In this episode of Innovation Talks, we dive into the intricate world of data-driven innovation. I have the pleasure of speaking with Krishnan Venkata, who sheds light on the potential value of mining various data sources, from research and development to consumer feedback. We explore how harnessing both internal and external data, including insights from the web like blogs and forums, can revolutionize the way companies understand and respond to consumer preferences.
Krishnan Venkata is the Chief Client Officer at Latent View Analytics, a firm dedicated to maximizing the value of data for decision-making. With a background in technology and knowledge services, Krishnan advises early-stage tech companies on growth strategies. Originally hailing from India and currently based in Seattle, Washington, Krishnan brings an international perspective to the conversation. His journey from a small startup to leading a team of 1500 at Latent View Analytics speaks volumes about his commitment to leveraging analytics for innovation.
""Mining external data sources like blogs, forums, and reviews is essential to understand and anticipate consumer preferences." ~ Krishnan Venkata
Today on Innovation Talks:
- The value of mining diverse data sources: Learn how data from R&D, patents, chemical formulations, and consumer feedback can provide unique insights.
- Importance of external data: Discover how blogs, forums, and online reviews reveal consumer preferences and trends.
- Recognizing the challenge of data silos: Understand why data being confined within departmental boundaries hampers actionable insights.
- Actionable insights in practice: Real-world examples highlight the importance of taking steps based on predictive insights, such as managing inventory.
- Generative AI for insights: Explore how AI can generate and alert you to potential decisions, starting with moderate accuracy and improving over time.
- Identifying AI use cases: Address the struggle organizations face in pinpointing where AI can truly add value.
- Overcoming the fear of failure: Recognize the necessity of experimentation and the readiness to fail fast, learning along the way.
- Collaboration and data sharing: Grasp the shift towards collaborative innovation and the mutual trust required for data sharing within supply chains.
Contact Krishnan:
Resources Mentioned:
“Smart Innovation” Platform: A tool by Latent View Analytics that helps predict and leverage market trends.
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