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Imagine a world in which the search for tomorrow's trends of (software) products is not subject to a long and laborious data search but is possible with a single mouse click. Through the use of artificial intelligence (AI), this reality is made possible and is to be further advanced through research. The study therefore aims to provide an initial overview of the young research field. Based on research, expert interviews, company and student surveys, current application possibilities of AI in the innovation process (defined as Smart Innovation), existing challenges that slow down the further development are discussed in more detail and future application possibilities are presented. Finally, a recommendation for action is made for business, politics and science to help overcome the current obstacles together and thus drive the future of Smart Innovation.
Imagine a world in which the search for tomorrow's trends is not subject to a long and laborious data search but is possible with a single mouse click. Through the use of artificial intelligence (AI), this reality is made possible and is to be further advanced through research. The study therefore aims to provide an initial overview of the young research field. Based on research, expert interviews, company and student surveys, current application possibilities of AI in the innovation process (defined as Smart Innovation), existing challenges that slow down the further development are discussed in more detail and future application possibilities are presented. Finally, a recommendation for action is made for business, politics and science to help overcome the current obstacles together and thus drive the future of Smart Innovation.
Prior to the introduction of AI-based forecast models in the procurement department of an industrial retail company, we assessed the digital skills of the procurement employees and surveyed their attitudes toward a new digital technology. The aim of the survey was to ascertain important contextual factors which are likely to influence the acceptance and the successful use of the new forecast tool. What we find is that the digital skills of the employees show an intermediate level and that their attitudes toward key aspects of new digital technologies are largely positive. Thus, the conditions for high acceptance and the successful use of the models are good, as evidenced by the high intention of the procurement staff to use the models. In line with previous research, we find that the perceived usefulness of a new technology and the perceived ease of use are significant drivers of the willingness to use the new forecast tool.
Forecasting demand is challenging. Various products exhibit different demand patterns. While demand may be constant and regular for one product, it may be sporadic for another, as well as when demand occurs, it may fluctuate significantly. Forecasting errors are costly and result in obsolete inventory or unsatisfied demand. Methods from statistics, machine learning, and deep learning have been used to predict such demand patterns. Nevertheless, it is not clear for what demand pattern, which algorithm would achieve the best forecast. Therefore, even today a large number of models are used to forecast on a test period. The model with the best result on the test period is used for the actual forecast. This approach is computationally and time intensive and, in most cases, uneconomical. In our paper we show the possibility to use a machine learning classification algorithm, which predicts the best possible model based on the characteristics of a time series. The approach was developed and evaluated on a dataset from a B2B-technical-retailer. The machine learning classification algorithm achieves a mean ROC-AUC of 89%, which emphasizes the skill of the model.
Forecasting demand is challenging. Various products exhibit different demand patterns. While demand may be constant and regular for one product, it may be sporadic for another, as well as when demand occurs, it may fluctuate significantly. Forecasting errors are costly and result in obsolete inventory or unsatisfied demand. Methods from statistics, machine learning, and deep learning have been used to predict such demand patterns. Nevertheless, it is not clear for what demand pattern, which algorithm would achieve the best forecast. Therefore, even today a large number of models are used to forecast on a test period. The model with the best result on the test period is used for the actual forecast. This approach is computationally and time intensive and, in most cases, uneconomical. In our paper we show the possibility to use a machine learning classification algorithm, which predicts the best possible model based on the characteristics of a time series. The approach was developed and evaluated on a dataset from a B2B-technical-retailer. The machine learning classification algorithm achieves a mean ROC-AUC of 89%, which emphasizes the skill of the model.
So-called cloud-based management information systems are a fairly new phenomenon in management accounting in recent years. Quite a few companies (and especially their business managers and management accountants) do not always work via the cloud, but with hybrid solutions or on-premise solutions of ERP software such as SAP or Oracle, but often still with "manual" solutions such as Microsoft Excel.
This paper takes a holistic view on an IP-traceability process in interorganizational R&D projects, as a particular Open innovation mode, aiming at showing different technologies which can be used in the front and backend of a traceability process and discussing these technologies in terms of their suitability for data from creativity processes in these projects. To achieve this goal a two-stage literature review on different technologies in the context of traceability was conducted. Then, criteria were derived from the characteristics of data from creativity processes and of interorganizational R&D projects, with which the resulting technologies were discussed. At the end, recommendations regarding suitable technologies for tracing individual creativity artifacts in interorganizational R&D projects were given.
Forecasting intermittent and lumpy demand is challenging. Demand occurs only sporadically and, when it does, it can vary considerably. Forecast errors are costly, resulting in obsolescent stock or unmet demand. Methods from statistics, machine learning and deep learning have been used to predict such demand patterns. Traditional accuracy metrics are often employed to evaluate the forecasts, however these come with major drawbacks such as not taking horizontal and vertical shifts over the forecasting horizon into account, or indeed stock-keeping or opportunity costs. This results in a disadvantageous selection of methods in the context of intermittent and lumpy demand forecasts. In our study, we compare methods from statistics, machine learning and deep learning by applying a novel metric called Stock-keeping-oriented Prediction Error Costs (SPEC), which overcomes the drawbacks associated with traditional metrics. Taking the SPEC metric into account, the Croston algorithm achieves the best result, just ahead of a Long Short-Term Memory Neural Network.
Digitalization increases the pressure for companies to innovate. While current research on digital transformation mostly focuses on technological and management aspects, less attention has been paid to organizational culture and its influence on digital innovations. The purpose of this paper is to identify the characteristics of organizational culture that foster digital innovations. Based on a systematic literature review on three scholarly databases, we initially found 778 articles that were then narrowed down to a total number of 23 relevant articles through a methodical approach. After analyzing these articles, we determine nine characteristics of organizational culture that foster digital innovations: corporate entrepreneurship, digital awareness and necessity of innovations, digital skills and resources, ecosystem orientation, employee participation, agility and organizational structures, error culture and risk-taking, internal knowledge sharing and collaboration, customer and market orientation as well as open-mindedness and willingness to learn.
By 2019, Germany-based Kärcher, “the world’s leading provider of cleaning technology,” had turned its professional cleaning devices into IoT products. The data generated by these IoT-connected cleaning devices formed a key ingredient in the company’s ongoing strategic shift in its B2B business: Kärcher was transforming from a seller of cleaning devices to a provider of consulting services in order to help professional cleaning companies improve their cleaning processes. Based on interviews with seven IT- and non-IT executives, the case illustrates how the company learned to generate value from IoT products. And it demonstrates how a family-owned company transformed its organization in order to be able to more effectively develop and provide IoT products, while adding roles, developing technology platforms, and changing organizational structures and ways of working.