Digital innovation is associated with the use of advanced technologies such as digital twins, industry 4.0, AI such as machine learning and deep learning (ML/DL), natural language processing (NLP) and many others. As proof, about fifty Canadian government programs require the use of these technologies to grant funds.
Any process that is improved using or not using these technologies constitutes an innovation for an organization. We are therefore seeing the emergence of incremental innovations, architectural innovations (redesign of process and data), and radical and even disruptive innovations.
In order to innovate, one must create a data strategy that includes the mandate to innovate, and this strategy must include all types of innovation. Yet, we see that very often organizations modernize their data environments by moving them to the cloud, but very few organizations have a roadmap to innovate at scale and for all types of innovations. This is unfortunately the norm and not surprising. How many organizations have innovation performance metrics to measure it first and then manage it?
So, if you want to innovate you need to set up a proper data strategy, change the culture of your company, and create key performance indicators (KPI’s).