Digital Innovation Management: A Study of How Firms Generate and Implement Digital Ideas

Abstract

People and businesses are communicating online on a never-before-seen level. New digital behaviours, services, and products could result from these exchanges; these are all examples of digital innovation. Digital trace data, or user records left on various digital platforms that contain information about their activity, are the foundation of this procedure. Massive amounts of data are produced, but until they are given context, they are merely data with latent value. Digital trace data records interactions with digital artefacts and is available to a wide range of actors for reinterpretation as sources of innovation and value creation. It is not concerned with the usage of the data in the future. Although data-generating online communities might be creative places to be, they are also very susceptible. Digital trace data can be used and shared with any other person, partner, client, or supplier; they are not a limited resource. In order to stay competitive, businesses must handle the ever-changing dynamic interactions between members of online communities, deal with meaning-laden digital trace data, and support decentralised innovation that calls for a variety of knowledge resources. This study investigates the use of digital innovation inside online communities.