MANAGING in the

NEW WORLD

Technology and Business

A few of the technologies that will play a major role in the business world over the coming years have been identified. These technologies are- social media analytics, wearable technology, Internet- of- Things (IoT), augmented analytics, cryptocurrency, blockchain, cloud computing, location- based services, Augmented &Virtual Reality (AR & VR) and Artificial Intelligence (AI) & Machine Learning (ML). The process of piloting has also been explained. For piloting, first of all the emerging technology has to be outlined with reference to the business impacts expected. This potential impact needs to be directed towards the business models and processes being used at present. Sponsors then need be identified to showcase these pilot demonstrations. After this, specific pilot project plans need to be put in place, replete with measurable impacts. The execution then needs to be done. This works best with social media analytics. It is the combination of the two terms – business analytics and social media- when combined together to great effect. Wearable technologies, AR/VR, AI/ML and the IoT are other areas where massive potential for piloting exists.

Source:https://www.forbes.com/sites/steveandriole/2018/11/25/how-to-pilot-emerging-tech-like-social-media-wearables-iot-ai-analytics-crypto-blockchain/#7fd684e147d0

Uploaded Date:28 December 2018

A recent report published by research firm Spencer Stuart signals that a substantial number of CMOs (Chief Marketing Officers) have been sacked throughout 2018. The CMO’s role has evolved from being the font for all expertise, to being a facilitator for growth. To do this, there are some crucial business levers, starting with the brand value. Another is the product marketing. Data and the subsequent business analytics form another crucial part, followed by the sales support. Certain lessons have been learnt from this uneasy transformation that CMOs are witnessing. The first is that one ought to understand one’s real responsibilities. Once the role is clarified, a team has to be built around the idea. So, the talent recruitment and subsequent team building has to be geared towards the end goal. There mustn’t be any boundaries, not must silos get created. Whatever dynamics exist within a team, coming in the way of success have to be overcome.

Source:https://hbr.org/2018/11/the-new-pressures-facing-cmos-and-how-to-overcome-them?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM18593

Uploaded Date:26 November 2018

While the renewable energy revolution is ongoing, researchers and governments have already started plotting the next big thing- energy storage. The rapid adoption of electric vehicles is bringing down battery costs. Investment are now being made on the future of Transmission and Distribution (T&D) to eventually restructure the power markets and digitize the electricity bionetwork. The field of energy storage also brings in opportunities for utilities. These utilities must understand the utilization of business analytics as that will give them mastery over the entire process. This partnership between data and utilities can bring far-reaching business benefits. Some companies such as Amaresco and Ener NOC have already ventured into energy storage. The disparate electricity grids from separate energy sources are also being integrated together through such systems.

Source:https://www.bain.com/insights/embracing-the-next-energy-revolution-electricity-storage/

Uploaded Date:13 September 2018

Business transformation in the wake of rapid digitization is something that most organizations are grappling with these days. Digital natives have turned into disrupters in their sectors, with Uber to the taxi industry being an example. No transformation effort however will be successful if the focus remains on technology alone. The most important aspect that all must consider are the people involved. That is why people analytics has become a key change element. It is a combination of the business analytics capabilities with an understanding of the human factors. It replaces previously used anecdotal evidence risk-avoidance strategies and an adherence towards hierarchy with experimental research, forecasting and data analysis. Process transformation is usually performed top-down due to the complexity. Cultural transformation on the other hand is done bottom-up as it involves the participation of the entire team.

Source:https://hbr.org/2018/05/how-people-analytics-can-help-you-change-process-culture-and-strategy

Uploaded Date:16 August 2018

SKYLINE Knowledge Centre

Phone: 9971700059,9810877385
E-mail: info@skylinecollege.com
© 2017 SKYLINE. All right Reserved.