Smart City

Smart London:
upcoming business models from big data management

London’s tech market is the largest in Europe. There are 40,000 digital businesses and 200,000 employees in it’s technology sector. The innovative data management makes London the perfect example of a smart city.

Smart London: upcoming business models from big data management

How can companies and citizens take advantage of this massive data flow and interact with institutions to improve life quality? And which strategic tips can we learn from londoners experience?

Prof. David Gann, Chairman of Smart London Board and Vice President Development and Innovation at Imperial College, shared his analysis and answered some Q&A  on our live webinar.

Webinar Gann 2016

The Smart London Plan makes the most of data sharing in order to deal with some of the critical issues of fast growing cities: air pollution, traffic congestion, peak loads and  “vintage” infrastructures upgrade. More than 5.000 companies have joined London Data Store portal and have decided to play a leading role in market’s digital revolution, providing new and  specific services and products. Authorities are more and more engaging with citizens: londoners are allowed to participate more and raise their voices, thank to data flow and evidences. In other words: data are significantly shaping the democratizing process.

Some great projects have been mentioned as: Smart District (a collaboration with London Milan and Lisbon, horizon 2020) or Queen Elizabeth Olimpic Park.

Exploring new business value_v2

If companies want to take a step into the future, they must be concerned of 5 patterns of innovation, according to Prof. Gann:

  1. Augmenting products to generate data –this can also help rethinking of weak business models (for ex. Rolls Royce study case)
  2. Digitizing assets –can boost the reach and visibility of a small-medium or local based business with large online communities on social media platforms (for ex. The International Museum of Women)
  3. Combining datas within and across industries –the ability to coordinate information and combine disparate data sets enables to smooth peaks and improve network efficiency
  4. Trading data –the ability to buy/sell company information can develop new offerings for adjacent businesses (for ex. TomTom and Vodafone on managing traffic flows and reducing congestion)
  5. Codifying a distinctive service –to possess a distinctive capability that others would value, create a model to sell externally after internal use (for ex. IBM or Hotel group in London Edwardian)

These patterns assure us that drifting from physical to nonphysical goods can lead to multi level growth and we don’t have to fear: finding creative solutions with technology support  is a path to business and personal success.

Don’t miss our upcoming live webinars and join the debate on technology and innovation topics.

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