Management Information

Innovation Management - Rigorous data analysis


Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.

There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.

There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.

Rigorous data analysis

Problem identification is often considered the most boring aspect of creativity. But it is in fact the most crucial. If you're not working on the right problem, then you're working towards the wrong solution; all energy, time and resources are being wasted. Ideally, problem identification should occupy more time than idea generation.

Ask a group of ten people what the problem is and you are likely to get eleven answers.

Each suggestion the above group of individuals give will be valid in it's own way, but how do we really distinguish between the best and the least best answers?

The answer is to apply a rigorous standard of information analysis.

It is from rigorous data analysis that you are able to discover which of your clients provide most revenue, how each demographic responded to a marketing campaign, why your top clients didn't buy the green latest Aston Martin or why 70% of respondents thought your advertising campaign too patronising.

The above analysis yields a whole new set of problem identification answers and a higher probability that your solutions will not be misdirected.

These and other topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com/

You can also receive a regular, free newsletter by entering your email address at this site.

Kal Bishop, MBA

**********************************

You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained.

Kal Bishop is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com/


MORE RESOURCES:

MiamiHerald.com

Risk Management Needed for Energy Loan Guarantees, Report Says
Bloomberg
Potential losses from US energy loan programs are likely to be less than projected by the White House and Congress, according to an independent analysis that Democrats said validated support for clean-energy innovation. The Obama administration ordered ...
DOE needs better risk managementiWatch News
Post-Solyndra review urges better energy loan managementThe Hill (blog)

all 268 news articles »


Globe and Mail

Apollo Global Management assets lift off in 2011, up 11%
Pensions & Investments
By Arleen Jacobius Apollo Global Management on Friday reported $75.3 billion in assets under management as of Dec 31, up 11% from a year earlier, according to the alternative investment firm's earnings report. Apollo Global had $35.4 billion in private ...
Apollo Global Management, LLC Reports Financial Results for the Fourth Quarter ...MarketWatch (press release)
Financial Briefing BookWall Street Journal
Apollo Fourth-Quarter Profit Falls 66% on Market SwingsBusinessWeek
Reuters
all 48 news articles »


Business Insider

List Of Pepsi Managers Who Have Left The Company
Business Insider
It's not news that PepsiCo has suffered a lot of management churn in the last few years, and that sales of some brands have been hurt as the company has lost its focus. But it's not until you see the list of senior brand management names who have ...
PepsiCo to Cut 8700 Jobs, Reduce Management Layers in Global Productivity DriveIndustryWeek
PepsiCo Announces Strategic Investments to Drive GrowthMarketWatch (press release)
PepsiCo Cuts Jobs, Plans Culture ChangeFINS

all 590 news articles »


Kansas City Star

Vietnam Premier Urges Land Management Review, Citing Transaction Mistakes
Bloomberg
Vietnamese Prime Minister Nguyen Tan Dung has asked for a nationwide review of land management procedures and said local authorities made mistakes in a land acquisition case in the northern port city of Haiphong, according to a statement on the ...
Forced Eviction 'Illegal'Radio Free Asia

all 126 news articles »


Carrington Capital Management, American Home Mortgage Servicing Announce ...
MarketWatch (press release)
Resolution of Carrington Asset Holding, LLC, ET Al. Plaintiffs, v. American Home Mortgage Servicing, Inc., Defendant SANTA ANA, CA, Feb 10, 2012 (MARKETWIRE via COMTEX) -- Carrington Capital Management, LLC ("Carrington"), a subsidiary of Carrington ...

and more »


Advanced task managers on iOS
CNET (blog)
by Jason Parker February 10, 2012 12:00 PM PST Follow @jparkerCNET There must be hundreds, if not thousands, of to-do-list management apps in the iTunes App Store, but which one should you choose? I found a couple of new task management apps recently ...

and more »


Spend Management Experts Wins Supply & Demand Chain Executive Award
MarketWatch (press release)
ATLANTA, GA, Feb 10, 2012 (MARKETWIRE via COMTEX) -- Spend Management Experts today announced that founder and CEO John Haber has received the Supply & Demand Chain Executive's 2012 "Pros to Know" award in the provider category.

and more »


Ariz. tribe votes to take over Skywalk management
CBS News
A tribal spokesman says the Tribal Council voted Feb.7, 2012 to sever a contract with Las Vegas developer David Jin and take over management of the Skywalk. (AP Photo/The Arizona Republic, Rob Schumacher, File) MARICOPA COUNTY OUT; MAGS OUT; ...

and more »


Schultze Asset Management Founder George Schultze Delivers Key Comments in ...
MarketWatch (press release)
10, 2012 /PRNewswire via COMTEX/ -- George Schultze, Founder and Managing Member of Schultze Asset Management, LLC ("SAM"), was a key speaker today in Harvard Business School's Creating Value Through Corporate Restructuring course taught by Professor ...

and more »


Waste Management Employee Who Works Tirelessly to Save Dogs Receives Top ...
MarketWatch (press release)
10, 2012 /PRNewswire via COMTEX/ -- As part of its annual recognition of community service, Waste Management of Michigan/Ohio has selected Deanna West of Lake Orion, Michigan to receive its most prestigious community award as "Volunteer of the Year" ...

and more »

Google News

home | site map
© 2006