Digital New Year Resolutions

 

We are closing a decade and entering a new one. We live in very exciting times. The 20’s will be hugely different from anything we experienced so far. Are you prepared?

Towards the end of a year usually you make some promises to yourself, to your family, to your organization. We did. Did you make your “new year resolutions”? We have some suggestions. Here are our “top 5 new year resolutions”:

1. Capture DATA; as soon as possible and as much as possible…

If you don’t want to regret the lack of data tomorrow, you’d better start collecting them today. Sounds reasonable, doesn’t it? Why you don’t do it?

How you want to do deep analytics, if you don’t have the necessary data available? You want to do end to end traceability. You need very granular data from all the items along the whole value chain. You have to know your customer much better than ever before. Are you prepared?

Have you ever calculated how much storage you would need if you would capture data from 1000x more items, 1000x more events, 1000x more data points? This would mean 1.000.000.000 (one billion) times more data. Probably even more, since the data gets more granular, higher fidelity, higher resolution, higher capacity every day. Quite a number…

Have you ever thought about the computing capacity you will need to crunch all that data? No matter what, this is the way to go. Data costs, not having data costs even more. To cover the costs of capturing all that data, you could find new ways of financing or even trying to monetize the data you have captured.

Be sure that there are people out there looking exactly for that data. Find them and collaborate. They may have some other data you are desperately looking for. Welcome to the age of infonomics

2. Know thy score!

You can’t manage, what you can’t measure. Do you know your digital score? How digital mature are you? Ever measured? If not, the time has come. Set the baseline in 2020 and see how you will mature during this decade. Digital transformation is a long journey…

Digital maturity is not just your social media appearance. It is also not just your industrial automation. And for sure not the new teamwork software you have implemented, nobody is using. Digital maturity is all of that and much more…

Digital maturity is a corporate thing. It’s a whole. It must be considered very holistically, very comprehensively. From processes to governance, from technology to innovation, from organization to customer experience, all these aspects are reflecting your digital maturity. They support each other and interdepend on each other.

You should have a look at our digital maturity index self-assessment survey and get an idea where you stand and what you could do to improve yourself.

3. Change is for real. Cultural transformation is inevitable…

Technology can be very tempting. Especially leading-edge gadget and projects can easily alter the focus from the real objective to the short-sighted project outcomes. It’s not about technology! It’s not about the cool new gadget and the wow you get in the press about implementing it for the first time. Remember your “purpose” …

As much as data and analytics, new technologies and related projects, integration and new business models are important and exciting, as much you have to focus on a cultural shift. If your people don’t change, the tools will not create the results you expect.

Thru repeated and customized trainings, role models, extensive but targeted and personalized communication, events, and a honest language about the purpose why we all need to adopt to the “new normal” any digital transformation will fail or not deliver the expected outcomes. You don’t want to risk this.

4. Use digital to make the world a better place!

Doing good usually is also good for business. Reducing waste will save you cost and will also benefit the environment. Focusing on reduction of energy consumption will have a huge impact on your bottom line, depending on your industry, and will also decrease your CO2 footprint.

Digital collaboration among your teams can be fun, saving on travel time and cost, fuse team members together and improve engagement. Again, saving on travels will contribute positively to climate and environment.

Digital transformation usually focuses on customer experience and / or on operational excellence. Sometimes, if the maturity of the organization is sufficient and the circumstances are suitable, digital innovation is considered and executed as well, such as becoming a platform or running vertical integration programs.

No matter what the focus is of your digital transformation, most of the projects will improve your ecological situation. Energy, waste, environment, travel, and much more. Measure your ecological gains, report it within and outside your organization. Be proud of being a better organization. Your staff will like it, your customers will prefer you, your suppliers will be inspired, the media will be impressed. What do you want more?

5. Start to build your next version…

You future competitors are not the usual suspects. It might be a start-up out of college, challenging all standards you have created for the last decades. It might be a private equity firm buying all small-scale companies and combining them along the value chain, silently, secretly, and you might not notice.

You don’t want to be caught unprepared. So, better be ready right now. How? Why you don’t disrupt yourself. Why you don’t discover those start-ups in the first place? Why you don’t create such a start-up yourself? What is more important? Today’s operations, or tomorrows success?

Put your best people on a dedicated team, in a separate office and allow them to build the next version of your today’s business. Isn’t this a worthwhile investment? If you want to stay relevant you have to push the boundaries of your industry and tear down the mental barriers of your current organization. Usually this can’t be achieved with insiders only and under the current roof top. You should know better… and do better…

Epilogue:

There is a better version of you inside your organization! Discover it, let it emerge, let it shine. You can do better than right now. Let 2020 be your year of success, your year of transformation, your year of excellence. Enjoy your success.

 

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