The innovation 'high road' - design thinking and data analytics
Design thinking and business analytics are two important trends in business and a symposium being held in Sydney next month will look at how they can be integrated and leveraged to help companies develop new insights and innovate.
Speakers at the Design Thinking and Business Analytics Sydney Symposium, to be hosted by the University of Technology, Sydney (UTS) on December 2, include some of the leading international and Australian thinkers in these fields. Scholars from some of the world’s leading business schools will share their expertise, as will specialists from Deloitte Australia and Commonwealth Bank of Australia.
Australian companies tend to focus on the “low road” of cost efficiency when seeking to reposition their businesses, but the seminar will look at the role of design thinking and business analytics as a more strategic “high road” to longer-term and deeper innovation.
“Businesses today are dealing with greater international competition and value chain complexity,” says Professor Roy Green, Dean of UTS Business School and co-chair of the symposium. “But these challenges are also accompanied by new opportunities to compete, not only through ‘disruptive’ technologies but also through multiple forms of non-technological innovation.”
This sort of innovation can include new business models, systems integration, “servitisation” – creating value by adding services – and high-performance work and management practices.
'These challenges are also accompanied
by new opportunities to compete'
“Increasingly, strategic management is combining the broad application of integrative and design thinking with a deepening competence in business analytics,” says co-chair Professor Mary-Anne Williams, Director of the Innovation and Enterprise Lab in the Faculty of Engineering and Information Technology at UTS – an authority in strategic, design-led and technology-enabled innovation.
Design thinking can be used to dramatically improve the outcomes of business analytics by reframing business challenges in ways that enhance the insights gained from data, Professor Williams says.
Organisations that use business analytics perform better because they are able to develop data-driven insights that inspire strategic differentiation, such as innovative services that meet the needs of highly profitable customers.
Together, design thinking and business analytics can validate new business models and generate new business and customer value. Business leaders can use design thinking and business analytics to drive strategy, innovation and entrepreneurship in their organisations.
This is happening within businesses but also in external collaborations with research and educational institutions, including through “living labs” that bring multiple parties together for open innovation.
Speakers at the symposium will include:
- Andre de Barros Teixeira, Chief R&D and Quality Officer, Goodman Fielder
- Dick Boland, Professor of Design and Innovation, Case Western Reserve University
- Rachel Bui, Communities Relations/Economist-in-Residence at muru-D
- Steven Callander, Professor of Political Economy, Stanford Graduate School of Business
- Fred Callopy, Professor of Design and Innovation, Case Western
- Mark Collis, Executive Director, Innovation Factory
- Andrew Kerr, General Manager, Information Strategy Services, Commonwealth Bank of Australia
- Mark Leung, Director, Rotman DesignWorks, University of Toronto
- Dan Lovallo, Professor of Business Strategy, University of Sydney
- Katharine McLennan, Founder, www.whatisleadership.com.au
- Christos Pitelis, Director, Cambridge Judge Business School’s Centre for Business and International Management
- Goran Roos, Chairman, VTT International Technical Research Centre of Finland
- Maureen Thurston, Principal, Design Leverage, Deloitte Australia
- Roberto Verganti, Professor of Management of Innovation, Politecnico di Milano
The Design Thinking and Business Analytics symposium is part of the Sydney Strategic Management Society (SMS) Conference scheduled for December 7 and 8. The SMS conference follows the annual Australia New Zealand Academy of Management Conference, to be hosted by UTS from December 3-5.
For further details and to register for this conference, click here.