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Sumeet Rohatgi Elsevier Innovation Live
- 1. Sumeet Rohatgi Regional Marketing Manager (APAC) su.rohatgi@elsevier.com, +919910770642 Get the right view, faster
- 2. The Innovation Journey Innovation is an essential route to business growth. But without the right information to guide clear decision making, a timely and successful outcome is not assured. Innovative companies exceed industry averages measured on total shareholder returns* Source: BCG 2009 Senior Executive Survey
- 3. What are the biggest obstacles you face when it comes to generating a return on your investments in innovation? Innovation Begins with Challenges A risk averse culture and lengthy development times are the biggest hurdles to improving return on investment innovation spending Making Better Bets – Risk Management Time Savings Source: BCG 2009 Senior Executive Survey 29 0 5 10 15 20 25 30 Risk averse culture Lengthy development times Lack of coordination within company Difficulty selecting the right ideas to commercialize Compensation not tied to innovation results Inability to adequately measure performance Ineffective marketing & communications Insufficient support from leadership & management Not enough customer insight Not enough great ideas 27 23 22 22 21 20 20 17 17 Percentage of respondents
- 4. The Critical Front End of the Innovation Process Get on the right track early to avoid increased risk and cost $ $ $ $ $ Deliver Select Strategize /Capture Formulate Evaluate Define
- 5. Making the Right “Bet” Requires the Right Information “ Searching for meaning in the content of unstructured data is the rocket science of the digital universe.” IDC Source: IDC Whitepaper, The Diverse and Exploding Digital Universe, March 2008 Digital Information Created, Captured, Replicated Worldwide Exabytes Tenfold Growth in Five Years! 1,800 2006 0 2011 2007 2008 2009 2010 And Information overload is getting bigger
- 6. Searching for the Right Answers the Wrong Way * Source: 2008 survey from IDC Researchers spending more time looking for information than analyzing and applying it Searching and gathering information Organizing, analyzing and applying information 9.5 hours/ week 9.2 hours/ week 2008
- 10. How We Do It… Web Journal Patent Creating landscape overviews about Companies, Products, People, etc., Organizing results and presenting relevant information from billions of web pages and the worlds most trusted scientific content 3 Million full-text scientific and technical articles 36 Million scientific records 8 Billion web pages, blogs and forums 22 Million patents from 5 world-wide patent offices illumin8 “Reads” the Content from a Breadth of Sources
- 15. illumin8 is helping innovators save time and make the right bets “… It’s a valuable tool for technology landscaping. I think it really gives you a sense of what’s going on in terms of activity and distribution of activities. ” Innovation Manager, Fortune 100 Chemical Company “ iIlumin8 is set to become the Google of the innovation space.” Economist.com A new search-engine tool geared to packaging research and development could help reduce the risk of R&D investments and locate the right development targets. Packaging Strategies Magazine
Hinweis der Redaktion
- Introduction List of attendees
- Innovation is essential to business growth. BCG Study: 64% rated innovation as one of top 3 priorities essential to business growth. (paragraph 3)No surprise – Companies that innovate; outperform their peers. (paragraph 2)But without the right information guiding you towards a decision; a successful outcome is not assured.
- You have a lot of business challenges; need to get up to speed quickly in an area you’re unfamiliar with. Continuously seek new bus. Opportunities. Get to market smarter & faster. BCG study shows – lots of obstacles. However, the top 2 are risk averse culture and lengthy development times. We can’t change your culture but can increase your confidence you are making a better bet on your projects so that the risk is mitigated closer to a go/no go decision. We can also support efforts in the dev. Cycle by getting you through the UP FRONT process more effectively
- Front end process is a critical stage. A front-end decision on which projects and opportunities the company should pursue – before the company commits extensive resources to a project is critical. So choosing the right direction imperative. You want to get to the delivery stage ahead of your competition and prove the ROI of your strategy – but you want to be confident that you are getting on the right track first – to avoid an increased risk and cost later on
- However, this requires the right info. Our customers have told us that they need to explore all relevant sources of info early on; yet the information universe is exploding.
- Researchers are now spending even more time searching and gathering information. What they should be spending time on is the analyzing and applying of that information towards their projects.
- Talk here about how they are already paying for this information… This slide begins to set the stage now to get the audience thinking about how they will fund i8. They are already spending money on these things: Consultants especially are very expensive and if they could save just a portion of what they are spending on consultants it could easily fund i8. Even if i8 could make the Consultants and/or the info they provide more effective, it would have a beneficial impact on the bottom-line. These current methods they are using can be resource intensive, can take a lot of time and have unpredictable outcomes Outsell Report 2009 (March) An Outsell report in 2009 shows that your ‘colleagues’ indicate that 69% of them feel these current methods are much less valuable then ever before.
- Self explanatory – Case in point from a chemical customer: You need to be more effective at getting the information you need so that your decisions are better informed. Exploration work done up front is about trying to understand is there an unmet need, what are people doing right now to try to address the unmet need? Does you company have any technology or business that might apply to be able to meet this need? The goal when working on projects that require effective searching is to try to quickly get an answer.
- In a rapid summary overview, it presents more relevant insights, faster. The unique category of results applies almost a commercial of a technology or attribute or issue – by presenting the categories in a very simple yet powerful landscape. This enables you to start exploring new markets and technologies instead of looking for the information. You can start to analyze the results – get a sense of who and what are already involved, make connections between products and companies, etc…see trends… Use this quote from chemical company: “The way illumin8 arranges its data such as you can click on it I would say it saves you easily a half day’s worth of work doing it the way I had been doing it in the past. “ Triggers your insights and analysis to begin….
- i8 takes the first touch of all that content and reads it for you so you can focus much more quickly on the info you’re interested in… This gives you a sense of the breadth of integrated content sources of information used in illumin8. The actual product demo will be the best opportunity to really show it in action – get underneath the hood and explore what we’re doing to make the results set so unique
- Search term is Solar Shingle. ilumin8 creates a semantically indexed database of information that delivers meaning instead of just records. See relationships and benefits quickly, rather than sorting through thousands or records.
- Our customers have successfully used illumin8. Case – Technical Leader used illumin8 to determine if there is a potential for using super fruit extracts in segments they currently don’t use it for. Used illumin8 to learn about how other companies are currently using super fruits. Identify whether they could use it in a similar way. Was able to make connections between the science behind the technology and the commercial potential for it. Used his material from illumin8 to speak with the R&D units on whether they had the capability of doing this internally and provided the recommendations to the Business Development group on his assessment.
- Our customers have successfully used illumin8. Business Development Leader used illumin8 to identify the list of commercial products and companies that currently utilize a particular type of technology he was not familiar with. The business unit identified this technology as an important market space and he had to explore whether they had identified the right technology partner.
- Not only our customers like illumin8, the industry has also embraced this tool.
- Keywords- Traditional “Keyword” search tools deliver any and all records where the terms shows up… be it useful or meaningful data or not. All they can do is find a term. Entities- There are some “Text-Mining” tools that take it a step further and are fairly good at extracting “entities” – (organizations, products and more specialized terms) Solution and Relationship Extraction- illumin8 delivers even more- “Solution” and “Relationship” extraction. Now you can see a Company , that provide a Product , which employ a Technology , that solves a Problem and provides this Benefit !