Building A Culture That Thrives On Disruption.
From Data To Profit is the playbook for monetizing data and AI. Discover the essential frameworks to unlock the value trapped in your data.
Businesses cannot be innovating all the time, and a lack of innovation puts the business’s future at risk. C-level leaders need a framework to decide how much innovation the company should be working on.
Too much innovation and the business will fail to exploit its current opportunities. Too little innovation and margins will drop until the business’s current opportunities run dry.
An innovation mix helps the business to continuously transform the resources it dedicates to innovation initiatives. The mix swings like a pendulum to meet the business needs of today and the next few years.
"Implementing the right mix of innovation & near-term revenue."
Disruptors are critical for transformation. They challenge firmly held beliefs and what the business is working towards today. This mindset supports a culture of experimentation and rapid improvement. The big innovations come from the disruptor’s ability to see flawed assumptions and the implications of replacing those assumptions with new knowledge.
Cultural artifacts must be built to support disruptors. People must be incentivized to find and replace flawed assumptions. Experimental frameworks must be implemented to enable disruptors to prove or refute their ideas rapidly. Value-centric frameworks must be implemented to prevent disruptors from derailing the business with experiments that cannot be monetized.
"Fostering the disruptor's mindset to drive innovation."
Data and the business’s technical capabilities continuously transform, and that improves the quality of data available to support critical decisions. The business gathers new data and develops higher-quality models. Both introduce new information to the business. As a result, strategy planning must transform.
Strategy must be built with the best available data to avoid analysis paralysis. It must also be reevaluated when data and models improve. No decision should be considered final because there may be good reasons to change in the future.
People must be incentivized throughout the business to make decisions with their best available data and improve them as data improves. In some cases, that will lead to the business walking away from significant investments and firmly held beliefs. Transformation often requires quitting to improve.
"Incentives must enable new behaviors & adaptive decision-making."
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