Are You Prepared To Be A Digital Organization
For many enterprises, transforming into a digital organization is a very big priority. Digitization is more than a passing fad; instead it almost is a precursor to survival in the next decade. Analog mechanisms of running businesses are no longer sustainable nor likely to give confidence to customers, employees, stakeholders and shareholders.
A digital organization is characterized by the following
Time to Customer Insight
The Time to Customer Insight in a digital organization is the time it takes to collect, process, analyze information to determine the health of a customer, their satisfaction with current products and services, their unmet, possibly unstated needs and the impact that external market events might have on the customer.
Time to Reaction
Time to Reaction is the time taken to react to a customer insight through the introduction of a new product/service to solve an existing or a new problem or through better packaging of existing solutions to address otherwise existing problems.
Time to Market
Time to Market is the time taken to bring a new capability, product or service to market often as reaction to a customer or market insight or feedback
Time to Iteration
Time to Iteration is the time taken to solicit, gather, process, analyze customer feedback and effect a change in existing products or services or bring new products and services to market to address the customer feedback.
Digital organizations are characterized with minimal Time to Customer Insight, Time to Reaction, Time to Market, Time to Iteration and a constant effort and investment into further optimizing and minimizing these metrics. Digital organizations focus on the flow of information through the organization and use of the information to generate and deliver more value for the customers.
Key Characteristics of Digital Organizations
Instrumentation of Interfaces, Products, Systems, Applications, Processes
A digital organization ensures that all key customer and/or employee facing interfaces, products, services, systems, applications and processes are instrumented to track behavior, actions and collect/log all data into a data processing environment
Data Organization, Analysis and Insight Generation
A digital organization ensures that all data is organized appropriately making it easy to be searched for, discover, understood leveraged for analysis. In addition, a digital organization ensures that all data is accessible by anyone looking to solve a key problem or better understand customers. A digital organization also ensures that the data is easily accessible from multiple analysis products that make it easy to generate value from the data.
Ideation and Brainstorming
Digital organizations leverage data and insights to ideate and brainstorm. With many employees and team having access to the same data and insights, digital organizations are able to align behind the same strategies and plans leading to better organization and faster execution.
Experimentation and Iteration
Digital organizations spend time hypothesizing, validating the hypothesis using data, designing and testing solutions and using customer feedback to iterate and improve at a brisk pace with the Time to Iteration becoming a core competency and differentiator making the enterprise more agile and nimble.
Digital transformation is time consuming, risky and expensive. The AI Company can help by minimizing risks, minimizing the required upfront investment and can remove the need to track and integrate multiple solutions and vendors.