Welcome!

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

Related Topics: @CloudExpo, Artificial Intelligence, @DXWorldExpo, @ThingsExpo

@CloudExpo: Blog Feed Post

Open Ecosystems for #DX | @CloudExpo #SmartCities #DigitalTransformation

As internal resistance to change is overcome, the connected economy will become even more connected

Are you open to new ideas, and given a compelling choice are you really prepared to change? That’s what informed CEOs are asking their C-suite leadership team. The context of those questions is about determining who is most qualified to guide the organization’s digital transformation journey. It’s also about setting expectations for C-level executives to partner.

IT and business leaders must acknowledge that they’ve likely reached a significant turning point. Business technology advances are disrupting the legacy status quo and bringing huge market turmoil in their wake. Industries are converging, and unfamiliar competitors are surfacing.

Granted, that convergence is creating opportunities for growth by shifting from products and services made by solo entities, to new cross-sector customer experiences built via strategic partnerships. But it’s also intensifying market competition. One company’s convergence can become another’s encroachment. So, how do you navigate through this labyrinth?

Open Collaboration in the Connected Economy
Welcome to the ‘connected economy’ (CE) - a new business reality in which value is created through technology-enabled links among people, open digital systems and business partner networks. Across industries, huge opportunities are available for savvy organizations to become connected economy leaders.

Implementing connected business models and associated processes can help you significantly increase revenue growth and enhance your competitive edge. At the same time, a very real downside to falling behind exists: laggards risk becoming prey to disruptive innovations.

It’s a scenario in which a competitor with a completely different business model can put your traditional revenue stream at risk -- or worse, put you out of business. So, with that backdrop, how do you survive and prosper? What does it take to be a leader in the connected economy?

IBM asked Harvard Business Review (HBR) Analytic Services to uncover the drivers for business change, assess the preparedness of organizations, and identify the types of adjustments we must make to capitalize on emerging opportunities. Here’s what they found.

A Profile of the Global CE Leaders
Whatever their industry, the global CE leaders see their world rapidly changing, and they’re determined to be at the forefront of that change in order to remain relevant and claim their competitive advantage.

Their success is increasingly dependent on participation in broader business ecosystems. That being said, even the CE followers and laggards recognize the growing importance of tighter connections with other organizations in adjacent industries.

However, CE leaders are radically better positioned within their own business ecosystems -- something that could lead to a long-term advantage. The rest are under pressure to catch up. Fifty-two percent say that a substantial part of their revenue is already under threat from digital disruption.

To counter that threat, savvy organizations are changing how they operate. Moreover, the progressive CE leaders are already reaping the rewards of their new connected business models.

They’ve seen significantly stronger revenue growth over the past two years than their less-connected rivals -- in large part due to their ability to exploit information at speed through their use of hardware, software, and networking technologies.

How CE Leaders Leverage IT Infrastructure
What really sets CE leaders apart is the degree to which they recognize the threat from digital disruption and the value of their IT leadership in bringing them into the connected economy. That awareness is causing them to make digital initiatives a C-level priority.

CE leaders have built relationships between CIOs or CTOs and line of business (LoB) leaders, based on collaborative engagement. They invest more in digital technology, skills, and projects. They’ve created digital transition teams, while emphasizing that digital is part of everyone’s job.

That being said, only 18 percent of survey respondents say that their organization have applied progressive CE business models or open innovation to a significant extent. A key to success is the ability to exploit information at speed through the use of open hardware, software, and networking technologies.

As a result, 48 percent of CE leaders have seen double-digit revenue growth. And three times as many CE leaders claim growth of 30 percent or more, when compared to the laggards.

Common Traits of Proven CE Market Leaders
CE leaders are much more likely than other companies to:

  • Have C-level executives involved in leading digital initiatives.
  • Dedicate teams to help with various aspects of the transformation.
  • Break down organizational silos through restructuring and fostering cross-functional collaboration.
  • Invest in a data-centric IT infrastructure needed to build their digital platform.
  • Recognize the need for new, more advanced skills, and ensure their teams are acquiring or developing them.
  • Have a “business innovator” CIO or CTO.

HBR believes C-level involvement is crucial, given the profound changes that must take place to transition to a connected-economy business model. In fact, all senior executives at CE leader organizations take an active role in their digital business initiatives.

Why Open Innovation Ecosystems Matter
As internal resistance to change is overcome, the connected economy will become even more connected, with success relying on participation in a broader business ecosystem, defined as an interdependent network of collaborative individuals and organizations.

More than half of all survey respondents (and three-quarters of CE leaders) said their organization’s success is tied to relationships with organizations in adjacent industries. And, 80 percent of CE leaders are more likely to be favorably positioned within their partner ecosystem.

In conclusion, these strategic shifts don’t just happen; they’re led by change agents. CE leaders have made this transition to open innovation a C-level priority. They’re significantly more likely to benefit from business-innovator or transformational CIOs and CTOs who drive cross-functional integration and collaboration between IT and other parts of the business.

Not only are they breaking down silos inside their own organizations, they’re connecting to new business partners that apply open technologies in creative ways, as part of a broader digital business transformation model. This is the new normal; leaders adopt open ecosystems.

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.

@ThingsExpo Stories
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...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
I think DevOps is now a rambunctious teenager - it's starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
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...
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
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.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
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...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...
In his session at @ThingsExpo, Dr. Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, presented the findings of a series of six detailed case studies of how large corporations are implementing IoT. The session explored how IoT has improved their economic performance, had major impacts on business models and resulted in impressive ROIs. The companies covered span manufacturing and services firms. He also explored servicification, how manufacturing firms shift from se...
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...