Kodak was a really great company for over 100 years and went bankrupt. Apple was almost bankrupt in 1996 and is now one of the most valuable companies in the world. Why?
A number of converging technologies have started a data revolution in which data is rapidly becoming the most valuable asset for businesses. These technologies include: Social Networks, the “Always On” Mobile Platform, the Internet of Things, Big Data and Cloud Computing.
Recent academic research shows that data driven companies have higher productivity and profitability than their non-data driven peers. Of particular importance to becoming data driven is to understand the impact of the data revolution on innovation.
The business model is the most important component of a company’s strategy. Various approaches to business model innovation are practiced, but most companies still struggle to escape from their historical business model and lose ground to innovative new entrants.