Leveraging design-driven data analytics for business innovation
PI Name: Tania Massa | Faculty/Department: Office of Research and Innovation
Adopting business analytics can become a business accelerator for SMEs. Whether internal or cloud-based, adapting technologies – customized to industry needs – will allow SMEs to explore markets and talent pools, learn how to ‘fail fast’ and recover, take appropriate risks based on analytics, and capitalize on their potential for innovation. Via this ARTP initiative, Humber’s Institute for DDA (IDDA) will serve as a unique resource where local SMEs can propel business innovation, both immediately through asking the right questions of existing data and in the longer term through customized analytics processes and commercialization possibilities. Our partners will benefit from the expertise of Humber’s faculty and students to design, develop and implement innovative technology and business solutions. They will benefit in the near-term, and they will be more resilient to future market conditions – businesses that use big data and digitization were found to be more resilient to the negative impacts of the COVID-19 pandemic (Nauck, et al., 2021). SME partners will also benefit by having access to big datasets and research databases within the academic environment that are too costly for the average SME.