Pearls of Wisdom for Digital Disruptors
I don’t know about you, but when I finish my time at a conference, I often feel a bit let down. Often, I find myself sorting through what I heard or learned, looking for one or maybe two pearls of wisdom. But last week, I was amazed as I took stock of this year’s Informatica World to find that I actually got 10 great pieces of wisdom that could be useful to anyone trying to be digital disruptor at their firm. One thing before, I get started. To protect the innocent, I will only accredit names to those that would be fine with me sharing what they said publically. So let’s get started.
“Businesses are moving from the age of productivity to the age of engagement”, said Sohaib Abbasi. Sohaib’s comment clearly pick up on a recent theme of Geoffrey Moore, but goes further by asserting that enterprises that will have a continuing “right to win” will be in front of all things data. These winners, Sohaib claims, “realize that traditional approaches to data no longer work. This means that they know that they need be to master all things data—transactions, social, and even machine data”. In a retail setting, this means that they not just know a customer’s transactions but what the customer likes and who their friends are.
- “The data explosion is here. Winners will take advantage of this change. They will drive tangible benefits for their businesses. The world today is about analytics, interactions, and mobility”.
- “We need a new way to think about analytics. Analytics needs to be about fast, smart decisions”,said Tom Davenport. Yet, he said there is a problem with big data? What is next if we continue to call it big data–hellabyte, muchabyte, and lots of byte”?
- “Data is now a business driver and we need to treat data as a business asset”. Given this, being a successful digital disruptor requires a “common business vision of what we want to accomplish and a true partnership between the business and IT”.
- “There is a supply chain for data. This supply chain is about transforming data so it is at the right place at the right time”, said Narendra Mulani, Senior Managing Director, Accenture Analytics.
- “The IoT is a big word—it is a business risk but has the potential to change everything if we have a data strategy to deliver business value”, Steven Levitt.
- “Bill Ford says cars are rolling collections of sensors”, said Tom Davenport. A true Internet of Things?
- “We need to embed analytics into the business operating model. Doing so will align organizational process and technology and turn data into an enterprise driver”, Paul Barrett, Accenture Analytics.
- “GE has determined that data should receive the same care that they build jet engines”, Scott Barber, GE
- “With data science today, we have the opportunity to create a new age of reason…Democratization of data means that we can create change in our underpants”, said Jake Porway, DataKind.
There are a lot of big ideas in these quotes. Let me, therefore, try to summarize. The goal of enterprise software is changing from increasing productivity to increasing engagement between companies and their employees and companies and their customers. Because of mobility, users are demanding that they have their data now whether it is for small data or big data. And regardless of data type, data has to be great—for this reason, there needs to be supply chain of data. The IoT has to have specific goals to succeed. And increasingly data measurement needs to happen at the business operating model level. So with great data and great data science, the important wins will come through the democratization of data access and data use.