Digital Leaders Blog

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Without Big Insight, Big Data Is Useless

Big Data is often heralded as a transformative force that will usher in a new era of data-driven decision making. However, many enterprises are finding themselves drowning in data, but with no better insight into the issues confronting their businesses, according to a new report from Forrester Inc.

A good summary of the report entitled “Digital Insights are the New Currency of Business" can be found at - Without Big Insight, Big Data Is Useless - CIO Today

As usual, all comments and feedback are very welcome.

Take care.

Jim…

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State of the Internet in Five Year's Time

According to Cisco's 10th annual Visual Networking Index, the number of people connected to the Internet will increase by one billion over the next five years, from 2.8 billion in 2014 to 3.9 billion by 2019, with much of the growth coming from emerging nations.

There will be an additional 10 billion new things connected to the Internet, from 14.2bn to 24.4bn connected devices, including smartphones, tablets, watches and sensors. Almost half of these connected devices will be things in our homes with other fast growing areas being wearables that improve our health and well-being, and cars that talk to each other and to us. This will herald a radical shift in how we connect to each other and the world around us especially with faster broadband speeds, increasing from from 20.3 Mps to 42.5…

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An interesting article by Business Insider reports that the future remains bleak for the US newspaper industry which has struggled for over a decade to adapt to the digital era. The May sale of the San Diego Union-Tribune for $85 million highlights the horrific slump in the value of "old media" companies in recent years. A decade ago, the newspaper was believed to be worth $1 billion. One estimate by the Pew Research Centre suggests that the valuation of once proud US metropolitan dailies including the Boston Globe, Philadelphia Inquirer, Chicago Sun-Times and Minneapolis Star-Tribune, have fallen by more than 90 percent from their peaks. Weekday circulation for the US daily newspaper sector has fallen by 17 percent over the last decade with a 50 percent decrease in as revenue.…

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Leading Digital Transformation

One of the best and most recent books on digital transformation is Leading Digital: Turning Technology into Business Transformation by Westerman, Bonnet and McAfee (2014).

Over a four year period, the authors studied a large number of ‘Digital Masters’ - defined as companies who were proactively using digital technologies to drive significantly higher levels of profit, productivity and performance - across a diverse range of industries. ‘Digital Masters’ were 26 percent more profitable than their average industry competitor; generating 9 percent more…

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Where Will Digital Disruption Lead Us?

'Disruptive innovation' is a term coined by Clayton Christensen in 1997.

In this very interesting video, James McQuivey, VP at Forrester Research, argues that the term itself has become disrupted by the digital era.

Under the ‘old disruption', very few people could disrupt because it required a tremendous amount of capital with the final product being used only by a small number of people. In the new digital era, by contrast, many people can participate in innovation because it costs so little and the ideas themselves multiply and spread with tremendous speed.

The future is not about looking at things as products or services, but as relationships with customers.

As usual, all feedback and comment very welcome.

Jim H…

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The Impact of Shared Customer Experiences

Our thoughts regarding the impact of digital disruption and ‘Digital Darwinism’ have been heavily influenced by the work of Brian Solis.

In this video, Brian discusses a wide range of issues relating to the impact of shared customer experiences on traditional approaches to sales, marketing and customer relationships.

‘Customers aren’t following the customer journey you designed because they’re too busy hacking it. No matter how much journey work you do, no matter how creative your marketing, no matter how responsive your website is, no matter how much technology you invest in, customers trust the experiences of others over your words aka branding and the path you’ve laid out for…

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Will You Become Obsolete?

Next week, in Abu Dhabi, we will be launching our new ‘Digital Leaders’ elective class on the Strathclyde Business School MBA programme. A key focus of the class is Digital Darwinism defined by Brian Solis as a position where technology and society evolve faster than our ability to adapt. There are already a large number of organisations who have become, or are becoming, digital dinosaurs due to their failure to adapt fast enough.
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According to the Economist, if universities were to face the same conditions over the next 10 to 20 years that daily newspapers faced over the last 10 to 20, then revenues would fall by more than half, employment in the industry would drop by nearly 30% and more than 700 institutions would shut their doors.

You can read the full article here - Terminal degrees

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Digital Leaders Urgently Required

More evidence of the need for Digital Business Leaders has emerged from a recent Forrester Research Report ‘The State of Digital Business in 2014’. While 74 percent of the business executives surveyed claimed to have a strategy for dealing with digital disruption, only 15 percent believed their company had the capability to execute the strategy.
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The Social Media Revolution

Erik Qualman of Socialnomics has recently updated his excellent Social Media Revolution video to a new 2014 edition. If you need to convince your senior management team to invest in social then just sit them down in front of this. Please click on the image to view the video on Youtube.

Socialnomics

All comments and feedback very welcome.

Take care.

Jim and Vincent

@DrJimHamill…

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