In recent years, managing innovation has increased in importance for CEOs. Lately, it has consistently been among their top five priorities (see for example, The Conference Board's CEO Challenge Survey). It has also become more important in the public sector, at both the federal and state levels. Pennsylvania, for example, just last month formed the Governor's Innovation Office to improve efficiency and generate savings for taxpayers.
One reason for this is the sheer volume of data being maintained by large enterprises. Last year, McKinsey & Co. concluded that it was not unusual for large U.S. corporations to have more data stored than the U.S. Library of Congress. How much data is that? Well, according to the library, its collection fills more than 800 miles of bookshelves.