Digital investments not always look feasible at the first sight. But what can you do? If you will not do these investments you might like behind in the race for digital capabilities and digital superiority. What’s for sure is that you will miss the ability to collect data. And that is the most important aspect of digital transformation. The more data you have the better you can compete. The more data you have the better you can analyze. The more data you have the better you can optimize. The more data you have the better you can focus periods focus on customers; focus on targets markets; focus on best-selling products; focus on the best performing store.
Traceability projects very rarely deliver short- term value. Therefore most of the times these kind of projects are not considered feasible. But when do you want to start capturing data about your value chain? How do you want to trace your products, processes, data flows, material flows, financial flows? How do you want to optimize the end-to-end value chain, if you don’t have the necessary data at hand.
Predictive maintenance is on the agenda of many factories. The value is obvious. But how would you like to pursue without the relevant historic accumulated data? Kind of difficult, even most of the times impossible. So, no other chance then to start collecting the necessary data, about your equipment, machinery, and other stuff you would like to maintain, in a predictive manner.
WILL YOU ABLE TO COMPETE WITHOUT DIGITAL CAPABILITIES?
Many more examples like these can be listed. Customer analytics, profitability, dashboards and data visualization, and other valuable initiatives, but don’t pay back very soon. Is this your reason not to do them? Will you be able to compete without these digital capabilities?
Digital transformation is not an option, it’s mandatory. You have to do it. The questions are when, how, how much, with whom, and probably most importantly why or differently articulated, for what purpose?
Yes. Investing in digital is sometimes expensive, sometimes even very painful. But not investing may harm or even kill you. Now it’s up to you. We think you got the point. Our advice is quite clear on this. Looking forward to talk about digital.
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