Data-Driven Innovation

Martin Curley and Bror Salmelin
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Martin Curley: Maynooth University
Bror Salmelin: Contents and Technology, EU Commission

Chapter Chapter 12 in Open Innovation 2.0, 2018, pp 123-127 from Springer

Abstract: Abstract Big data and data-driven innovation are creating significant information monetization opportunities. Former European Research Commissioner, Maire Geogeghan Quinn, coined the phrase ‘Knowledge is the crude oil of the 21st century’ and it aptly describes the opportunity. Even this analogy is not powerful enough as data or knowledge does not get used up as it is shared or used up, as it is a non-rival good. In fact, it often multiplies. Debra Amidon, Piero Formica, and others have defined the three laws of knowledge dynamics which underpin the practice of data driven innovation.

Date: 2018
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DOI: 10.1007/978-3-319-62878-3_12

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