sumeet rohatgi elsevier innovation live
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Sumeet Rohatgi Elsevier Innovation LiveTRANSCRIPT
Sumeet Rohatgi
Regional Marketing Manager (APAC)
[email protected], +919910770642
Get the right view, faster
The Innovation Journey
Innovation is an essential route to business growth.
But without the right information to guide clear decision making, a timely and successful outcome is not assured.
Innovative companies exceed industry averages measured on total shareholder returns*
Source: BCG 2009 Senior Executive Survey 2
What are the biggest obstacles you face when it comes to generating a return on your investments in innovation?
Innovation Begins with Challenges
A risk averse culture and lengthy development times are the biggest hurdles to improving return on investment innovation spending
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0 5 10 15 20 25 30
Risk averse culture
Lengthy development times
Lack of coordination within company
Difficulty selecting the right ideas to commercialize
Compensation not tied to innovation results
Inability to adequately measure performance
Ineffective marketing & communications
Insufficient support from leadership & management
Not enough customer insight
Not enough great ideas
27
23
22
22
21
20
20
17
17
Percentage of respondents
Making Better Bets – Risk Management
Time Savings
Source: BCG 2009 Senior Executive Survey 3
The Critical Front End of the Innovation ProcessGet on the right track early to avoid increased risk and cost
DeliverSelectStrategize /Capture Formulate Evaluate Define
$$ $$$$$$ $$
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Making the Right “Bet” Requires the Right Information
“ Searching for meaning in the content of unstructured data is the rocket science of the digital universe.”
IDC
Source: IDC Whitepaper, The Diverse and Exploding Digital Universe, March 2008
Digital Information Created, Captured, Replicated Worldwide
Exabytes
Tenfold Growthin Five Years!
1,800
2006
0
20112007 2008 2009 2010
And Information overload is getting bigger
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* Source: 2008 survey from IDC
Researchers spending more time looking for information than analyzing and applying it
Searchingand gathering information
Organizing, analyzing and applying information
9.5 hours/ week
9.2 hours/ week
2008
Searching for the Right Answers the Wrong Way
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How are you currently searching… finding information?
You’re Already Spending Money
• Tradeshows
• Journals
• Consulting
• Networking
• General & specialized search
• Difficulty identifying relevant information
• Takes weeks or months to complete
• Resource intensive
• Expensive
• Unpredictable results
Current methods… …And their implications
In a lot of different areas
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What if You Could be More Effective at Scoping Opportunities
Telescope
• Quickly explore and understand new markets and areas to assess commercial opportunities
• Effectively find people, companies and organizations for potential partners, suppliers or alliances
• See new ideas and uses for technologies from places you never would have thought to look before
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illumin8 Does That For You
Organizes and presents more relevant insights, faster
• Rapid summary
• Unique category of results
• Visually compelling landscape
Confidently explore new markets and technologies9
Web Journal Patent
Creating landscape overviews about Companies, Products, People, etc.,
Organizing results and presenting relevant information from billions of web pages and the
worlds most trusted scientific content
How We Do It…
3 Million full-text scientific and technical articles
36 Million scientific records
8 Billion web pages, blogs and forums
22 Million patents from 5 world-wide patent offices
illumin8 “Reads” the Content from a Breadth of Sources
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Chemical Company Identifies Technology Partner
“illumin8 brought everythingtogether instead of having to
search [other resources first].”
“There are usually companiesout there doing things you may not
know about it. [The illumin8 overview of results] shows you
names that you [don’t realize] you are looking for. For our business, sometimes it is easier to acquire
than develop internally, so ifsomeone is out there developing
something that you need; you want to know it.”
New Business Development Leader, Fortune 100, Chemical Company
• Business Opportunity: Enter the emerging market for solar shingles or
Building Integrated Photovoltaic (BIPV) solutions for residential applications
• Research Challenge: Who are potential technology partners? What products are on
the market already?
Solution: illumin8• Creates list of companies already involved in the space
• Identifies experts to speak with • Provides list of commercial products using the technology
• Helps build knowledge of the market space• Export results and share findings with team
Results: Created strategy to engage with technology partner; results from illumin8 gave confidence they could provide a unique
value • Information from illumin8 helps with recommendation pursue or
stop opportunity
• Use insights from findings to put together a strategy of how to penetrate the market
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Finding Meaningful Relationships for You
Patents
Full TextInternet
• x created y,
• x is invented y,
• x sells y,
• x reduces y
Searching on relationships like:
illumin8 indexof semantic extractions
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Consumer Packaged Goods Company explores new market
“[illumin8] gets the information in a short period of time. I can start to see trends and understand what’s going on in this space quicker than going through other tools.”
“Allows me to connect the dots and see market trends whichincreases my level of productivity and [allows me to]make decisions faster.”
Technical LeaderFortune 50, Consumer Packaged Goods Company
• Business Opportunity: To enteran adjacent market with existingproduct component
• Research Challenge: What is the potential for super fruit extracts in other segments?
Solution: illumin8• Immediately see general landscape with category of
results• Quickly identify applications of technology in adjacent
industries • Easy filter by companies and people for further
investigation• Link directly to external studies
Results: Made business appropriaterecommendation on commercial potential for new segment
• Able to connect the dots between the science and commercial applications
• Gather insights you normally wouldn’t get in other ways• Increase productivity and get better input for decisions
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Chemical Company Identifies Technology Supplier
“illumin8 brought everythingtogether instead of having tosearch [other resources first].”
“There are usually companiesout there doing things you may not know about it. [The illumin8 overview of results] shows younames that you [don’t realize] you are looking for. For our business, sometimes it is easier to acquire than develop internally, so ifsomeone is out there developing something that you need; you want to know it.”
New Business Development Leader, Fortune 100, Chemical Company
• Business Opportunity: Increase market share by launching new product using 3rd party technology
• Research Challenge: Who is the best technology partner? Are our competitors using the technology now?
Solution: illumin8• Provides list of commercial products using the technology• Creates list of companies already involved in the space• Identifies experts to speak with • Helps build knowledge of the market space• Export results and share findings with team
Results: Created strategy to engage with technology partner; results from illumin8 gave confidence they could provide a unique value
• Information from illumin8 helps with recommendation pursue or stop opportunity
• Use insights from findings to put together a strategy of how to penetrate the market
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illumin8 is helping innovators save time and make the right bets
A new search-engine tool geared to packaging research and development could help reduce the risk of R&D investments and locate the right development targets.
Packaging Strategies Magazine
“… It’s a valuable tool for technology landscaping. I think it really gives you a sense of what’s going on in terms of activity and distribution of activities.”
Innovation Manager, Fortune 100 Chemical Company
“iIlumin8 is set to become the Google of the innovation space.”
Economist.com
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Research tools play unique roles in the innovation process
DeliverSelectStrategize /Capture Formulate Evaluate Define
2. Go directly to full text content
1. Start with illumin8 to scope and assess commercial opportunity
2. Use A&I databases to get a deeper view of the research output and track author citations
Other
3. Read full text content - journal, patent, society publication - to get all essential details
Challenge: Who are potential technology partners to help enter new market?
Deep review of key articles confirms partners’ solution provides unique value add that is not available via in-house R&D group.
Scopus search tracks key expert’s work and validates potential references or partners using analysis such as citation trackers and H-index indicators
illumin8 search identifies list of companies and people who are involved or have commercial products in a technology space; helping to build knowledge of the market opportunity and sets stage on who to speak with.
Solution: Made recommendation to business unit on best technology partner to engage
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Keywords and Entities vs. Solution and Relationship Extraction
Keywords
Keyword Search ToolsCarrier’s Infinity™ Air Purifier uses ultraviolet light to eliminate germs such as viruses, molds, bacteria, mildew and mold spores from the indoor air of homes and offices, ensuring a higher indoor air quality.
•Organizations (1)•Products (1)
•Technology Terms (1)
Entities (3)
Keywords
Solutions (3) - Organization (1)
- Product (1) - Technology (1)
Keywords
Benefit (1)
Problems (6)
- Materials (6)
i8 = Solution & Relationship ExtractionCarrier’s Infinity™ Air Purifier uses ultraviolet light to eliminate germs such as viruses, molds, bacteria, mildew and mold spores from the indoor air of homes and offices, ensuring a higher indoor air quality
Text Mining ToolsCarrier’s Infinity™ Air Purifier uses ultraviolet light to eliminate germs such as viruses, molds, bacteria, mildew and mold spores from the indoor air of homes and offices, ensuring a higher indoor air quality.
Extracted Information
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•Save time searching and spend more time analyzing and applying
•Discover ideas and new uses for technologies that you might not have found otherwise
•Make connections between science, technology, experts and companies to support your business decisions
Get the Right View with illumin8
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