Strategic advice to leverage new technologies
Technology is at the heart of nearly every enterprise, enabling new business models and strategies, and serving as the catalyst to industry convergence. Leveraging the right technology can improve business outcomes, providing intelligence and insights that help you make more informed and accurate decisions. From finding patterns in data through data science, to curating relevant insights with data analytics, to the predictive abilities and innumerable applications of AI, to solving challenging business problems with ML, NLP, and knowledge graphs, technology has brought decision-making to a more intelligent level. Keep pace with the technology trends, opportunities, applications, and real-world use cases that will move your organization closer to its transformation and business goals.
Insight
This month's installment of CBR takes a look at a trend that we see emerging, even though it may not be a reality (yet) for many of our readers. This topic, that my colleague Rick Watson and I call the “digital data genesis capability,” represents the notion that organizations must, in order to stay competitive in the future, develop the ability to embed digital computing equipment and IT in organizational processes to serve goals other than transaction processing, thus creating data in digital form and capturing it at its inception.
Dynamic capabilities are often considered to be the factor that justifies the different degrees of success that organizations in turbulent environments experience.1 For example, the capability to develop new products can make the difference between a commercial success and an utter flop. Unfortunately, many organizations have trouble developing dynamic capabilities. This knowledge gap bereaves managers of a set of tools and methods to improve the performance of their organization, which is particularly important during economic downturns.
Economic Reality: IT Must Look for Productivity Opportunities
The economic upheaval that began in 2008 has created a business environment like no other. To survive, companies must reduce costs in every aspect of the business -- no expense can go unexamined. Many departments will suffer drastic reductions, but those that are well managed and deliver results are more likely to go unscathed. IT, with its not insubstantial budgets, is still one of the most difficult functions to measure for its impact on the business and will likely see unprecedented scrutiny.