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So what do we mean by Digital Disruption ...
Hi Friend,
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| Over the next few weeks we will be producing a whole series of articles on Digital Disruption. Our posts will include ...
The Four Global Trends Shaping Digital Disruption, The Five key Players in the Internet Space and The Five Dynamics Shaping the changes.
We will also be looking at “The robots will see you now - The future of healthcare” and “No time for time sheets - The Future of the professions”!. Plus, we will examine “The Six Industries of the future and how they will impact your business” any time soon!
So what do we mean by digital disruption …
Our series begins today with an introduction : So what do we mean by digital disruption. We sum it up as “A threat to business goals and financial objectives which can be attributed to a digital product or platform online." It's getting easier to digitally disrupt ... here's why ...
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Access to market has never been easier and cheaper …
The
world population is 7.5 billion. Over 3.5 billion have internet access
and 1.5 billion have a smart phone. The number of mobile phone users in
the world is expected to increase to over 5 billion by 2019, of which half will be "intelligent".
It is the age of the internet
of things. By 2020 it is suggested that over 50 billion “devices” will be
connected to the internet. Computers, laptops, iPads, game consoles and
of course phones. To this we must add intelligent home devices, talking fridges,
networked climate controllers and many more.
People will be connected to
the internet via internal and external devices. The pacemaker hooked up
to the mainframe, offering real time analytics; The digital dispenser
offering feedback on medicine consumption and dosage levels; The nano
bots coursing through the veins relaying important data on cell counts,
sugar levels and genomic disorders.
Access to market has never
been easier and cost of acquisition has never been lower. It is an
exciting time for those with the right attitude and the right App!
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Software as a Service SAAS, is the great disruptor ...
We
think of current examples like Uber and AirBnB, impacting on the taxi
or hotel industry or Netflix impacting on CBS and NBC.
The examples of
the Kodak moment are cause for concern for any business. Now internet
access to the wisdom of crowds is collapsing the time frame of product
and corporate life cycles.
Businesses must confront the digital
challenge and be prepared to confront and cannibalise their existing
business models before someone else does. The businesses surviving in
the digital world will those that have created a learning organisation,
constantly self challenging, using a clear strategic framework. Let the
cannibals loose in the corporate silos, the new mantra.
Data is increasing at an Exponential Growth
Data
is increasing at a phenomenal rate. In
2015, we probably produced more data every day since the birth of the
printing press and the first 555 years of existence. The rate of increase is
exponential. Videos, photos, audio messages, blog posts are streaming
onto the internet in ever increasing proportion. That’s lots and lots of
information.
The cost of data processing and
storage is collapsing, the speed of access is accelerating. Access to
information is universal, ubiquitous and fast. There are few hiding
places for corporate intrigue or mystique. Consumers have access to lots
of information via a pocket device, any time, anywhere. It is the end
of the HIPPO. The Highest Paid Person’s Opinion must yield and give
voice to the wisdom of the crowd.
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| Big data Analysis …
But how to analyse the
data. IBM’s Watson or organisations like Palantir will be available to
assist the process. Standards set by Google and Amazon in predictive
analytics, behavioural analysis and product recommendations will set the
standards by which all must be judged.
Big data analysis may
yield big nuggets of information to assist business. We must expect more
from the data crop, than learning to place disposable nappies next to beer, or Hershey Bars next to marshmallows in store to accelerate
sales.
The great world challenge to end poverty, feed the masses and provide access to water is on hold for now. An
analysis of consumer behaviour at Walmart revealed flashlights were in
great demand in response to a hurricane warning but sales of Pop Tarts
also soared as a companion sale. Excellent!
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| How to cope with the digital challenge …
Our
concept of CBS News is an omnipresent in the strategic framework
analysis. CBS - Competitors, Buyers, Suppliers and News - New Products,
Players, Platforms and Products are subject to constant mapping,
benchmarking and analysis.
The challenge to collate the date,
command the data and deliver the analysis in a format which business
peers are able to comprehend and share.
Sectors at risk
Which
sectors are most at risk? What steps can be taken to alleviate the risk
of disruption? All this and more we will discover in our forthcoming
series. Businesses must do more to enrich the product or service with
information social content and connectivity. Do more of the customers
work for them, with recommendations and price comparisons, an impartial
guide. |
| Don’t miss the updates from the Dimensions of Strategy Team. Encourage your friends and colleagues to sign up and join the mailing list. Next week, we will reveal our list of the Ten Books you should read to prepare for the digital challenge and “The Four Global Trends Shaping Digital Disruption.” Don't miss that!
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| Happy (Digital) Strategies,
John
John Ashcroft PhD BSc(Econ) FRSA, CBIM
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The Yahoo! Case study out on Sunday!
...
will be released on the 26th June. The latest case study in The
Dimensions of Strategy Series, follows the success of Apple, Lego and
Twitter. Our case studies are in use around the world.
Video
clips, financials and Keynote slides are available on the web site. The
teaching notes and the full case study will be available to download
soon. The YAHOO! Case study, we think it's our best yet!
Visit The Yahoo Case Study.
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© 2016 John Ashcroft and Company, Economics, Strategy and Social Media, experience worth sharing.
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