Welcome!

CRM Authors: Xenia von Wedel, Ian Khan, PR.com Newswire, Steve Mordue

Related Topics: @ThingsExpo, @CloudExpo, @DXWorldExpo

@ThingsExpo: Article

Strategies for a Digital Age | @ThingsExpo #IoT #M2M #DigitalTransformation

Measuring the pace of change in the fourth industrial revolution

Technologies help us deliver on a business strategy.  Without a strategy, there is no rationale for deploying technologies.  In addition, there is no rationale for digital transformation, unless there is a need for business transformation.  If you believe this as we do, then strategy development will be a priority.  Strategies, however, are developed under the guidance of a doctrine.  The purpose of a doctrine is to create a high level understanding of what we we want to achieve with our strategy, and the concepts that must be employed to achieve it. An organization's doctrine will guide strategy development, and the tactics needed to achieve a goal.

An example of a doctrine is, "We will be a fast follower, and excel at quickly manufacturing and delivering popular fashions." With this doctrine, the company can now develop strategies that align with the doctrine.

Many executives consider digital transformation important, but an IT issue.  We, however, believe IT serves only one purpose - supporting the needs and strategies of the business.  If the business doesn't perceive a need, or have a business strategy that requires digital transformation, then there is no transformation role for IT to play. All of our research, however, concludes that organizations must be engaged in business and digital transformation or they will fail at winning in the Fourth Industrial Revolution.

Digital doctrines and strategies must come from the top, as they require an intimate understanding of the goals, doctrines and strategies of the organization, and the resources available to achieve them.  Grassroots efforts to transform a company will fail, as they are too slow to compete against engaged, focused leaders.

Leaders must have an intimate understanding of how markets are changing, by how much, and the technologies that are supporting these changes.  We all watched as advertising and sales expanded quickly from brick and mortar locations, to search engines, to online auctions, mobile retailer apps/websites, and now to online classified, online markets and sharing economy platforms.  Do we fully understand consumers' path-to-purchase journeys in these evolving digital environments?  Do we understand where traditional path-to-purchase journeys intersect with digital journeys?  One thing we do know for certain, as a result of our research, is that consumers are altering their buying habits to take advantage of the convenience, market feedback and in-depth product information available in these mobile and digital markets.  The need now is to measure how fast buying habits and shopping behaviors are changing, which is not easy.  Many new behaviors and trends are outside of traditional measurements.

An additional challenge for leaders is measuring the pace of market change, and aligning resources and priorities to ensure we are changing, if not at the same pace, at least at a pace ahead of our competition. What units of measurement will capture the speed of change?  What data sources will provide the data necessary for analysis, and how do we capture the data?  Once we have a methodology in place for measuring the pace of market change, how do we then measure the pace of our own changes inside our organizations and in those of our competitors so we know how we are doing?

Download my latest report, "How Digital Thinking Separates Retail Leaders from Laggards."

Watch the 3-minute video on digital thinking in retail.

Follow Kevin Benedict on Twitter @krbenedict

More Stories By Kevin Benedict

Kevin Benedict serves as the Senior Vice President, Solutions Strategy, at Regalix, a Silicon Valley based company, focused on bringing the best strategies, digital technologies, processes and people together to deliver improved customer experiences, journeys and success through the combination of intelligent solutions, analytics, automation and services. He is a popular writer, speaker and futurist, and in the past 8 years he has taught workshops for large enterprises and government agencies in 18 different countries. He has over 32 years of experience working with strategic enterprise IT solutions and business processes, and he is also a veteran executive working with both solution and services companies. He has written dozens of technology and strategy reports, over a thousand articles, interviewed hundreds of technology experts, and produced videos on the future of digital technologies and their impact on industries.

IoT & Smart Cities Stories
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
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...
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.
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...
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 info@dxworldexpo.com. Miami Blockchain Event by FinTechEXPOalso offers sp...
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.
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
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.
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.