Timing is everything. Market research, consumer trends, and digital transformation. They all share the structure of right time, right place for the product, service or, in this case, digital trend, and directly impact how work gets done. Change on a massive scale once took centuries to complete. Today, change happens in real-time and reshapes businesses in months, not years.
Jurassic Changes in the Digital Age
To stay in the market and ahead of competitors, it’s important for leaders to embrace digital and all it entails. Even within the digital transformation of work, there will be three periods of growth, in which some businesses have blossomed and others have failed. Disruption is a given. Hyper-digital is now. Universal transformation is just around the corner.
- Disruption – add the word “tech” to any industry and even the industry name embraces the technology to create value and improve customer service growing response times to minutes, not hours or days. Demand for instant assistance grew.
- Hyper-digital –What was once a luxury or novelty quickly became a household or business “can’t do without it” device or service. Digital technology adoption accelerated at lightning speed.
- Universal Transformation - The convenience of all-in-one will be widely adopted and required.
As we look to year 2020, we’re firmly in the hyper-digital age. Understanding technologies, we have now such as Big Data and analytics, and how to utilize their information for business is critical for making plans. This information can help prioritize budgets, schedule implementations, and even plan out investments into what and when to maximize returns.
However, this will require strategic planning, and a roadmap to guide and time technology application and implementation for businesses. It will be important for leaders to know why. Why they need this particular technology at this specific time, and how it will help them move forward in their business goals.
Mobile and digital consumers have reached unprecedented levels. Departments from marketing, sales, IT, and data teams race to keep up with the demand for instant information. Hyper-vigilance in today’s hyper-digital world requires humans to upgrade their abilities, and learn how to delegate data to the technologies available such as AI and analytics systems.
As digital technologies get faster, smaller, cheaper, and more powerful, demand will only grow for integrating human and robot interaction. But, while technologies can change on a massive scale in a short amount of time, humans don’t.AI systems that are dependent on real-time analytics
offer relevant and personalized experiences. Add to that the rise and proliferation of mobile and connected devices as well as the associated data used by AI systems to deliver actionable insights, it’s no wonder Big Data and business analytics will see such a strong impact over the next two to seven years.
Analytics Are Key
Digital technologies are no longer “nice-to-have”, they are “must have.” Knowing and understanding Web Analytics is key to automation in the digital age. It’s not a matter necessarily of getting the information faster; it’s about taking the information and developing actionable insights faster. Businesses that lag behind digitally may find their markets overturned. While those leaders who embrace and focus their digital strategy will succeed in the universal transformation.
Having a clear vision and digital strategy is critical to the success of any enterprise wishing to compete. No longer can businesses wait to see what will happen. Their actions can affect revenue growth and cost savings, particularly as their digital leadership relates to their clients and customers.
Data is infused within every aspect of business and our daily lives. Forward-looking leaders can’t afford to overlook the emerging trends in AI and analytics in 2019
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