Machines offer the possibility for vastly more nuanced decision making, an advantaged cycle of data collection. They will enable companies to automate operations, orchestrate wide-ranging experimentation, and drive very rapid and continuous business improvement.
Data and advanced technology can enable companies to orchestrate wide-ranging experimentation, and drive very rapid and continuous business improvement. Learn how digital transformation opens the door to big data and advanced technology, and what that means for your business.
For companies of the future, data will become a huge asset and learning will become an essential capability. Data are quite literally the “senses” of the company’s machines and AI. Companies will need to invest in gathering data (through sensors, data ecosystems and partnerships, and by obtaining customer permissions). They will need to manage data well (investing in cloud and data lakes)—so that it can be used while also being appropriately protected (with relevant privacy policies and necessary cybersecurity).
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Companies will need to determine the use cases where data can create massive value. They will need to assess the data with AI and advanced analytics, turn it into business actions, track outcomes, and create learning loops. Plenty of use cases exist: predictive maintenance or machine control in manufacturing; advanced production flows or inventory management or transportation in supply chain; next best offer or price or promotion or marketing message in commercial functions. Companies that understand rapid learning will drive better decisions and create value and competitive advantage.
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Technology systems need to span the company (or at least groups of similar business units). This is a big challenge for companies with diverse sets of legacy systems. Often, the first step for these clients is to adapt data and technology stacks to support key use cases. Taking a step beyond simply use cases requires evolving over time to a global technology architecture. Digital natives, which have had the benefit of building from scratch, go one step further—their technology platforms are designed to allow for rapid innovation and enhancement of processes.
Modernizing IT legacy systems enables companies to handle a massive ingestion of data, use that data across silos, and accelerate its processing. Today’s technologies and new ways of working make it possible to simultaneously build an industrial data platform and achieve rapid results.
LEARN HOW TO BECOME A DATA-DRIVEN ORGANIZATION
Digitizing Customer Relationships
As the lines between products and services blur, the number and quality of customer relationships will become the primary determinant to value.
Building Digital Talent and Organization
The shift from processes operated by humans to processes designed and audited by humans, and operated my machines, has profound implications.