The essential three ‘i’s of digital transformation: rethinking intelligence, integration and impact
The question for the most important and influential of individuals at any company is no longer whether to change how they gather data, but it’s when and how
With successive waves of e-disruptions, from online social networks giving more power to customers to IoT (internet of things) multiplying the possibilities of collecting novel data, the question for the C-suite is no longer whether to change, but when and how.
At its core, initiating a transformation starts with taking the time to understand the nature and scope of the changes that have remodelled the competitive landscape.
In a nutshell, all e-disruptions have one thing in common —they profoundly reduce information asymmetry between different actors within a market (for instance, an apartment owner and a traveller), by making information immediately accessible.
At a strategic level, this new world reduces power asymmetries between leaders and followers, makes it easier for new entrants to quickly penetrate a market or gain influence (for example, a new product or a rising star savvy with social media).
With search engines processing a staggering 3.5 billion requests a day and massive quantities of content available through social media, digital data represents the richest resource of insights available to companies
At an operational level, the enormous corpus of digital data becomes the new lifeblood that flows within and outside of key stakeholders including consumers, competitors and collaborators. To tackle the challenge of digital data, building agility and responsiveness around data becomes the new criteria that distinguish front-runners from the rest of the pack.