The Data-Inspired Innovation Model

To date numerous results on innovation research have been published, however, the literature on innovation does not offer conclusive findings and guidelines for practice. The research and practice of innovation are fragmented and centered on specific cases. The literature does not present a unified theory of innovation. Innovation in any domain could be enhanced by principles and insights from other disciplines. However, the process of identifying the linkages between the diverse disciplines and the application domain is not well understood. The innovation process and conditions triggering innovation set the stage for economic progress. The paper discusses innovation as an outcome of analysis of data performed over the entire product-life cycle. The concept of data-driven innovation is described. While some of the data is collected in routine practice, other valued pieces of information are cultivated according to the practice of data farming.