Welcome!

Containers Expo Blog Authors: Elizabeth White, Yeshim Deniz, Pat Romanski, Liz McMillan, Ravi Rajamiyer

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.

IoT & Smart Cities Stories
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
SYS-CON Events announced today that IoT Global Network has been named “Media Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. The IoT Global Network is a platform where you can connect with industry experts and network across the IoT community to build the successful IoT business of the future.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.