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How effective is your organization at leveraging data and analytics to power the business?
By: William Schmarzo
May. 21, 2019 08:00 AM
How effective is your organization at leveraging data and analytics to power the business?
This is the question that we pose at the beginning of our client conversations. Gaining intimate insights about your customer, product, and operational behaviors, tendencies, trends and propensities is critical if organizations want to drive digital business transformation; optimizing key business processes, uncovering new monetization opportunities and creating a more compelling customer experience.
Unfortunately, organizations are struggling to leverage big data to drive their digital business transformation. They have fallen into the “Digital Business Transformation Chasm” where technology investments and proof of concept exercises are failing to yield the promised digital business transformation. These organizations have not adopted a customer-centric, business-driven “collaborative value creation” process for leveraging the data and analytics to achieve digital business transformation. Instead, they see Big Data (and the Cloud) as cost reduction vehicles (see Figure 1).
Figure 1: The Digital Business Transformation Chasm
Today, many digital business transformation mandates are being driven by IT, which tend to focus on what IT does best – cost reduction initiatives related to cloud, application modernization and infrastructure and architecture replacement.
However, to cross the digital business transformation chasm, organizations must change the dialog. Organizations need to embrace a comprehensive digital business transformation approach, led by Business leadership, that focuses on powering key business initiatives (that’s where the money lays) and providing a more compelling, more engaging customer experience (the source of long-term competitive differentiation).
Leading organizations are taking a different approach to crossing the digital business transformation chasm. These organizations have chartered the Line of Business (LOB) leadership to co-lead the initiative with IT as the key digital business transformation enabler. LOB leadership focuses on uncovering new monetization opportunities from market developments including the Internet of Things, digital applications that reach new customers and markets, new products and services enabled by data science, and the transformation from “connected” entities to “smart” entities (e.g., smart cities, airports, hospitals, schools, malls, cars, excavators). To support this digital business transformation, IT needs to focus on providing self-service data and analytics, enabling “fail fast / learn faster” analytics workspaces (sandboxes), analytics “at the edge” of the IoT network, and the data lake (see Figure 2).
Figure 2: Crossing the Digital Business Transformation Chasm
Organizations are figuring out how to exploit the economics of big data to harvest financial value of their data and resulting analytics (see blog “Determining the Economic Value of Data”). As new sources of data (internet of things, wearable computing, video tracking, extrasensory perception, embedded human, quantum sensors, bionic man) come on board, these organizations are mastering the ability to:
This is the heart of the digital business model transformation!
Owning the Customer Experience
BusinessWeek recently published an article titled “Will Amazon Kill FedEx?” BusinessWeek asks the question: Will Jeff Bezos and Amazon kill FedEx? This is the wrong assessment. Amazon isn’t after UPS or FedEx. UPS and FedEx do not need to worry. However, retailers such as Walmart, Target, Sports Authority, Best Buy and others need to worry because it’s not the overnight delivery business that Amazon wants to own, Amazon wants to leverage data and analytics to own the entire user experience. Amazon understands that the “last mile” from the distribution center into the hands of their customers is critical to delivering a more compelling and engaging customer experience (plus there are tons of insights to be gathered and mined in that last mile). Amazon seeks to “own the entire customer experience” including the satisfactory and timely delivery of the product.
Amazon has always had a fanatical focus on delivering a seamless and compelling user experience including easy website and mobile ordering, one-click pay, Prime two day (or even same day) delivery and is now even experimenting with drone deliveries (“Amazon to test drone delivery in the UK”).
Figure 3: Apple Claims 94% of the Smartphone Industry’s Profits
I don’t know about you, but I think I’d prefer to have 94% of ALL the global smartphone profits instead of 83.5% of the market volumes, you know, just saying.
Dell EMC Example
Figure 4: MyService360
The additional data and insights gained from engaging customers in these ways, further enables the digital business transformation efforts – creating the exponential effect shown in Figures 1 and 2. It is a true investment with on-going stream of business dividends.
Digital Business Transformation Summary
One of the critical keys to this digital business transformation success is to own the entire user experience; to leverage data and analytics to gain superior product usage, customer behaviors, market dynamics and operational effectiveness insights to provide a more compelling, differentiated customer experience.
Read how you can leverage data to deliver a better customer experience (CX) by reading other content on InFocus as part of a special thought leadership series: Unlock Customer Intimacy Through Big Data. You can also learn more about how to invest in the right CX capabilities at the 2016 Dell Technologies “Customer Experience Day” virtual event on October 5 at 2 pm EST.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throughout enterprises of all sizes.
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CloudEXPO Has Been the M&A Capital For Cloud Companies
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City.
Our Silicon Valley 2019 schedule will showcase 200 keynotes, sessions, general sessions, power panels, and hands on tutorials presented by 150 rockstar speakers in 10 hottest conference tracks of 2019:
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FinTech and Blockchain Are Now Part of CloudEXPO 2019 Program
Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expensive intermediate processes from their businesses.
Accordingly, attendees at the upcoming 23rd CloudEXPO, June 24-26, 2019 at Santa Clara Convention Center in Santa Clara, CA will find fresh new content in full new FinTech & Enterprise Blockchain track.
ServerlessSUMMIT & Kubernetes at CloudEXPO Silicon Valley
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility.
Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility.
Serverless and Kubernetes are great examples of continuous, rapid pace of change in enterprise IT. They also raise a number of critical issues and questions about employee training, development processes, and operational metrics.
DevOpsSUMMIT at CloudEXPO Celebrates Its 12th Event in Six Years
Cloud-Native thinking and Serverless Computing are now the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, as well as the public sector.
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
ServerlessSUMMIT and DevOpsSUMMIT at CloudEXPO expands the DevOps community, enable a wide sharing of knowledge, and educate delegates and technology providers alike.
There's a real need for serious conversations about Serverless and Kubernetes among the people who are doing this work and managing it.
DXWorldEXPO Showcases Cutting-Edge IoT, Artificial Intelligence, Machine Learning, and Digital Transformation
Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation. DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy.
DXWorldEXPO® has organized these issues along 10 tracks, 22 keynotes and general sessions, and a faculty of 222 of the world's top speakers.
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Technology - The Revolution Continues
Global 2000 companies have more than US$40 trillion in annual revenue - more than 50% of the world's entire GDP. The Global 2000 spends a total of US$2.4 trillion annually on enterprise IT. The average Global 2000 company has US$11 billion in annual revenue. The average Global 2000 company spends more than $600 million annually on enterprise IT. Governments throughout the world spend another US$500 billion on IT - much of it dedicated to new Smart City initiatives.
For the past 10 years CloudEXPO® helped drive the migration to modern enterprise IT infrastructures, built upon the foundation of cloud computing. Today's hybrid, multiple cloud IT infrastructures integrate Big Data, analytics, blockchain, the IoT, mobile devices, and the latest in cryptography and enterprise-grade security.
Digital Transformation is the key issue driving the global enterprise IT business. DX is most prominent among Global 2000 enterprises and government institutions.
About DXWorldEXPO LLC
DXWorldEXPO LLC is a Lighthouse Point, Florida-based trade show company and the creator of DXWorldEXPO - Digital Transformation Conference & Expo. The company produces and presents the world's most influential technology events including CloudEXPO, DevOpsSUMMIT, and FinTechEXPO.
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