The disruptions the world of consumer software experienced about half a decade back, are being repeated now but in enterprise software. Those early disruptors such as Netflix, Uber and Amazon realized that the customer journey ought to be a flawless experience as a baseline from where the customer expectations may be met. Those making business decisions want similar a flawless experience in their work as in their personal lives. That is why the best of brands in both B2C and B2B models are focusing on customer-centric technologies such as Virtual Reality (VR) and digital personal assistants. They are using automation and lean manufacturing to stay head of the curve. For such a transformation at the enterprise software level, a few steps need to be followed, beginning with developing a purpose-driven corporate strategy. Digitization does not imply merely a veneering, but on getting the basics right from the inside. The entire team needs to act as one towards the common goal. An employee-first approach needs to be taken along. An intelligent digital nervous system needs to be curated for the entire organization.

Source:https://www.forbes.com/sites/forbestechcouncil/2018/09/24/how-digital-transformation-can-help-cultivate-customer-experiences/#488126b470a4

Uploaded Date:27 September 2018

Cloud computing, ubiquitous networking and low-cost hardware have ensured that the Internet-of-Things can be used on a much larger scale. We now have the ability to connect almost any device. And that is why there is such high-level investment on IoT, with IDC forecasting a US$ 773 billion investment on it this year alone. Automobile maker Tesla and consumer brand Nest are two of the significant examples in it. While devices and the brands that build them are doing an impressive job, work needs to be done on more streamlined data warehousing. Enormous amounts of data is being generated from multiple devices, but all of it may not be useful. Devices from large firms such as Amazon Echo and Google Home are just some examples. A key task now is ‘sensorization’, or attaching sensors to as many data touch points as possible. This will enable the quick replacement of any malfunctioning part or whole device. But even before sensors report on the damage, predictive analytics allows companies to gauge the possibility of something falling apart, so proactive steps may be undertaken. Smaller devices such as Raspberry Pie and AR glasses from Vuzix are at the cutting-edge of such proactive transformation. Data needs to be shared across all touch points, so a feedback structure is needed between design, data and practice.

Source:https://www.forbes.com/sites/insights-intelai/2018/09/21/reinventing-products-from-the-inside/

Uploaded Date:27 September 2018

Peddling mass-market consumer brands was the norm for about a century where everyone wanted to associate with a few ‘right’ brands such as jeans from Gap or coffee from Starbucks. But now the change has reversed to increased personalization at scale. This is known as mass customization. Some companies leading this urge are the likes of Stitch Fix which is into personal styling and Space ways, which is a 3D printing service. The advantage that owning scale used to bring earlier is now being seen as a liability because it unnecessarily increases fixed costs. This is a reason for Gillette’s market share getting disrupted by the nimble-footed startup- the Dollar Shave Club. All this is now possible because of the enormous quantities of data warehousing now being done which gets further processes using AI capabilities. The specific data and user intelligence that emerges is then used by consumer-facing brands for their digital marketing efforts as they can now provide a more personalized service.

Source:https://www.strategy-business.com/blog/Bigger-Is-No-Longer-Better-When-It-Comes-to-Consumer-Brands?gko=0e1b7&sf196654240=1

Uploaded Date:15 September 2018

A lot of companies are still getting their digital strategy wrong. Digital is not about using some flashy app to attract new customers or to simply shed costs. It is multi-faceted and leads to a change in the mindset. Investing in digital also means a likewise shift in the talent management approaches. Legacy companies need to tighten up the positive values they already have, while forging ahead with newer capabilities. A complete revamp is needed around four aspects which are- customer engagement, value chain operations, organizational structure and the corporate strategy. Amazon is an example of a company that has perfected its position in each of these four ways. A lot of companies or industries have even started despairing under the false belief that digitization is not for them. But in truth for every business and each branch, digital has something in store.

Source:https://hbr.org/ideacast/2018/08/understanding-digital-strategy?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM13129

Uploaded Date:15 September 2018