Companies that aren’t continuously reinventing their business in today’s hyper competitive business environment will end up watching from the sidelines while their market is disrupted. The digital transformation is shaking up business and launching the organizations that are willing to make this change forward with the ability to make smarter business decisions by acquiring more accurate data.
The adoption of advanced analytics, AI, and the success of any digital transformation relies on the data – and in a data-driven world, organizations can rethink many of its assumptions. In re-thinking old assumptions about a business, we can get to where value or opportunities emerge in different places than in a process-defined world.
I attended a "LEAN Construction Concepts and Benefits" session at the 2019 World of Concrete. The session was presented by Kristy Wolfe, a Professor at Bradley University who began her construction career with the United States Army Corps of Engineers in Germany. Something that she presented to the class really stuck with me.
Look at this picture. Do you see an older, scraggly woman? Try to look at the picture a different way…if you’re able to, you can see a younger, beautiful woman. This analogy is perfect for our industry, because we are used to the same old processes that have worked for many years. But, what kind of value and growth can be gained if we look at our businesses a little differently and accept a new vision? What if we move away from our everyday, process-driven worlds and transform to a world where data is the main driver. Real value would be delivered to our businesses and to our customers.
In a process-driven world, processes must be routine and allow consistently getting the defined result. Digital transformation transforms processes, making it faster and more reliable to focus on what needs to be done instead of getting trapped in the effort of getting processes right.
A data-driven world enables delivering an end-to-end customer experience. Customer satisfaction thrives when information exchange, visibility, and communication is involved. Customers love to have their needs met quickly the first time.
Hero Hint: Digital technologies deliver the data that is needed to ensure A+ customer experiences are met.