Welcome!

@DXWorldExpo Authors: Zakia Bouachraoui, Elizabeth White, Liz McMillan, Pat Romanski, Carmen Gonzalez

Related Topics: @DXWorldExpo, @CloudExpo, @ThingsExpo

@DXWorldExpo: Blog Feed Post

CTO Proven Formula for Radical Business Reinvention | @ExpoDX #AI #ML #DX #Cloud

Digital technologies have altered how people and businesses interact

Digital technologies have altered how people and businesses interact. The potential for dislocation from ongoing digital transformation has created unprecedented levels of C-suite discussion. The decisive market leaders have heeded the warnings and taken bold actions.

That said, if you’re one of those Chief Technology Officers (CTO) that previously responded to this scenario by making small incremental adjustments to your IT agenda, then you’re potentially at risk. Any relief from those prior tweaks tend to be short lived. The same issues will likely resurface.

An Introduction to Digital Reinvention
Back in 2013, the IBM Institute for Business Value (IBV) introduced the concept of ‘Digital Reinvention.’ Why is that concept noteworthy? Markets had evolved from organizational centricity, in which manufacturers and service providers defined a predictable state, into a radically different environment described as the everyone-to-everyone (E2E) economy.

The E2E economy has four distinct characteristics, which are now more important since the original IBM study was published. E2E is orchestrated, and based on open ecosystems which are collaborative and inclusive. Orchestration reflects coordination, arrangement and management of complex commercial environments.

E2E is symbiotic, where everyone and everything are mutually interdependent. Meaning, collaborative partners engage in co-design, co-creation, co-production, co-marketing, co-distribution and sometimes co-funding. Moreover, the E2E economy is cognitive, characterized by data-enabled learning and predictive capabilities.

Customer Experience-Based Innovation
Emerging technologies are expanding customer influence. A new generation of tech savvy customers demand more sophisticated and tailored experiences. According to a recent global survey of executives focusing on emerging business ecosystems, 54 percent believe customer buying behavior is shifting from a products- and/or services-based to an experience-based approach.

Seventy-one percent of global CEOs are now intent on treating customers as individuals rather than market segments -- that’s a 29 percent growth in only two years. And, 81 percent of global CEOs say they want to apply technology to develop stronger customer relationships.

What’s changed? Digital Reinvention rethinks customer and partner relationships from a need-, use- or aspiration-first perspective. Digital Reinvention helps organizations create unique, compelling experiences for their customers, partners, employees and other stakeholders.

These benefits arise even if fulfillment of the experience involves direct provision of products and services, or orchestration of products or services from partner organizations by way of a business ecosystem. The most successful digitally reinvented businesses establish a platform of engagement for their customers -- acting as enabler, conduit and partner.

 

Pathway to Digital Reinvention
According to the IBM IBV assessment, to succeed in this disruptive environment, organizations must offer compelling new experiences, establish new focus, build new expertise, devise new ways of working and embrace the digital drivers.

Pursue a new focus -- Leading businesses will develop new ways of realizing and monetizing value and spawn new business models, new forms of financing and better, more holistic ways of conducting risk assessments. Leaders will also engage the market in deeper, more compelling ways. They will create strategies and execution plans to deliver deep, contextual, compelling experiences, and find new ways to monetize customer Interactions.

Build new expertise -- Leading businesses will digitize products, services and processes that help them redefine the customer experience. They will augment these steps by applying predictive analytics, cognitive computing, the Internet of Things and automation to create a fully integrated, flexible and agile operational environment necessary to support and enable deep experiences.

Establish new ways of working -- Leading businesses identify, retain and build the right talent needed to create and sustain a digital organization. The most successful among these take measures to create and perpetuate an innovation-infused culture incorporating design thinking, agile working and fearless experimentation.

Leaders contextualize organizational priorities within business ecosystems, seeking new forms of partnering and new ways to build value within overall systems of engagement. They think deeply and strategically about how customer priorities might evolve, seeking opportunities to create engagement platforms to the benefit of their customers, their partners and themselves.

Embrace digital drivers -- Leading businesses combine open innovations to create organizations that can build the deep, compelling experiences customers desire. Rather than incrementalism, Digital Reinvention provides a path for visionary organizations to adopt an experience-first approach to planning, employing the strengths of ecosystem partners to create experiences that are truly unique.

Study Conclusion: Reinventing the Future
Digital technologies have redefined how people live, work and play. Pervasive technology is already changing traditional industry structures and economics and is reinterpreting what it means to be a customer and a citizen within the Global Networked Economy.

To thrive in a rapidly changing business environment, the most successful organizations will offer compelling new experiences, establish new focus, build new expertise and devise new ways of working -- all based upon a foundation of the latest digital drivers.

The fearless market leaders advance this process by embracing Digital Reinvention. They envision possibilities, create pilots, deepen capabilities and orchestrate new ecosystems.

Read the original blog entry...

More Stories By David H Deans

David H. Deans is the Managing Director at the GeoActive Group. He has more than 25 years of experience in the Technology, Media and Telecom sectors.

DXWorldEXPO Digital Transformation Stories
Steaz, the nation's top-selling organic and fair trade green-tea-based beverage company, announces its 2017 "Mind. Body. Soul." tour, which will bring authentic experiences inspired by the brand's signature Mind. Body. Soul. tagline to life across the country. The tour will inform, educate, inspire and entertain through events, digital activations and partner-curated experiences developed to support the three pillars of complete health and wellness.
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
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 throug...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DSR is a supplier of project management, consultancy services and IT solutions that increase effectiveness of a company's operations in the production sector. The company combines in-depth knowledge of international companies with expert knowledge utilising IT tools that support manufacturing and distribution processes. DSR ensures optimization and integration of internal processes which is necessary for companies to grow rapidly. The rapid growth is possible thanks, to specialized services an...