly adopting tools you don’t have the resources to implement properly.
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