Synthetic Data for Innovation Managers

Synthetic data for Innovation Managers

The Innovation Manager acts as the enabler of data-driven innovation within the organization. While achieving this goal, the Innovation Manager typically faces various pains that could potentially be solved with Synthetic Data. This blog describes the role of an innovation manager, indicates typical pains together with the gains that could be achieved with Synthetic Data.

The Innovation Managers job includes

Scout new ideas and opportunities for (future) innovation

Select and evaluate innovative ideas and opportunities

Facilitate and implement new ideas and opportunities (typically via a pilot or PoC)

Shape (3th pary) collaborations

Establish a culture for innovation

Handle the project funding process

Typical pains that Innovation Managers face

Many promising initiatives falter due to (privacy and risk) roadblocks, resulting in unrealized innoation opportunities

Time consuming (legal & risk) trajectories result in a long time-to-market

Minimal allowance to incorporate customer data in the (strategic) decision making process

Budget wasted on risk assessments from the legal & compliance department

Loss of energy from all involved parties

How could Innovation Managers gain from using Synthetic Data?

Realize data-driven innovation (for example with big data, AI, ML etc.) fast(er)

Previously untouched valuable datasets can now be transformed into valuable insights

Reduced (legal and risk) overhead costs results in more budget for actual innovations

Provide the organization with solutions to realize data-driven innovation in a privacy preservative manner

Accelerate impactful collaborations with cross-functional teams and third party vendors

Interested?

Explore the added value of Synthetic Data with us