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.
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The most critical element of a digital shift is the identification of a clear need or opportunity that digital technology can address. Successful enterprises continually examine their marketplaces along with how those marketplaces are changing. They also look at both their processes — and how to carry them out better, faster, and cheaper — and new technologies that could open up hitherto infeasible opportunities.
The time-honored approach to quantifying markets is to work outward from a specific technology or tool to a targeted customer who will potentially use the technology in myriad ways. These potential markets with applicable benefit from the technology are then tabulated into initial total addressable markets (TAMs). In turn, the TAMs help justify strategic investment in an organization or the investment round in a startup.
This edition of The Cutter Edge highlights a long-overdue infrastructure issue brought to light by COVID-19, the missteps taken with DevSecOps efforts, tips for the automotive industry, and more.
We are now well into the depths of dealing with the current situation. In assessing performance in the face of uncertainty, have you identified and inventoried the capabilities, including ones that you barely knew existed within the depths of your enterprise? Can you use this learning to build a more Covidian architecture that will withstand future assaults that could be worse than the one we have been going through?
Vendors are now offering IT solutions designed specifically to help businesses enforce social distancing practices and support automated contact tracing in the workplace.
Today’s corporate world requires companies to look for a clear purpose for their business ventures, beyond solely maximizing profits. This purpose — or the why — is essential for future success in an ever-changing, increasingly digital business environment. As this Executive Update highlights, today’s companies must not only convince their customers of their offerings, but they also must convey opportunities to their investors and company strategy to their employees through the flywheel concept.
The COVID-19 outbreak is impacting all businesses globally. It’s impacting staff, contractors, and staffing levels; it’s impacting the supply chain; and it’s impacting processes. Despite companies having crisis management and business continuity plans, current decision-making tools and dashboards are not adequate for dealing with COVID-19-related decision-making given the geographic scale of the disruption. Established risk management methodologies and approaches tend to be static in nature and lead to models that are backward-looking.
This Executive Update explores opportunities for strategy execution, the role of business architecture and the resulting benefits, collaboration with other teams, and some steps we can take to move into action.