Cultivating Growth and Radical Innovation Success in the Fourth Industrial Revolution with Big Data Analytics

Innovation is key for any organization's continued success. Some companies are more successful than others, so what are their secret formulas? The authors investigated data on innovation collected during a 52- month period (1 January 2014 to 1 May 2018) from more than 2,900 companies in 105 countries. They found that two distinct innovation strategies (incremental and radical) are widely practiced. An in-depth investigation and innovation analytics were performed on those organizations using the data collected by the InnoSurvey tool with help from licensed practitioners worldwide. It was concluded that radical innovators are better at linking organizational strategy and capabilities than incremental innovators. As the link between strategy and capability is highly correlated to financial performance [1], radical innovators, therefore, have better chances of success in future business than incremental innovators, which is a new insight, since incremental innovators are often perceived as being more stable, more mature, and more risk averse.