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How do you ensure the data you have is helping your organization achieve its strategy? Learn how your journey doesn’t start with technology, it starts by understanding the decisions you need to make as an organization, and then ensuring you can capitalize on the explosion in available data sources and volumes. Let's open up the discussion – please join our panel discussion to understand how to monetize your data.
Head of Analytics, Intelligent Enterprise, Business and Application Services, EMEIA
VP, Head of Intelligent Enterprise and Applications Transformation, EMEIA
Head of Analytics EMEIA, Intelligent Enterprise, Business and Application Services, EMEIA
More and more organizations are embracing digital to stay ahead of disruption.
They’re changing their business models. They are embracing agility and flexibility by avoiding investment in assets – they are NOT creating ‘new legacy’ – they are ‘exchanging the assets of others’.
The most adaptive enterprises will be the ones who can make the most of digital, enable its full potential and thrive.
The most successful enterprises are forging ahead because they are embracing digital in all its forms. You can adapt new ways of working, new ways of engaging customers, and new ways of running your business from beginning to end and all points in between That creates a virtuous circle of innovation, higher productivity, better customer engagement and feedback, and fosters wellbeing as well as compliance You’re fit for digital – fit for a fast moving, dynamic marketplace You’re able to build your vision and leverage the strengths of your brand heritage through digital means That’s what you digital future should look like – and we can help
They are leveraging their power to adapt more quickly than their competitors – and are able to keep pace (and compete with) the new entrants to their markets.
When it comes to doing thing differently, we believe there are fundamentals that need to be addressed due to the market forces that exist
We all know the work has changed, and the pace of change is getting faster. Organisations can no longer rest on past accomplishments and in many cases, revenue stream no longer have the long tail that used to be where profits lie. So organisations really need to ensure they are innovating to control their own future.
Firstly, in world where customer demands change frequently, and the meeting of those demand, whether in public or private sector, is the raison d’etre for an organisation, then an organisation needs to innovate. It either needs to create new product and service offerings to respond to a shift in demand – trying to be a “fast follower”, or create new products and services to prompt a shift in demand – becoming a “leader”. Both models require new ways of thinking, new ways of addressing demands, and in most cases will drive a need for new business models and new models for monetisation. The organisation also needs to look at taking existing products and services to new customers, potentially using new channels, alliances or joint ventures, or new technology delivery channels, to access these customers. Innovation is about making the business of the future, as the future is much closer than it used to be. We call that Master Business Innovation.
Organisations also need to embrace the fact that customers and citizens today are using different channels and different technologies than they have in the past. Characterised by Social, Mobile and cloud delivered solutions, the number of channels available has exploded in the last 20 years, and the pace of change is increasing. So you need to be in these channels. You need to play by new rules as you are not in charge any more. The customer is. You need to use fantastic experience and always deliver on your promises. James McQuivey author of Digital Disruption: Unleashing the Next Wave of Innovation states “The only source of competitive advantage now is a focus on knowledge of and engagement with customers.” We call that Master Customer Engagement.
And you need to deliver on your promises and so you need to work in a way that delivers on the promises. You need to deliver outcomes, You need to be focussed on your customer, whether internal or external. And we are talking about intelligent workers who can comprehend the work they need to do and the best ways to do it. So high performing team are self directed, self motivated, self organised and self measured. This is about new ways of working. And we call that Mastering Enterprise Productivity.
And finally you need to run a legal business. Governance and Compliance is of increasing important, and the penalties for getting it wrong are growing. As well a punitive legislation, the risk of business impact through reputation damage is greater than ever in this world of 24/7 news an instant embarrassment on social media. Data needs looking after and people need looking after, and as skilled resources are in short supply. Looked after better than ever before. But organisations also need to recognise that unnecessary and burdensome controls, checks and processes soon get in the way of the dynamic, adaptive ways of working that characterise the modern digital enterprise. So all of the organisational hygiene that needs to happen to run a legal business needs to be frictionless. It needs to happen in a manner that keeps it out of the way of people doing their jobs, serving customers and getting the real work done. We call that Mastering Compliance and Wellbeing.
Organizations should look beyond basic BI to take better advantage of burgeoning data sources, understand the business at the speed of business, optimize business processes, gain deeper insights, embrace complexity, reduce regulatory risks, evaluate scenarios and spur innovation. Whereas BI implementations are appropriate typically for informing business managers of performance indicators, advanced analytics implementations can provide far-reaching organizational benefits over basic BI. Gartner finds that the requisite BI tool/platform features of data aggregation, summarization, selection, slicing, drilling and charting are tuned for presenting information interesting to users, but not necessarily information important to optimizing business processes. Today, only strategic decisions (and not even all of them) are made at a rate slower than the speed of business. Tactical and operational decisions must increasingly be made at a rate faster than humans are capable of. Notwithstanding the continued reliance on spreadsheets, BI is now a core competency in most organizations. Most implementations are basic decision support solutions for business managers and executives. In addition, much data is still left to interpretation, pockets of BI result in information clashes between departments, and many users choose not to rely on BI results to guide their decisions and behavior, or at least limit their reliance on it. The resolution to this is to deliver analytic results beyond searching and summarizing, and to deliver those results direct to business processes, not (necessarily) people.
We need to identify the pockets where we can drive the change for the greatest impact, and the prioritise these areas so we can address them in an iterative manner to minimise disruption. We clarify what New Ways of Working will do for the organisation, create a concrete business case with benefits that can be financially realised, and institute a process to actively manage benefits realisation.
Analytics, monetization and how to avoid the Big Data swamp