Don’t ignore data flowing through vendors management systems

In my last column I emphasized smart contracts as one of the ways to address issues in Vendor Management.

Vendor Management is becoming an area of increased importance as clients increasingly use vendor ecosystems (ranging from services, software, startups etc.). And yet, we see clients not paying enough attention to it.

Most clients who have outsourcing relationships with vendors are sitting on huge amounts of insights and data.

This data is simply under-utilized.

The vendor management model has, for decades, been all about cost savings and control. But as we enter the age of transformation, the real value lies in unlocking the data and insights between the two parties.

Vendor Management consists of several transactions across finance, performance, contract, compliance etc. As financial information is exchanged, it reveals significant insights on usage patterns of various IT elements, by the client. Similarly, performance data can reveal areas – at a granular level – that need improvement. With better tools, the data can be analyzed real time, and used to identify error patterns, usage patterns and trends. The result is prevention of outages and disruption, and better utilization of IT assets.

Having advised several companies in their vendor management journey, I, at times, have been mesmerized by the substantial amounts of rich data they are sitting on. It’s overwhelming, just how useful this information can be.

Instead of the traditional way of policing suppliers, Vendor Management Offices can create a forum for more meaningful dialogue with vendors with deeper insights into operational metrics that can allow clients to address issues.

In fact, I see the possibility of mining this information to be monetized and benefit the industry in general.

This requires Vendor management offices to be equipped with the right skillsand technologies. The market has seen an influx of tools like Service Now, Sirion Labs and many more. Deploying these platforms is a step towards enabling a digitally enabled Vendor Management. This, in turn, can be further supported by the use of RPA and Cognitive technologies.

RPA can automate activities like invoice validation, performance validation, contract compliance, etc. These are labor intensive activities that often take multiple iterations and several days.

The opportunity and the future of Vendor Management can be described as below.

The future lies with the enterprises that gives way to a digitally enabled and data driven ecosystem of vendors. Enterprises will have to deal with constant changing sets of vendors in order to derive value. This is possible through information driven insights. Enterprises that do not adopt the new paradigm will struggle to manage vendors, as they will lack the skills to respond to the market dynamics of the ever changing vendor ecosystem.

Which side you want to be is completely your choice!

Source: ssonetwork.com-Don’t ignore data flowing through vendors management systems

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Disrupt, transform or die. It’s time to enjoy the digital ride

The digital future is here. People used to watch movies like Minority Report or Tron and wonder when the day would come. Unfortunately society is not yet able to prevent crime before it happens, but society is not far away from the billboards in a shopping centre stalking us with their adverts. Someone only needs to look at my phone or a watch, and the world of targeted advertising is right there in front of you, and the goods can arrive at a person’s door within hours.

Technology comes of age

Virtual reality flopped in the nineties because it failed to live up to our expectations. Like many technologies at the time, the things we wanted technology to do for us were still quite a few steps behind what was really possible. Fast-forward twenty years and the tables have turned. For perhaps the first time since the industrial revolution, the rate of technological change is outpacing our ability to keep up.

Virtual reality now possesses the functionality to match the hype, and yet we’re only just scratching the surface of its potential. Meanwhile the rise of technologies like mobile, AI, machine learning and robot process automation is posing fundamental questions about technology’s role in both society and in the workplace.

Disruptors race ahead, but road-bumps are slowing them down

Leading the digital race at the moment are the disruptors. As an entrepreneur armed with great ideas, some investment, an innovative culture and an army of millennial talent, you’re well-positioned to ride the digital wave and make hay while the sun shines. However, traditional companies and the powers that be are not quite ready to roll over and give up their control just yet, so expect road bumps ahead.

A case in point is the decision by TfL to suspend Uber’s licence in London. Uber’s problems are many and well-document, but chief among them is that it burst onto the scene at such speed and with such an immediate challenge to the status quo that the regulatory framework to accommodate it just didn’t exist.

Banning Uber from operating in the Capital has been framed as a public safety issue. But it is also designed to give the powers that be time to get their heads around how to integrate this young upstart into an established regulatory framework. In these situations, a few grey hairs may be required to navigate and influence the regulatory and political landscape.

Enterprises ride two-speed, given their shaky foundations

Challenges are also evident at the enterprise level, but theirs are somewhat different. They also see the potential and technologies including AI and robotic process automation are high on the agenda. Organisations are looking at ways to connect with their customers or engage their employees in new ways, while reducing operational costs and increasing efficiency.

But these technologies can only go as fast the capabilities that underpin them. A major part of the challenge is integrating the vast accumulated legacy landscape of applications and systems that must also be maintained, nursed, and supported, before innovation can even be considered.

Organisations are not blind to this issue. According to a recent report we commissioned, 88% of senior IT decision makers agree that modernised IT systems are critical to addressing the emerging requirements of the digital business. And yet according to the same study, just 33% of technology in large enterprises is optimised. Until that situation changes, the art of the possible will remain beyond the grasp of what is practical and doable.

Addressing the skills gap isn’t just about new talent

Even among those businesses who have modernised their IT infrastructure, there are a whole new set of challenges to overcome, notably a lack of available skills in key areas such as DevOps delivery and agile development.

Demand for IT skills is currently outpacing the worldwide growth in this talent pool. That imbalance will change over time as the greater focus on STEM subjects in schools begins to pay off, and younger, more digitally minded employees enter the workforce. In the meantime, a majority of organisations are looking to specialist services providers.

According to our report, just over half (51%) of all large organisations will look for help to implement robotic process automation, while even more still will rely upon third parties for the added complexities of intelligent (63%) and cognitive (64%) automation.

For organisations to ride the current wave of digital disruption, building the right mix of technology and skills is vital. But if they are truly to make their investments in digital technology count, they need to bring all their employees with them on the journey, new and old.

Augmenting, not replacing the workforce

Open any newspaper today and you will read stories about the rise of the robots and the growing threat to jobs posed by automation. I’m not going to sugar coat this; automation is already starting to replace thousands of low-skilled jobs, and it will eventually replace millions more.

But focusing on short-term job losses alone, is largely to miss a far more important point. Forrester predicts that by 2019, a quarter of all job tasks will be offloaded to software or robots. But according to the same report, these technologies will create a further 14 million jobs in the same period.

The problem is not that robots will steal our jobs in the future: it is that humans have been wasting their faculties on tedious tasks that are much better performed by artificial intelligence or software, such as rekeying data or answering routine queries.

Digitalisation offers organisations the opportunity to re-evaluate, re-skill and re-deploy the workforce to tasks that are more fulfilling, more sustainable and ultimately of more value in the long-term. Indeed, our own research found that more than half of global business leaders are confident that IA will augment the human workforce rather than replace existing roles.

Whatever you do, don’t get caught standing still

The pace at which traditional structures are being challenged has some people spooked. A standard response in this type of situation is either to try and slow things down or stop entirely. But organisations that understand the importance of digital transformation to their future relevance know that stasis is the kiss of death.

While others are scratching their heads and wondering what to do, the smartest organisations are putting the infrastructures in place to help manage change so that they can begin to explore the more fundamental questions of how to remain relevant in a digital world. ]They are putting one foot in front of the other, setting out a vision for the future and planning the journey ahead. For those that have made this transition, digitalisation is opening up endless possibilities for organisations in every sector. It’s time to jump onboard and enjoy the ride.

Source: information-age.com-Disrupt, transform or die. It’s time to enjoy the digital ride

Is your digital transformation process truly transformative?

Digital transformation is what big data was for organizations just a few short years ago. Everyone is talking about it, and organizations are scrambling to make sure it is a strategic initiative by having some sort of digital transformation process.

Just like big data, the term digital transformation gets its popularity from the size of its potential impact rather than being a new tool for improving operations. Since the first days of robotic automation in manufacturing, people have been using technology to improve and simplify work. Now, we are shifting the use of technology to a wider array of complex work, such as customer interactions, reporting and decision-making.

There are several reasons for this increased attention to digital: the pace of disruptive technology, the need to do more with less, the need to maintain competitive advantage and, above all, the need to be more customer-centric. Though digital tools and technologies significantly affect the way business is conducted, many organizations continue to struggle with them or struggle to put into place a comprehensive and effective digital transformation process.

Why are organizations struggling?

A report on the 2015 global digital business survey conducted by Deloitte and MIT Sloan Management Review said “maturing digital businesses are focused onintegrating digital technologies, such as social, mobile, analytics and cloud, in the service of transforming how their businesses work. Less-mature digital businesses are focused on solving discrete business problems with individual digital technologies.”

The root cause of organizations’ struggles seems to start with a key word — transformation — that often either gets overlooked or misinterpreted. Transformation can be defined as a significant organization-wide change that orients the organization in a new direction. This can include a change in its business or operating model. Transformation, however, is not merely an incremental improvement or transition to a new system or application.

Unfortunately, many organizations are not embarking on transformations. Instead, they are solving discrete business problems with digital technologies. This means they are creating one-off solutions for a single business problem rather than looking at an integrated approach to solve multiple business problems. Because these types of projects have digital components, they get mislabeled as digital transformations.

When this occurs, organizations struggle because the digital transformation process lacks an overarching purpose and plan to tie the efforts together. Ultimately, this lack of an overarching strategy results in confusion among those tasked with execution because they don’t know the following:

  1. What’s in. There are often no parameters or criteria to define what parts of the business need digitization projects or to help scope and prioritize efforts. For example, an organization that wants to use digital technology to improve its finance function will have no guiding criteria to help pinpoint which processes should be automated.
  2. What the right solution is. There are no criteria for determining the fitof the plethora of solutions available. Without clear goals, the organization can’t clearly articulate what features it needs, potentially resulting in overbuying or making expensive modifications afterward.
  3. How the pieces will fit together. There is often no holistic perspective on digital projects to help the organization understand the intersections and interdependencies between projects and the work they are accomplishing. This can result in post-implementation integration projects and add-ons.

How to tell if your efforts are transformational

Understanding the difference between a digital project and digital transformation is easier said than done, especially given that digital transformation should be comprised of interconnected digital projects.

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However, strategy, rather than technology, should be the guiding principle of the digital transformation process. Additionally, digital transformation tends to hinge on two characteristics: a focus on customer experience and its organization-wide impact.

The purpose of digital transformation is creating value, and that includes for the customer’s experience. Hence, organizations not only need to understand their customer’s journey, but must also use the impact on customers as one of the key criteria and measures of their digitization efforts.

The transformative work of an effective digital transformation process requires looking from the outside in, and that includes value chains and cross-functional, end-to-end processes. To ensure organizations stay focused on the end user, digital efforts must help break down operational silos and improve collaboration for managing customer value.

To categorize the initiatives in its digital transformation process, each organization should ask itself these four questions:

  1. What’s the value to the customer? Is the effort focused on creating customer value, and is that value clearly quantified to measure success? If the focus is on the steps and efficiencies of a business process and not on establishing the customer value, it’s not transformational.
  2. Are we changing how we work? Is the initiative going to change how we conduct business or does it simply apply a new technology to how we’ve always done things? As noted earlier, there is often a misconception that digital tools are equivalent to digital transformation.
  3. Who’s involved? Is the effort limited to a specific business silo — e.g., marketing or finance? Because transformations are organization-wide, they are cross-functional by nature.
  4. Why are we doing this? Transformations are focused on changing how the organization conducts business in an effort to create value. If the focus of the effort is solely on cost reduction, then it’s not transformational.

Though only a high-level start, the answers to these questions can help organizations start to clear up some of the confusion around their digital transformation process.

Source: searcherp.techtarget.com-Is your digital transformation process truly transformative?

Why Digital Transformation is a Must for Organizations in 2018 | Analytics Insight

With innovation cycles getting shortened accompanied by intense competition and globalization related challenges, the analytics-driven transformation has become go-to for almost all businesses. With challenges also come opportunities from which the companies can benefit. HCL’s corporate vice president, Anand Birje says, “Over the past four or five years, enterprises were pushed hard to do anything in the field of analytics, big data and digital transformation. They were being pushed because there was this fear about what their competitors might be doing, so there was this feeling that they had to do something digital.” Digital transformation presents rich opportunities and developing a strategic plan to manage data assets can lead to long-term success.

Customers now have a wide range of providers, thanks to globalization that has made it possible for competitors to emerge from anywhere and with any kind of price range. To maintain a value-driven relationship with customers, companies are expected to operate with a slim margin, balancing both profits and product innovation. According to a Gartner report, almost 32 percent of top leaders in big organizations have confirmed to be undergoing a digital transformation in their processes.

Rather than simply enhancing or supporting traditional methods, the transformation stage of digital signifies new types of innovation using software and computerized technologies strategically. Industry 4.0, also referred to as the fourth industrial revolution, emphasizes the importance of bridging the gap between the physical and digital realms. Technologies like cloud computing, cyber-physical systems, Internet of Things (IoT), cognitive computing together help create what is called as a ‘smart factory’.

One of the major banks was using an agile and scrum method for proof of concepts with a timeframe between 8 to 12 weeks. With numerous product cycles and users not willing to wait for final products, the entire process got confusing. An organization must first develop a business value chain which specifies the objectives and goals clearly and then proceed to build its big data and analytics capabilities.

Large volumes of data can be turned into assets for organizations with proper digital efforts and value chain development. Data related to research and development, product, engineering, supply chain, manufacturing, production keep on piling up. A unified view of the business helps extract data of significance from disparate systems like ERP, SCADA, and CRM. This helps gain useful insights that further helps in the planning and decision making course for a company.

In addition to the big data an organization owns, IoT data in the data cloud adds significant volume to datasets. Effective big data analytical solutions need to be deployed to manage the datasets and generate perishable insights to take actions at the moment. Variances and consequence of any kind of business processes can be linked using predictive analytics tools. For instance, production lines slowing down is a consequence which can be attributed to say a variance in a supplier’s component having a design defect that doesn’t match what is required in the product assembly. Most importantly business processes are time sensitive and big data provides a real-time decision-making opportunity that can strategically improve a company’s performance and take it above other competitors.

As is true for any kind of change, re-architecting the business structure also means changing the way employees work, changing their responsibilities, reporting relationships and overall changing the organizational culture. Training and support of those involved in transformation efforts should be taken care of by the human resources department for a smooth and effective transition to take place.

Now the hype surrounding big data, analytics and digital transformation has reached a dead end. Companies can be sure of success only when they do their homework on sound strategic planning and align project initiatives with a long-term vision and deploy the best available tools and resources in line with absolute strategic clarity.

Source: Analytics Insight-Why Digital Transformation is a Must for Organizations in 2018

In a world of bots, AI and big data, how can employees and businesses survive?

With the Fourth Industrial Revolution hailed as bringing about a digital boom on the global economy, many may think: “Are we not we already well into the digital economy era?”.

It is true that there are now countless apps and computing technologies that allow people to conveniently hail a taxi, book a hotel, or clean floors with a robot. Smart machines can also already drive cars, diagnose patients, and manage finances more effectively than humans. But in a new analysis – What to do when Machines do Everything – we found the real boom is only just beginning.

In the years to come, AI will create further value, for example around safeguarding financial health, insuring families, and enabling people to heal and govern themselves – and this is just the beginning. Systems of intelligence, which combine hardware, AI software, data, and human input will help improve countless customer experiences, business processes, products and organisations.

Jobs and businesses will undoubtedly be impacted. One of the most common concerns is that the bots will take over everything. While it is true that machines will replace some occupations, and make some current skills irrelevant as robots do more of the everyday, mundane tasks, people will also become even more vital to helping an organization innovate and grow.

Machines are getting smarter every day and doing more and more; they will soon change our lives and our work in ways that are easy to imagine but hard to predict. The debate has, thus far, been in the hands of theoreticians: it is now time for pragmatists to take over. These pragmatists – whether companies or individuals realize that machines will replace some occupations, putting pressure on wages for some jobs and making some current skills irrelevant. However, machines will also enhance the human element of work. In fact, more than 80 percent of teaching, nursing, legal and coding jobs will be made more productive, beneficial and satisfying through artificial intelligence. While machines will learn to do more things, and will perform tasks more economically, more efficiently and with fewer errors, this will augment the human experience, generating more jobs, even creating professions that do not even exist yet.

As we expect 20 percent of the more administrative portions of a job go to a machine, the future workforce will require more people to fill jobs currently in short supply: data scientists, designers, technologists, and strategists, as well as create jobs that do not even exist yet.

Materials, Machines and Models – the formula to ‘win’ the Fourth Industrial Revolution

The digital revolution is fundamentally a growth story. While the future of an automated workforce can be frightening, the artificial intelligence (AI) revolution will create a huge wave of opportunity for businesses and individuals who are prepared. Typically, every previous revolution has followed such a pattern: innovation bubble, stall, and then boom. The Fourth Industrial Revolution will be no different. Early digital economy winners have aligned the Three Ms – materials, machines and models – and use them to their advantage.

Firstly, sensors will be required on nearly every “thing” – IoT devices, RFID sensors, accelerometers, motion sensors, etc. – to create massive amounts of data that is the new raw material of the digital economy. Secondly, systems of intelligence (machines) will be required to “process” this new raw material data to improve business productivity and customer. Finally, new commercial models will emerge that monetise services and solutions based on these systems of intelligence.

However, without the right business model to support data-fuelled machines, companies will struggle to be successful. Business leaders will need to decide how to instrument everything, how to harvest all the resulting data, how to ask the right questions of the data, and to “teach” the AI systems what to look for, what is meaningful, and what is immaterial.

Five essential plays for winning with AI

Each of the Three Ms in today’s business success formula must be activated to move AHEAD. There are five distinct approaches for not only winning with AI but surviving and thriving in this time of transition – automation, halos, enhancement, abundance and discovery.

1. Automation: Outsource rote, computational work to the new machine. This is how Netflix automated away Blockbuster.

2. Halos: Maximise the data products and people generate – via their connected and on-line behaviours – to create new customer experiences and business models. GE and Nike are instrumenting their products, surrounding them with halos of data, creating more personalised customer service and products as a result.

3. Enhancement: View the computer as a colleague that can help increase job productivity and satisfaction. For example, a car’s GPS system improves driver performance by enhancing navigation, providing alerts for road hazards, and ensuring the fastest route is taken on any given journey.

4. Abundance: Use the machine to open up vast new markets by dropping the price-point of existing offers. For example, UK-based start-up, Brolly, has created an AI enabled insurance advisor to allow customers to understand, manage and buy the insurance they need.

5. Discovery: Maximise use of AI to conceive new products, new services, and new industries. Just as Edison’s light bulb led to discoveries in radio, television, and transistors, today’s new machines will lead to the next generation of invention.

The world is changing faster than ever before. Our children and grandchildren will study the advances of the Fourth Industrial Revolution, just as we studied the great technological innovations of Albert Einstein and Thomas Edison. Automation and the rise of AI are truly deep and unstoppable forces – they are the core of this incredible pace of change. The shift to the new machine and AI is inevitable but if managed wisely, it will ultimately be a positive force for companies, individuals, and society. Leaders can compete and win in the next phase of global business by driving productivity, customer intimacy, and innovation if they align the three Ms and think AHEAD.

It is time to build our own future, complete with a sense of optimism and confidence. When machines do everything, there will still be a lot for companies to do. It is time to start now or risk being left behind.

Ben Pring, Vice President, Cognizant’s Center for the Future of Work and co-author of What to do when Machines do Everything

Source: itproportal-In a world of bots, AI and big data, how can employees and businesses survive?

Is your digital transformation process truly transformative?

Digital transformation is what big data was for organizations just a few short years ago. Everyone is talking about it, and organizations are scrambling to make sure it is a strategic initiative by having some sort of digital transformation process.

Just like big data, the term digital transformation gets its popularity from the size of its potential impact rather than being a new tool for improving operations. Since the first days of robotic automation in manufacturing, people have been using technology to improve and simplify work. Now, we are shifting the use of technology to a wider array of complex work, such as customer interactions, reporting and decision-making.

There are several reasons for this increased attention to digital: the pace of disruptive technology, the need to do more with less, the need to maintain competitive advantage and, above all, the need to be more customer-centric. Though digital tools and technologies significantly affect the way business is conducted, many organizations continue to struggle with them or struggle to put into place a comprehensive and effective digital transformation process.

Why are organizations struggling?

A report on the 2015 global digital business survey conducted by Deloitte and MIT Sloan Management Review said “maturing digital businesses are focused onintegrating digital technologies, such as social, mobile, analytics and cloud, in the service of transforming how their businesses work. Less-mature digital businesses are focused on solving discrete business problems with individual digital technologies.”

The root cause of organizations’ struggles seems to start with a key word — transformation — that often either gets overlooked or misinterpreted. Transformation can be defined as a significant organization-wide change that orients the organization in a new direction. This can include a change in its business or operating model. Transformation, however, is not merely an incremental improvement or transition to a new system or application.

Unfortunately, many organizations are not embarking on transformations. Instead, they are solving discrete business problems with digital technologies. This means they are creating one-off solutions for a single business problem rather than looking at an integrated approach to solve multiple business problems. Because these types of projects have digital components, they get mislabeled as digital transformations.

When this occurs, organizations struggle because the digital transformation process lacks an overarching purpose and plan to tie the efforts together. Ultimately, this lack of an overarching strategy results in confusion among those tasked with execution because they don’t know the following:

  1. What’s in. There are often no parameters or criteria to define what parts of the business need digitization projects or to help scope and prioritize efforts. For example, an organization that wants to use digital technology to improve its finance function will have no guiding criteria to help pinpoint which processes should be automated.
  2. What the right solution is. There are no criteria for determining the fitof the plethora of solutions available. Without clear goals, the organization can’t clearly articulate what features it needs, potentially resulting in overbuying or making expensive modifications afterward.
  3. How the pieces will fit together. There is often no holistic perspective on digital projects to help the organization understand the intersections and interdependencies between projects and the work they are accomplishing. This can result in post-implementation integration projects and add-ons.

How to tell if your efforts are transformational

Understanding the difference between a digital project and digital transformation is easier said than done, especially given that digital transformation should be comprised of interconnected digital projects.

However, strategy, rather than technology, should be the guiding principle of the digital transformation process. Additionally, digital transformation tends to hinge on two characteristics: a focus on customer experience and its organization-wide impact.

The purpose of digital transformation is creating value, and that includes for the customer’s experience. Hence, organizations not only need to understand their customer’s journey, but must also use the impact on customers as one of the key criteria and measures of their digitization efforts.

The transformative work of an effective digital transformation process requires looking from the outside in, and that includes value chains and cross-functional, end-to-end processes. To ensure organizations stay focused on the end user, digital efforts must help break down operational silos and improve collaboration for managing customer value.

To categorize the initiatives in its digital transformation process, each organization should ask itself these four questions:

  1. What’s the value to the customer? Is the effort focused on creating customer value, and is that value clearly quantified to measure success? If the focus is on the steps and efficiencies of a business process and not on establishing the customer value, it’s not transformational.
  2. Are we changing how we work? Is the initiative going to change how we conduct business or does it simply apply a new technology to how we’ve always done things? As noted earlier, there is often a misconception that digital tools are equivalent to digital transformation.
  3. Who’s involved? Is the effort limited to a specific business silo — e.g., marketing or finance? Because transformations are organization-wide, they are cross-functional by nature.
  4. Why are we doing this? Transformations are focused on changing how the organization conducts business in an effort to create value. If the focus of the effort is solely on cost reduction, then it’s not transformational.

Though only a high-level start, the answers to these questions can help organizations start to clear up some of the confusion around their digital transformation process.

 

Source: TechTarget-Is your digital transformation process truly transformative?

Connectivity is the key to digital business

A frequent theme of this blog is my disdain for jargon, but sometimes one has to admit defeat. I battled for years against what today we call “outsourcing governance,” arguing it was not governance at all, and I had the dictionary definitions to prove it. I thought “cloud” was just a euphemism for the way companies could repackage existing assets, and that the only new capability it offered was dynamic provisioning. And don’t even get me started on what passes for “innovation” in the outsourcing industry.

And, yet, I am at a loss for words to describe the age upon us. I suppose most of the world has begun to call it “digital,” but, to my ear, this doesn’t fully capture it. Among friends, I’ve started calling it “the age of inter-everything,” enabled, of course, by the inter-net. In the end, it’s not the name that’s important. It’s the fact that most enterprises are missing the boat.

Here is my manifesto for how organizations will gain competitive advantage starting today:

The future is about connectivity. Most of the darlings of Wall Street and the business media own few assets. Instead, they make connections. You know the ones: Uber, Google, Apple, AirBnB, AliBaba. The companies that will win going forward will use technology and a deep understanding of human behavior, enabled by analytics, to constantly make new connections. These connections could be between systems in the traditional sense, but they also will be between people. They definitely will be between systems and people. They also will be between providers, companies, governments, regulators, communities and even competitors. These connections will be continually redefined; the ones that are made today may not be as valuable as the ones made tomorrow because, by their very nature, networks add value when they expand.

So the enterprises that win will be able to connect and disconnect with blazing speed. Most of us already understand the value of the inter-connected world, but many of us struggle to make and break those connections at the speed the market demands.

By connecting data, systems, analytics and human behavior, an agri-business enterprise will be able to offer a tailored seed solution for farmers to optimize their crops every year; oil and gas companies will be able to optimize production for demand in ways they haven’t been able to do before; a healthcare insurance company will be able to identify risks and illnesses even before their patients do; a chemicals business will be able to develop compounds their manufacturing customers don’t even know they need yet, and life sciences companies will be able to deliver safe, proven drugs to market far faster than they do today. Enterprises that want to be relevant tomorrow need to ask themselves: what new connections can we make?

Long before we had enabling technologies like the Internet of Things or machine learning, famous designer Charles Eames said, “Eventually everything connects—people, ideas, objects. The quality of the connections is the key to quality per se.” This idea will be the defining characteristic of our future.

Source: Cio.com-Connectivity is the key to digital business