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Digital Twins: what it is, how it works, and the advantages of this technology

mjvinnovation

Originally, this term was coined by Dr. Michael Grieves in 2002. The situation changed in the 2010s, with the development of IoT, Artificial Intelligence, Big Data, and Cloud Computing. First, smart components that use sensors to collect real-time data on status, working conditions, and position are integrated into a physical item.

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Innovation Insights from Jeff Bezos and Amazon

Destination Innovation

Although its sales of new books were growing very healthily, in 2002 Amazon introduced a service whereby people could sell second-hand books through the company’s website. After the dot.com crash in 2000 Amazon found itself with excess IT capacity in its data centres. It was attractively priced and scooped the market.

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Designing for Social Interaction

Boxes and Arrows

Let’s look at each type of tie, and how we might design for them. 8 In both 2002 and 2007, a study of 1,178 adults found that on average, people had about 10 friends they meet or speak with at least weekly (10 strong ties). 9 So, when we’re designing for strong ties, we’re designing for small groups of people.

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Spotting Innovation Opportunities

ITONICS

When searching for new opportunities, it basically means being able to simultaneously create ideas as part of the innovation management on the one hand and to foresee markets and potentials, called corporate foresight, on the other hand. The role of big data and data mining. How do you break it all down to a practical level?

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How China Creates the Strongest Innovation System

The BMI Lab Blog

Massive investments, a huge market and the hiring of worldwide talent has boosted the Chinese innovative ecosystem. For instance, in Q3 2017, Tencent, the Chinese Internet company that developed WeChat and QQ, overran Facebook in terms of market value. BYD became the second largest battery company in 2002.

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How to Nail Your Most Valuable Metrics Using the Customer Journey

Moves the Needle

As you can see, this journey combines awareness marketing, with product marketing, a sales funnel including conversion, and then into product engagement, and ends with "passionate", which some people include with product -- you often hear the word delight -- or is described as branding, where you hear the word "loyalty".

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Innovation Networks – Needed Now More Than Ever

The Inovo Group

A large, multinational company with several different business divisions, globally dispersed R&D and marketing operations, and a moderately hierarchical but highly matrixed reporting structure has a financial imperative to meet growth and profitability expectations. Norton & Company; May 2002. and McDermott, R.; Buchanen, M.