Innovation commercialization involves so many moving parts, as we’ve discussed previously (links 1 and 2 below). Markets are hugely important for commercialization success.
So far, so good. But how much should you wrestle with data in 2023? And why?
In 2023, data is crucial for early stage innovation
For very early stage innovation, selecting a market can be difficult. You can go in so many different directions - which one should you pick? The problem is the same whether you want to partner with an existing company, make an investment or start a new company.
Where to start?
Start with market data to:
Understand all aspects of your chosen industry and market
Uncover nuances in industry trends
Last but not least - make a truly informed decision
But not all market data is created equal. You need industry analytics, that can help you ask better questions - and so get the best answers.
Check out some example images from one of our data dashboards below, which shows both the power of industry analytics and the danger of relying on raw data. In our dashboard, we go from a large amount of unanalyzed company financial data to market analytics, showing the trends for specific industries.
From raw data to real insights - that’s what you need to make an informed market selection decision.
We focused the data shown to one particular aspect of the story - the software industry. Software has many applications, so we sorted the data by type of application. Now you can actually see software trends.
Interested in an interactive demo?
We can help you rocket your early stage innovation to a licensing deal!
Schedule with me, D’vorah Graeser, and I’ll answer all your questions.
You can see the full dashboard here. For the images in this blog post - in the top view, we showed all stocks except for Berkshire-Hathaway (Warren Buffett’s company) as its value alone would swamp the rest of the data. The general industry designation as software comes from Yahoo Finance (see link 3 below). The specific industry categories come from our own AI analysis (see link 4 below for more information).