DIGITAL TRANSFORMATION BY DESIGN
Our Digital Transformation Practice combines a proven strategic framework, with deep information-centric technology expertise to produce unique actionable results. Rather than ‘science project’ type thinking, we start with the client’s customer in mind to drive innovation linked to actionable business outcomes
Digital Transformation has become the new normal. However, this new normal is fundamentally not about technology, but about strategy. Although technology is the enabler, the more important upgrade is to your strategic thinking.
C-Level leaders across all functions need to infuse a culture of innovation that leverages their core competences in new ways. Leaders who fail to embrace new thinking do so at their own peril. Leaders must see digital transformation as the opportunity to create advantage, to deliver value and to innovate at scale. The impact of time compression, increased customer expectations and myriad of emerging technologies combine to create an environment where fast-follower is a losing strategy.
Digital Transformation Services:
- Strategic Framework: Principles, objectives and visioning workshops
- Baselining Assessment: Diagnostic driven assessment across 8 dimensions
- Vision Story: Aspirational goal and over-arching cognitive strategy
- Gap Analysis: Opportunities identification, prioritization and maturity adoption curve
- Transformation Planning: Detail project/program, implementation plateaus and incubation – begin with end in mind
- Plan Administration: Roadmap execution
THE NEW NATURAL RESOURCE
Data is the new natural resource and the basis for competitive advantage
Today every consumer generates One Gigabyte of digital exhaust daily in the form of web/text, mobile/location, social, transaction, audio, visual, IoT, etc. 80% of the worlds information is unstructured dark data. We are at a tipping point, a watershed shift to digital intelligence where discovering previously unseen patterns, drawing new inferences and identifying new relationships from vast amounts of data becomes the imperative. A good historical analogy comes from the dawn of the internet. Although hard to imagine today, early-on corporations viewed the commercial internet as an efficiency tool. Siloed IT departments were commissioned to perform exploratory projects. Today the internet is ubiquitous, imbedded in every function with major winners and losers in the process. The combination of Big Data, coupled with advancements in Artificial Intelligence and a myriad of other technologies represents a similar tipping point moment.
DRIVERS OF TRANSFORMATION
Disruption occurs when a company faces a challenger that offers more value to a customer than the client can provide
Clients need to drive from best practices to next practices
- Big Data
- Mass Marketing
- Internal Structured
- Data Warehouse
- Descriptive (Dashboard)
- Programming (if-then-else)
- Personalized Engagement/ Digital Agent
- External Unstructured
- Data Lake: Volume, Variey and Velocity
- Predictive (Forecast) + Prescriptive (Optimize)
- Cognitive Era (AI/ML/NLP)
- Curator and Cognitive Architect
- Agile 2 step IT
DIGITAL TRANSFORMATION IS ABOUT STRATEGY
Digital transformation is more of a strategy, leadership, culture and talent issue.
Digital Transformation does not happen haphazardly, it occurs when business models and methods are re-imagined by courageous leaders will to manage opportunity more than risk, focus on next practices more than best practices and who are committed to beating their competition in the future.
This must no longer remain the exclusive province of IT organizations. Information-driven innovation needs to permeate all functions. C-Level leaders across all functions need to infuse a culture of innovation that leverages their core competencies in new and innovative ways. Leaders who fail to embrace new thinking do so at their own peril. Leaders must see digital transformation as the opportunity to create advantage, to deliver value and to innovate at scale.
To thrive in the new normal, here is our approach to digital transformation
- Target Definition/Segmentation
- Re-imagine customer experience and journey
- Dimensions to value: agility, channels, personalized engagement, choice, reduced friction, customer engagement, collaboration, efficiency
- Collect customer data – what they do and what they say. Descriptive value comes from not just using the data for market research, but applying for predictive (what will happen) and prescriptive (optimized) decision making
- Sales Drivers: Increase sales to existing customers, new customers, higher share of switchers, channel management / new channels and networks
- New entrants: Manage Innovator’s Dilemma challenge
- Blindspot identification
- Data Strategy: Every company needs a data strategy
- Big Data: Structured + unstructured, including web, social, location, public/govt, etc.
- Turning data in to business value – Framework includes: Insights/correlation/causation, targeting/segmentation, personalized engagement/1:1, context/frame of reference
- Monetize corporate data assets
- Use case identification by function and prioritization
- Cognitive Development: opportunity identification and prototyping
- Go-to-market launch in a box of minimum viable product (MVP)
- Prioritization based on their fit with their overall business strategy
- Incubation of low hanging fruit opportunity
- Implementation of MPV – Project Management
- Organizational Alignment:
- True-up skills: Criteria includes Proven track record, domain expertise, industry knowledge and cultural fit
- Innovation requires leadership, organizational and cultural adaptation
- Leadership alignment, design thinking, cultural change and business strategy all remain key elements
- Proper allocation limited resources – FIT
- Compelling ROI Business Case justification
- Business outcomes, not science projects
- Alignment of implementation to business outcomes
- Crawl -> Run Execution at pace and scale for operation benefit
- Practical considerations: Increasingly client’s want to see the art of the possible in order to envision the future
N2Growth seamlessly integrates Digital Transformation into other practice areas. Our by-design framework and tools creates an evolving eco-system not a plan. We don’t produce tired slide decks, we help you operationalize innovation and competitive advantage – big difference.
We leverage thought leadership and deep domain expertise across our global practice areas of strategy, culture transformation, leadership development, organizational design, risk, executive search, and executive coaching. It’s not strategy in a vacuum, but applying innovation to your old strategy process to create greater velocity, value and advantage.
JOHN NIVES | Chief Digital Officer
John Nives serves as Chief Digital Officer and the Global Chair of the Digital Transformation practice at N2Growth. Prior to joining N2Growth, Mr. Nives was at IBM Global Business Services, within the Watson and Analytics Center of Competence. There he worked on Cognitive Digital Transformation projects related to Watson, Big Data, Analytics, Social Business and Marketing/Advertising Technology. Examples include CognitiveTV and the application of external unstructured data (social, weather, etc.) for business transformation.