IDG Contributor Network: 5 factors that will shape data-driven innovation in 2020

The central role of data in driving innovation across many industrial sectors is now clear. No business leader can afford to ignore this trend making it imperative they understand the forces driving changes in their value chains. 2020 promises to be a challenging time for managing data-driven innovation within organizations but also a year of opportunity for those ahead of the curve. Here are 5 key factors that will help determine these challenges and opportunities over the coming 12 months.

1. Legal factors

In Europe the GDPR has started to have an impact on how firms collect and use data. The possibility of massive fines for companies that contravene the law has certainly focused minds. One of the major changes introduced by the GDPR is the requirement for organizations collecting personal data to obtain the informed consent of individuals rather than the implied consent allowed under previous legislation. A visible effect of this are the popups which appear on most websites now asking us to tick a box agreeing to the use of cookies before we can access the site’s content. 

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