Thanks so much for being a key speaker at FEI 2024, focusing on a talk about analytics for innovation. How can businesses power their innovation journey with data and analytics?
“Thank you so much for the warm welcome. I’m very excited to be leading this session on analytics for innovation,” says Sundaram. “While data and analytics are now table stakes to run a successful business, it has the potential to be much more than that, to unlock new opportunities. The range of impact is wide, and it can easily identify tactical changes, large revenue generating, or cost saving initiatives.”
She continues, “Businesses can continuously test, iterate, and improve these ideas. Again, leaning on data and analytics to quantify incremental impact and highlight areas that were successful or need improvement. In this session, we will discuss how businesses have successfully leaned on analytics to power innovation and what they have learned in the process. I would love to hear from you what your journey has been and what your learnings are as well.”
Attend FEI 2024
Looking forward to FEI 2024? The conference, which will be held June 10 to 12, will feature a session called “Analytics For Innovation,” presented by Anu Sundaram, Vice President, Business Analytics, Rue Gilt Groupe. Where are you as a business? When it comes to your data and analytics, consistent maturity is obviously a must. What does the business need? Areas for analytics work within innovation abound. Efficient, step-change innovation is possible. Divining or refining a data driven analytics strategy is the priority. Register for FEI 2024 here.
More Innovation Resources
Providing a Data-Driven Foundation to Innovation
Analytics continues to be an important element in innovation. Taking an analytical approach helps companies continually learn about their processes, models, and systems. This will help the company improve their innovation framework over time. “By implementing analytically driven insight, monitoring analytically modeled outcomes, and improving those models over time, an organization will continue to learn,” notes SAS. This learning will translate into successful innovation.
Make Insights Critical to the Innovation Process
A growing trend in innovation is to break down silos and work more collaboratively, across teams and departments. This applies to both innovation and its close proximity to such organizational groups as marketing, IT, finance and supply chain. As such, increasingly insights is tasked with supporting the product development and innovation team, giving the innovators robust and meaningful research that can help them understand consumer sentiment. This, in turn, can help guide the innovation team’s efforts in building new products and services that aim to satisfy consumer preferences, and bypass any concerns or roadblocks they may have before purchasing.
