If you have been a regular follower of Industrial PRIME, you already know that Tieto has plenty going on when it comes to data.
But now, with its brand new unit, the leading provider of IT services and software in the Nordic region aims to take another leap forward in its quest to use data to create an even more intelligent future. It is the aim of Tieto to develop new data-driven ideas and turn them into mature business opportunities for their clients by means of idea incubation and commercialization.
Data-Driven Businesses will be lead by Mr Ari Järvelä, a member of Tieto’s Leadership Team and the man previously in charge of Tieto’s industry group Manufacturing, Retail & Logistics.
Mr Järvelä will have by his side as innovation leader Mr Taneli Tikka, best known for his role as the main man of Tieto’s Internet of Things internal startup (previously known as Industrial Internet). Mr Tikka has been appointed the head of Innovation Incubation, an internal startup within the unit where new data-driven ideas and concepts will be developed by means of co-innovation between Tieto’s internal and external ecosystems.
”It is the primary goal of innovation incubation to use our ecosystem to find not only great ideas, but also the talented teams with which we can join forces and begin the development of something completely new,” Tikka explains.
Even though Data-Driven Businesses has barely been launched, the response from the market already looks encouraging, as many clients have already gotten in touch with Tieto. Some of them may have been playing with an idea for quite some time already.
”Now they have noticed that Tieto is in a strong position to do something about it,” says Tikka. “We have a unique ecosystem that offers us access to the finest of partners and globally competitive technologies to make the ideas and visions a reality. This is why with us, anyone with an idea based on data has an opportunity to accelerate its implementation.”
Mr Taneli Tikka, head of Tieto’s Internet of Things internal startup and Innovation Incubation within the new Data-Driven Businesses unit.
Unique Opportunities in Various Industries
Tieto’s software-based industry solutions already form a significant share of the company’s total revenue. Tieto offers a wide variety of tailor-made software solutions for the forest industry as well as the oil and gas industry, to name just a couple of examples.
Now, Tieto aims to forge ahead with its new Data-Driven Businesses by focusing on those industries where its market position is the strongest. Mr Tikka provides us with two examples: the energy market and the forest industry.
”Today, more than 70% of the transactions in Sweden’s financial energy market are made using Tieto’s systems,” he explains. “Meanwhile, our global market share in wood reception is nearly 100%. That means our software is involved practically every time wood is received somewhere around the world.”
In the industries where Tieto has a strong presence, be that in the Nordic region or globally, the company has access to such vast amounts of data that most competitors are going to find it hard to match it.
”This is why Tieto and its clients are now in a marvellous position to get something unique out of this data,” Tikka points out. “Needless to say, this has been one of the principal ideas driving the establishment of our new Data-Driven Businesses unit as well.”
Text and images by Industrial PRIME
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