How Digital Champions Invest. Champions Direct Their Spending to Tech and IT Champions understand the importance of investing aggressively in digital—and, in particular, the need to direct a significant portion of those dollars to building world-class technology and IT capabilities.
Our survey found that the average digital maturity of champions across all relevant dimensions of technology and IT, including DevOps, cybersecurity, and Internet of Things, is 78—far ahead of the average score of 29 for laggards. We also found that champions are positioning themselves to expand that lead. They are directing 22% of their digital investments to technology and IT, while laggards are investing just 16%, on average. That relatively low level of investment could come at a price, as our analysis found that laggards that make the most progress tend to focus on both technology and data.
Investment in technology and IT also varies by industry. Calls to rein in the tech titans are getting louder. ON JULY 16th America’s House Judiciary Committee will summon representatives from four of the five big tech firms for a hearing entitled “Online Platforms and Market Power: Part 2”.
The question at hand is whether the big technology firms are using their clout to crush their rivals and stifle competition. Witnesses can expect a grilling from all sides. Although American policymakers are more polarised than ever, their fondness for tech-bashing is remarkably bipartisan. Growing antitrust scrutiny stems in part from the sheer size of the tech firms. The big five—Amazon, Apple, Alphabet, Facebook and Microsoft—are cumulatively valued at $4.2trn, representing one-seventh of America’s total stockmarket value. Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor's Picks. Strategy Profiler. WalkMe™ - Digital Adoption Platform. Largest companies 2008 vs. 2018, a lot has changed - Milford Asset. What a fascinating time to be an investor!
The world is changing at a phenomenal pace and nothing illustrates this better than looking at changes in rankings of the world’s largest companies. Mind you this is not a global trend, but region specific. Let me tell you more. How the last 10 years of business changed everything. Tactics are more important than strategy and less important than vision.
That appears to be the new set of rules in today’s business world. Businesses cannot simply follow in the footsteps of their larger rivals; they must forge their own path. In the past, transnational champions would compete alongside one another at the top of the global market economy. In today’s business world there is no second place, so following is not an option. Digital Transformation cartoon. “It is not about doing ‘digital marketing’, it is about marketing effectively in a digital world.” I really like this quote from Diageo CEO Ivan Menezes. It keeps the technology in perspective, relative to the consumer. It puts the onus on everyone, not just those with digital in their job title. In contrast, many organizations treat it as “doing digital.”
Inside the war between Spotify and Apple - Mar. 5, 2018. Parks, the chief content officer at Spotify from its founding until 2015, had a simple answer: Because Apple (AAPL) probably didn't think it needed to.
At the time, Apple's iTunes store had a dominant position in the music industry -- but for downloads, not streaming. Spotify was competing less against giants like Apple than streaming services like Pandora (P), MOG, Grooveshark and Rdio, all of which except Pandora have since shut down. And Apple didn't appear too worried about streaming or this latest upstart doing it.
"Companies that have a very successful business model typically hew to that model unless forced to pivot," Parks, now the executive chairman at Pluto TV, told CNN in an interview last week. It would be years before Apple, Google (GOOGL) and Amazon (AMZN) launched streaming products of their own. Adaptive Advantage. The Modern Marketing Model (M3) - The modern marketing model (M3) Your Experience Business is Built on a Digital Foundation — Start the Technology Transition Now. Professor Scott Galloway: How to Be a Winning Brand in 2017. Blockchain and the Future of the Firm - CIO Journal. - WSJ. Amazon’s Device Ambitions Speak Volumes - WSJ. Resetting the Go-to-Market Strategy As more customers research and buy through digital channels, marketing’s role expands and takes center stage: the marketing function is in the best position to maximize revenue by shaping customer journeys and leading them to a successful conclusion.
This expanded role requires that companies rework the marketing budget and spending mix, shifting more resources toward digital channels. Already, we are seeing a strong migration in spending. According to IDC, the typical B2B company spends about 4.5% of revenue on marketing (with about 40% going to digital), but newer cloud companies can spend as much as 10% (and sometimes even more). Companies shifting to pull marketing and embracing digital channels report improved results at lower costs. What Blockchain Means for the Sharing Economy. Executive Summary Blockchain technology is facilitating the emergence a new kind of radically decentralized organization.
These organizations — which have no director or CEO, or any sort of hierarchical structure — are administered, collectively, by individuals interacting on a blockchain. The Evolution of Trust in the Era of Platforms and Blockchain - CIO Journal. - WSJ. Amazon’s Alexa and Microsoft’s Cortana Will Soon Be Able to Talk to Each Other - WSJ. How Digital Leaders Are Transforming B2B Marketing. Resetting the Go-to-Market Strategy As more customers research and buy through digital channels, marketing’s role expands and takes center stage: the marketing function is in the best position to maximize revenue by shaping customer journeys and leading them to a successful conclusion.
This expanded role requires that companies rework the marketing budget and spending mix, shifting more resources toward digital channels. Already, we are seeing a strong migration in spending. Data-Driven Transformation. As is the case with any change program, the success of a data transformation is measured by sustained results—and those will not materialize without making the company and its culture data centric.
To prepare its organization for a digitized future, the company needs to move on four fronts: creating new roles and governance processes, instilling a data-centric culture, adopting new ways of working, and cultivating the necessary talent and skills. Many companies may be capable of managing this change on their own; but if a company faces competitive challenges that require a rapid transition, or if it is far behind in digitization or lacks the resources and capabilities to manage the transformation, it may benefit from adopting a build-operate-transfer model (which we discuss below).
A CEO's Guide to Digital Transformation. This article is part of an ongoing series exploring changes in the workplace and in the nature of work.
The first piece explored 12 megatrends, such as automation, big data, demographics, and diversity, that are revolutionizing the way work gets done. Subsequent publications will explore digital governance, talent, and culture. The success of a transformation depends on an organization’s leaders, especially the CEO. In digital transformations, the CEO is even more critical because of the magnitude of change, the degree of disruption, and the power of inertia.
Digital transformation requires new ways of working, not just new technology. Cloud Adoption Among Large Companies Set to Accelerate, McKinsey Studies Find - CIO Journal. The shift to cloud computing is about to begin a significant acceleration, with the biggest gains coming from large enterprises that have until now been slower to change, research from management consulting group McKinsey & Co. shows. “In the next three years, enterprises will make a fundamental shift from building IT to consuming IT,” a new report from McKinsey’s Silicon Valley group has found. The survey determined that 77% of companies in 2015 used traditionally built IT infrastructure as the primary environment for at least one workload, and that the percentage of such deployments will drop to 43% in 2018. While only about 25% of companies in 2015 used public infrastructure as a service as the primary environment for at least one workload, that percentage is expected to rise to 37% in 2018.
The IT as a Service Cloud Survey included about 800 CIOs and IT executives worldwide across a variety of industries, according to McKinsey. When Tech Bites Back: Innovation’s Dark Side. General Electric’s Bill Ruh: Start Digital Transformation With ‘Low-Hanging Fruit’ - CIO Journal. ORLANDO, Fla. — Topping the priority list for CIOs over the next 10 years will be providing the blueprint for digital transformation as their companies, in an era of slow growth, look to extract value from existing assets, said Bill Ruh, CEO of GE Digital. “The CIO has to be the hero of the story,” Mr. Ruh told an audience at the Gartner Symposium/ITxpo. And the story starts with IT addressing the “lower-hanging fruit,” applying change first inside the organization. “The model for the future is that the IT organization is going to shift to being the digital enabler for every industry,” said Mr.
Ruh, who is also General Electric Co.’s chief digital officer. Is Blockchain the Major Next Step in the Internet’s Evolution? - CIO Journal. - WSJ. From Music to Maps, How Apple’s iPhone Changed Business - WSJ. L’Oréal on why artificial intelligence is ‘a revolution' like the internet. L’Oréal has launched an artificial intelligence-powered Facebook Messenger bot as part of a drive to produce services for its beauty brands and learn more about consumers. In partnership with startup Automat Technologies, the beauty giant has developed a series of beauty services that will launch in the coming months on the Facebook Messenger platform. The first L’Oréal service, launching in Canada, will be a gifting service on the Messenger platform. The service looks to help consumers to find the right beauty box gift for their friends based on a series of questions that define their friend’s beauty profile and help consumers select the right brand and product mix at the right budget.
The company says it hopes to launch the service in the UK early 2018. Over the past two years, L’Oréal has embarked on a journey of digital transformation, in which it has aimed to build more services and products for its brands. Humans lick their wounds after losing to AI in poker - Jan. 31, 2017. The best poker player at Rivers Casino in Pittsburgh wasn't a human, but a machine. "Libratus," a computer program created by a Carnegie Mellon professor and student, dominated four professional poker players this month, accumulating a $1,766,250 lead in chips. "Halfway through the challenge we thought we were going to win," said Daniel McAulay. Ola expands Ola Play services for Prime users - Livemint. What does ‘digital transformation’ really mean? Fwd: What does 'digital transformation' really mean? - Marketing Week.
Alibaba's Jack Ma sees decades of pain as internet disrupts older economy. Alibaba Group's chairman Jack Ma said society should prepare for decades of pain as the internet disrupts the economy. Youtube. Need an Accountant? Try a Robot Instead - CFO Journal. Subscribed 2016 Opening Video. The BXT approach: Widening perspectives on digital transformation. In a business landscape rife with unsuccessful digital transformations, PwC Digital Services Leader John Riccio outlines BXT, PwC’s new framework to empower clients in embracing new technologies, agile ways of working and refocusing around customer experience design.
NSW offers free wi-fi for bus commuters. The NSW State Transit Authority has unveiled plans to offer free wifi for up to 50 buses on designated routes. This service, currently being trialled, will support mobile phones on public transport. If the trials are successful, up to 1000 buses across Sydney could be fitted with the wifi and supporting technology by year’s end.
Andrew Constance, minister for transport and infrastructure, said many people rely on being connected to their smartphone. They often use the time during a commute to catch up on news, emails and social media. Www.forbes. The Digital Imperative, Animated. One Thing Is Certain: 2017 Will Be Year of Uncertainty for CEOs. Look Who’s Back! Microsoft, Rebooted, Emerges as a Tech Leader. Digital Twin: Bringing the Physical and Digital Worlds Closer Together - CIO Journal. America’s Dazzling Tech Boom Has a Downside: Not Enough Jobs. The Future of Work: Less is More. How Telemedicine Is Transforming Health Care. After years of big promises, telemedicine is finally living up to its potential. Internet of Everything coming to change our lives. Internet of things paying off for more providers. The Fastest-Growing Format in Publishing: Audiobooks. Mobile Payments Will Triple in the US in 2016. Driverless trucks Australia: Uber effect could kill off jobs.
Platforms and the New Rules of Strategy - CIO Journal. 2016 Internet Trends Report. Facebook Doubles Down on Its Messenger App. The Morning Download: Tech Spending Declines Amid Shift to Digital Business - The CIO Report. E-Commerce Boom Roils Trucking Industry. Sponsor Generated Content for Intel: Intel IoT Readiness Assessment. Nike Adds Self-Lacing Shoes to Sneaker Arms Race. The Marketer: Disrupt or be disrupted. MIT Competition Addresses Economic Dislocation in the Digital Era - The CIO Report. Nike Adds Self-Lacing Shoes to Sneaker Arms Race. Baidu to Test Drive Autonomous Cars in the U.S. AT&T’s Ambitious Effort to Retrain More than 100,000 Workers - The CIO Report. LEGO engineered a remarkable turnaround of its business. How'd that happen?
The Fourth Industrial Revolution: what it means and how to respond. The Digital Evolution Index. The Rise of the Platform Economy. The Digitization of the Economy. The Future of the Internet. PIP Report Future of the Internet Predictions 031114. Preparing for the Fourth Industrial Revolution - The CIO Report. Amazon’s Colorful CTO Vogels Tells Startups to ‘Go Build!’ ‘Yeah!’ Brambles push into big data with BXB Digital in chase for Internet of Things. Could Self-Driving Cars Spell the End of Ownership? The Rise of the Platform Economy - The CIO Report.
Customer Experience is the Biggest Opportunity for Growth. For Mining Chiefs, Doomsday Scenarios Could Become Reality. Navigating a World of Digital Disruption. An Atlas of Strategy Traps. Marketers Haven't Mastered Digital Transformation. The Power of People in Digital Banking Transformation. A Leader’s Guide to “Always-On” Transformation. How to Jump-Start a Digital Transformation. The Power of People in Digital Banking Transformation. Digital, for All of Us. The Double Game of Digital Strategy. The Double Game of Digital Strategy. Make The Shift From Digital Marketing To Marketing In A Digital World. The Marketing Tech Landscape Isn't As Scary As You Think page 2. Stop Looking for Unicorns: Building Your Big Data Team page 2. The Line Between Useful and Pushy Personalization page 2. Digital Transformation Is More Than Skin Deep page 2. Designing a Better IoT page 2.