There is no doubt that digital transformation (DX) has become and will continue to be a primary driver of change in organizations for the foreseeable future, and that it requires executives to think about change differently. DX is not about introducing a single change. Rather, it is about catalyzing continuous, potentially disruptive change that cascades throughout the organization. True DX effects business processes and mission critical operations changing the way a company functions and thinks. It stretches across business units, departments, and functions. It comes with large capital outlays, and it represents high risk for the organization and the leadership.
To say that most DX efforts fail to meet their objectives is almost cliché, but unfortunately, it is cliché for a reason. The most recent research shows that only 12 to 25 percent of DX efforts approach the expected level of return on investment, and these statistics do not even take into account the delayed realization from poorly executed strategies. From a return on investment perspective, DX continues to be a high-risk proposition.
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Lu Hao, PhD and MSS Data Scientist share that just like the rise of Uber disrupting the traditional taxi business by completely changing people’s commute behavior – disruptive innovations are also happening in the data and predictive analytics realm today. “Disruptive Innovation” is defined as technologies that emerge to challenge established incumbent businesses, i.e., the traditional way of people doing things. It is not a marginal improvement to make things a little better, but a fundamental change that make the old things obsolete.
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Strategic planning enables an organization to determine how its vision and objectives will be met through its resources and capabilities. Ultimately, the goal of strategic planning and road mapping is to determine how the business will win, what capabilities are needed and how the leadership will prioritize initiatives.
Look for these 3 warning signs that your IT strategy is all wrong:
- You are not seeing your IT strategy as a competitive advantage.
- You don’t understand the impact emerging technologies have on your immediate future.
- Your leadership does not have the skills necessary to take on the digital future.
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Post ERP implementation blues are problematic for a number of reasons not the least of which is the decline of the collaborative and empowered culture that the implementation tends to create. A common cause for ERP sub-optimization is that most companies do not plan sufficiently to sustain the culture required to achieve the full benefits if the system. While leaders often consider the need for ongoing technology development and maintenance, it is just as important that they plan for cultural sustainability.
Generally, leaders will make a false assumption that an ERP implementation will be plug-and- play, that performance will come naturally, and that the culture will adapt as a result of the technology. But the research is clear. Having a great company culture is no longer optional for companies who want to compete.
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The digital future for your company is right now. In all industries and businesses, we are reaching the point when systems are no longer tools just to automate processes and drive efficiencies – they are also a core component to achieve business strategy and integral to establishing customer relationships.
Unfortunately, far too many technology initiatives start with the development of a long list of requirements and selection of vendors. Or, executives are “sold” on the bells and whistles of a solution and the business’ underlying needs are lost in the excitement.
Conspicuously missing are some key steps that integrators and vendors may omit because they are not experts in these areas. And yet, they are the steps that go the furthest to ensure that you get your return on investment.
Link to the full article Your Digital Future Begins Now and learn what 3 key components your digital transformation might be missing.
Cyber warfare is real, is here, and America is losing. Military personnel, law enforcement, and private security use bulletproof vests to protect themselves in hostile zones. These vests minimize injury and provide a means of security and safety of life. Additionally, they use intensive training, mindfulness, and combat skills to defend successfully against an enemy. This combination enables them to be effective in combat. Make no mistake, the Internet is a hostile zone and in a state of cyber warfare. Being compliant is simply the bulletproof vest, and needs a cybersecurity program to provide the training, visibility, and techniques to combat cyber threats.
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I really enjoy playing guessing games – you know, the types that you would do in a case interview, in business school, or with your nerdy, analytical friends (and yes, my friends and I would fall into this category). It’s fun to try and give your guesstimate on how many golf balls could fit into a 747 or how many cigarettes are smoked a day in Montana. Even though I enjoy it quite a bit, I couldn’t imagine having my job hanging in the balance based on the accuracy of a hypothetical exercise. However, that is exactly what happens to an overwhelming number of leaders on a regular basis with their technology projects.
A McKinsey-Oxford study found that large IT projects go over-budget 45% of the time, over-schedule 7% of the time, and under-deliver 56% of the time¹. This translates to an awful lot of Steering Committee meetings where a Project Sponsor is forced to have an uncomfortable conversation with company executives on why their project is not meeting the metrics that were promised. But why does this happen? Why do very capable individuals (who called in experienced implementation teams) consistently find themselves in the hot seat with their projects? In many cases, the projects were doomed from the beginning due to basing the foundation of the project off of hypothetical exercises and guesstimates. Let me show you what I mean…
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Cloud technologies has been a buzz word for more than a decade ever since Amazon started selling their in-house, web-based service platform that was used to support their own internet sales site. They were able to package the technology, market it and turned it into a profitable solution that allowed companies to take advantage of large scale technologies without the upfront costs to build their own datacenters. Since then, cloud technologies have evolved quickly as a mainstay in our ever-evolving technological world.
New, billion-dollar companies such as AirBnB and Uber have capitalized from this trend by utilizing cloud-based infrastructure to increase reliability while decreasing costs. In April of 2018, GoDaddy announced it was moving a vast majority of their current infrastructure to AWS.
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In the previous article, we talked about the importance of a business/outcome-driven mindset to derive value out of your data and introduced the “Question-to-Value” approach. So, are you ready now for analytics? It is a critical exercise to assess your readiness before launching the actual effort. In this article I will share the three components for evaluating the maturity of your analytics: technology, business competency and culture.
With all the hype around data and analytics, it is nearly impossible to ignore it as a leader. If you are reading this article, you are most likely seeking the answer for: Am I (Is My Organization) Ready for Analytics?
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“No man steps in the same river twice.”
– Heraclitus, Greek Philosopher (535 – 475 BC)
Heraclitus reasoned that by the time we walk from one river bank to the other the flowing river and the person that crossed it will never be the same. This theory of constant change is called “Flux.”
We’ve all heard the adage that the only certainties in life are “death and taxes”. Well, constant change is another certainty. Organizations that doubt the veracity of Heraclitus’s theory and don’t adapt to disruptive and emerging technologies will get left behind. In fact, organizations that attempt to adapt without a mature approach to IT Service Management will get left behind as well.
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