MANAGING in the

NEW WORLD

Digital Transformation

One of the most crucial aspects bringing competitive edge to companies, is their ability at data warehousing. This is because data has become the fuel that allows for extensive analysis to take place in any business. The downside of it assuming such importance is that there is excessive protection of the same, due to fears of any breach. The Katzenbach Center has proposed a more holistic approach towards this data. First of all, companies need to curate the right corporate culture which will enable the right utilization of data. The overall corporate strategy needs to be well aligned to the designs on data to allow for streamlining of operations. The team curated needs to have a cross- functional composition, so that there are experts from different fields, adding value to the analysis. Nothing must be done in a hurry, as this digital transformation will take its own sweet time. A data- inclusive culture will lead the company to rise to the top.

Source:https://www.strategy-business.com/blog/How-to-Cultivate-a-Data-Inclusive-Culture?gko=074a4

Uploaded Date:20 May 2019

Companies need to move away from the conventional thinking that puts analysis as doing calculations on a spreadsheet. Instead, companies must encourage its people to think in code. This has multiple advantages. One of them is that it allows for neat data warehousing, when the said code is separated from its analysis. Another is that this code is easier to share and also to reuse. And finally, code is also more useful for both simple as well as complex analysis. Shared- code repositories need to be built in to the organization. Security and permissions will have to be worked out accordingly. Code must thus be a part of regular business discussions.

Source:https://sloanreview.mit.edu/article/train-your-people-to-think-in-code/

Uploaded Date:13 May 2019

To tackle the world’s sustainability crisis, technology is playing a big part. A suite of devices using GPS, sensors, drones and big data have emerged which helps solve the world’s environmental and social challenges. iNaturalist and the STAMP 2 Project are examples of such technologies being put to use. Wireless sensor networks are helping to spread drinking water to remote regions of Africa. Beyond providing service providers with the right information, such technologies are also enhancing the scope of possibilities of solutions. Matter, energy and information are the three raw products required for creating any such product. The physical artifact must at the end be useful to the customer.

Source:https://sloanreview.mit.edu/article/digitizing-products-for-sustainabilitys-sake/

Uploaded  Date:11 May 2019

Some technology trends will dominate in the year 2019. Millennials and Generation Z-ers want specific self- service offering from their brands. Thus, round the clock will now be available thanks to the presence of conversational bots. These newer bots will be able to connect emotionally with the customer, and not merely reply using linear specified answers. Extremely authentic business intelligence will now be captured thanks to the use of the Internet of Things (IoT), as it will only lead to an expansion of the digitization. Instead of the desires and expectations to be understood, hard data will bring the exact inputs. Machine learning can now process business analytics. This is because a staggering forty- five thousand exabytes get produced using machine learning.

Source:https://www.forbes.com/sites/forbestechcouncil/2019/02/15/top-technology-trends-that-will-reshape-the-customer-experience-in-2019/#223a525634fa

Uploaded Date:27 February 2019

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