Consider this: two-thirds of digital transformation projects fail mainly due to workforce behavioral issues[i]. Employee resistance and disengagement are major hurdles to digital transformation. In a sense, this is as it ever was: employee engagement has always been critical to driving any organizational change and digital transformation is no exception. When employees feel connected and engaged with organizational objectives, they are likely to put in 57% more effort[ii]. Therefore, the question remains: how can organizations turn disinterested and apathetic employees into enthusiastic digital advocates and ambassadors? A key factor can be gamification – the use of game design techniques in an enterprise environment to make tasks fun and engaging. Read more »
Senior executives in every industry – from media to electronics to paint manufacturing – face a bewildering array of new digital opportunities.
They are paying attention, but they have few signposts to guide them. Moreover, they are also faced with a barrage of advice – sometimes conflicting and often wrong – about moving their business into the digital world. In our three years researching digital transformation with the MIT Center for Digital Business, we discovered that many commonly held perceptions about digital transformation are actually myths. These myths can be dangerously misleading and lead to expensive mistakes for organizations as they plot their course in the new digital economy. It is time to debunk them! Read more »
“We don’t just want to lead the world in releasing government data – our aim is to make the UK an international role model in exploiting the potential of Open Data to generate new businesses and stimulate growth.”
These are ambitious words from Francis Maude — the Cabinet Minister entrusted with driving Open Data initiatives in the UK — and it is clear that the UK is one of the frontrunners in Open Data. Our research has shown that the UK belongs to a select group of Open Data achievers—an elite we like to call “Trend Setters”. These Trend Setters display three key characteristics: political support (100%), sharing of highly comprehensive data (80%), and substantial user participation across their Open Data portals (60%). These three criteria are common for all the high-achieving countries and we believe they are therefore critical for tapping into the economic benefits of Open Data. Read more »
Bring Your Own Device has all the hallmarks of a populist movement – it’s an intuitive, easily-grasped concept; it has intrinsic appeal to the Generation Y; and it resonates with our device-happy world. But on more rationale grounds, why should companies go down the BYOD route? One compelling rationale might appear to be the prospect of significant cost savings. With organizations no longer having to provide its people with computing devices or related software, it would seem fair to assume that BYOD might offer a cost advantage. However, what we found revealed a completely different picture – BYOD does not offer significant cost savings. Far from it, in fact. Read more »
The billion-dollar prize: how Digital Purchasing can deliver mouth-watering cost Savings through better spend control
It was Peter Drucker who put it so succinctly: “What gets measured gets managed.” That statement from the justly feted business sage holds especially true for spend analysis – a methodologythat enables organizations to wrest more control over their spend.Spend analysis tools are smart – they collect spend data from across different enterprise source systems, classify this data into a standardized format, enrich the data with complementary information around supplier, category, and usage, and finally, analyze the resultant spend. Read more »
Sometimes, you can have too much of a good thing, as one retailer found out the hard way.
It embraced the new digital world with enthusiasm, but ended up introducing nine applications, with 12 functionalities, using five different technologies. These applications, each with multiple functionalities, resulted in inconsistent, uncoordinated service offerings that not only confused customers but eventually led to increased costs, breached security policies and a damaged brand image.
You can draw a number of lessons from this example, but what is striking is that the retailer had no governance structure for its digital initiatives. This can be a glaring omission in a digital world where initiatives can come from so many different directions. One senior executive from Pfizer accurately summed up this environment when he said, “We have many different brands in many markets, so when it comes to digital opportunities, we can have one thousand flowers blooming – and that’s not really scalable to any of our stakeholders.” Read more »
… tough choices for IT as digital transforms insurance into an information industry
Insurance does not enjoy an enviable position in people’s perceptions. For many, it is simply a necessary evil – a product we all need but very few of us are inclined to see as more than something we want to get at the right price (which usually means as cheaply as possible for the cover we need).
However, the advent of digital is changing the way we buy. Customers seeking convenience, flexibility and high standards of quality and customer care can now readily shop around, compare prices and experiences and find different ways of sourcing insurance. For example, aggregators enable quick and easy comparison of prices and features. Social networks offer new opportunities to reinvent the mutualisation of risk. And innovators in other industries are bundling insurance products into service packages, such as, for example, car insurance as part of an overall “pay as you drive” package. Read more »
How digital is revolutionizing the entire business landscape
What do a Chilean copper mine and a high-end luxury goods organization have in common? Digital. Or, to put it more precisely, they are leaders of digital transformation in their industries — what we call the ‘Digirati’.
When the MIT CDB and Capgemini Consulting began a long-term research effort into the impact of digital on business last year, two findings emerged that resonated strongly. First, that ‘Digiratis’ — those who were delivering a fundamental transformation of their business — were few and far between. Second, that digital was driving change in all industries, from the obvious suspects in the media sector to the less familiar bricks-and-mortar giants of manufacturing. These are the findings that we see so strongly in practice at Codelco, a Chilean copper mining organization and Burberry, the luxury goods firm. Read more »
A recent job offer for an intern community manager position at Quechua spotlighted the importance of a “social influence score” such as Klout. Indeed, for the first time in France, this job offer required candidates to have a minimum “Klout score” in order to be eligible for the position (35 in this case).
As some of you may know, Klout is Web-based company that scores individuals based on their influence on social networks, based on a rating from 1 to 100. It uses various data to calculate the score, such Twitter following and follower counts, amount of content published, retweets, Facebook comments and likes, and much more. Read more »