Big data, the Internet of Things (IoT), and the cloud are technological innovations that need to demonstrate corresponding business value. While the aforementioned technologies have distinct identities of their own, they are also interdependent. Innovating with these technologies at a business level demands a multidisciplinary, holistic approach that also incorporates an understanding of how to manage risks. The Big Data Framework for Agile Business (BDFAB) provides a basis for fostering innovation and managing the risks associated with it in the big data, IoT, and cloud space. This article discusses the nature of innovation in the context of big data, IoT, and the cloud and its application in practice.