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Believe it or not, there was a time when businesses existed without digital technology.
While many firms today have embraced modern methods to some degree, a high number of organisations could further their own digitisation, which would boost efficiency, security and productivity.
IT-based organisations are the ones to look to – firms that are constructed upon computers, with all processes and systems powered by data and driven by digital. There is much for traditional organisations to learn, but bosses are often unsure of how to begin.
Below are five reasons to learn from the digital gurus.
It is likely you already retain and store transactional data and take decisions based on its analysis. At a base level, such information gives a great deal of insight. For instance, a boss might see how sales team members performed throughout a year; which ones deserve a rise, and which ones deserve the door. A firm may have developed a mailing list of which clients or customers will be receiving your new brochure. The beauty of digital is that this data can be received, seen and actioned upon in real time, as your business functions are in operation.
Thinking back to how your sales personnel are performing, with instant data at your disposal you could also see current performance levels then drive the most potentially valuable leads to your strongest staff members.
Real-time analytics allow more precise decisions to be made at a faster rate than conventional practice allows. They enable optimised insight, but only if data is immediately available. Many firms need to obtain and implement new tools in order for this data to instantly process into insight, which then becomes an input.
A range of protocols, such as push-style communication, intelligent business processes, rules engines and real-time analytics each develop your business’s potential to revise rules so that further moves can be actioned off the back of insight.
Most modern data platforms allow you to build huge quantities of information, for which storage is fairly low cost. Accruing information should eventually, if not immediately, be in your interests as a business with digital aspirations.
Some firms may not be ready to shift transactional systems, or to move a data warehousing infrastructure. However, when linked to an open-source software framework, such as Hadoop, you can leverage enormous storage for any kind of data and huge processing potential. As such, you needn’t lose a drop of information, but can preserve it all to be used at your convenience.
Industry regulations permitting, affording full data access to your trusted analysts will optimise your levels of exploration. You can be sure that experts will discover new ways for data to be used, and new processes that can be actioned as a result.
Innovation of this nature blooms when those in charge create the right environment, moving forward with an open, experimental mindset. While not every firm has a suite of data scientists at its disposal, most sound business analysts, when given the adequate IT tools for data exploration, will be able to make remarkable paths forward.
One of the most precious and defining characteristics of digitisation, is that it allows huge agility. Adept organisations harness this agility to test and innovate in real-life conditions.
If a feature is finished, send it out and study its impact. Not what you were looking for? Reel that thing back in, tweak and re-launch. Always be ready to pull back and revert to a previous system, but do not be surprised if an innovation to takes hold. Nobody gets it right first, second or even third time. Getting your failures out of the way quickly will put you on the fastest track to success.