How Does Data Input Drive Enterprise’s Technological Innovation: Concepts, Mechanisms and Paths?

Abstract

In the era of digital economy, data has become not only a production factor, but also an innovation factor, which has already played a profound impact on technological innovation of enterprises. What is the data factor? How does data input drive technological innovation of enterprises? How to promote the positive effects of data input on enterprise’s technological innovation. Such questions have attracted attentionof academic world. This paper first explores the connotation and economic characteristics of data, and further analyzes the mechanism of data input driving enterprise’s technological innovation from four aspects:cost reduction, knowledge creation, optimal allocation and enterprise governance. Finally, this paper proposes that reducing the cost of data transactions, reconstructing the cooperation network of industry-university-research, accelerating the integration of elements andconstructing high-level data rules are effective paths for data-input enterprises to developping their technological innovation.