Digital technologies, while ubiquitous, have now started piercing through industries. This will have substantial implications on profits, opportunities and the revenues to boot. This is further compounded thanks to the emergence of new markets. There will be ahead, even greater digitization and a corresponding performance pressure. The greatest impact has already been seen in the media and entertainment sphere, thanks to the rise of digital marketing. The next most affected industries have been retail, high tech, healthcare, telecom, travel and logistics. Towards the bottom in terms of impact have been professional services, financial services, automotive and the least in consumer packaged goods. Companies also need to carefully assess, where to make their digital investments. This is because these investments have seen an uneven return ratio. Looking at the digital winners, it is clear that those with bold strategies, have come out on top.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-case-for-digital-reinvention?cid=other-eml-ttn-mkq-mck-oth-1712

Uploaded Date:30 July 2019

Renewable sources are increasingly occupying a substantial pie of the energy requirements in several countries. This is especially true for Europe, but also increasingly, in North America as well. New resources however, also require a corresponding change in the strategies. There are in total four critical areas, where action now needs to be modified. First of all, new services need to be created to cater to the present realities. These changes need to be aligned with the corporate training and development imperatives. The market participation models for the legacy industry leaders needs to be updated. Some services need to be built in to ensure flexibility. Yet others need to be extremely resilient. The scope of the grid- planning too must be expanded. All grid products and services must get integrated via a common platform. The rate design needs an innovation. Hybrid models can work best in the current scenario. This will help leverage the diverse resources.

Source:https://www.mckinsey.com/industries/electric-power-and-natural-gas/our-insights/less-carbon-means-more-flexibility-recognizing-the-rise-of-new-resources-in-the-electricity-mix?cid=other-eml-alt-mip-mck-oth-1810&hlkid=3b297173de3b45508008d983604ba047&hctky=2657824&hdpid=0f7efac6-7c97-4248-8bdd-6527357dd612

Uploaded Date:02 February 2019 

A lot of the traditional levers which defined industrial outlets, have now been exhausted. The profitable growth in the sector has also witnessed a flatlining. It is in this context, that manufacturers need to bring in innovations to counter this otherwise stagnation. One of the best ways to overcome this is to make use of the enormous potential of data warehousing and quick- fire processing power. To cite an instance, the number of connected devices will more than double up between 2017 and 2020, generating enormous quantities of data, the fuel for digital- era businesses. A strong foundation is needed to be able to leverage such data flow. This includes a well- defined data strategy along with cyber security, could computing and business analytics capabilities. In some industries such as in automotive and in semi- conductors, the trend for gains will be particularly steep. The operating model needs to be built around agility, and the corporate culture needs to likewise bee mended towards this new reality. The company needs to first understand its present position, so that it can plan for the digital transformation.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-trillion-dollar-opportunity-for-the-industrial-sector?cid=other-eml-alt-mip-mck-oth-1811&hlkid=f794496d90ee407e89002b94f2904d37&hctky=9953462&hdpid=40950bab-bdef-4ff9-9eb4-9ea21456999b

Uploaded Date:22 January 2019

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