I have seen a variety of the topics covered in, “Ten IT-enabled business trends for the decade ahead” by McKinsey Global Institute play out in my current job as an infrastructure technology sales executive. As highlighted in the article, there are a number of technology platforms and technology enabled business processes that executives need to educate themselves on in order for their companies to stay relevant in todays technology driven world. By leveraging tools such as social media, internet of things, automation, SAAS, and public / private cloud environments businesses will be able to deliver more than just products or services to their customers’; they will be able to deliver an integrated digital / physical experience like the article suggests.
With such a huge uptick in social media and connected devices businesses have found themselves trying to adapt to the changing landscape. Consumers want a highly customized buying experience and are seeking out companies that can provide this. One of the areas where I have seen the most transformation, specifically in local enterprise accounts, is around migrating away from traditional data centers and transforming into an IT services provider. Most companies do not want to invest large sums of money into maintaining costly data centers. They want agility, and they want to eliminate the communication breakdown that typically occurs when your operating in silos. As a result, a lot of companies are leveraging SAAS models and public / private cloud providers to lower costs, improve performance and provide faster go to market capabilities.
Another area where I have seen companies invest a lot of money is around social media and internet of things. As mentioned in the article, companies are trying to find ways to monetize assets and gather data on their customers. I have seen this trend continue to grow as the demand for real time data and analytics increases. Unlike before, consumers are now able to use social platforms to uncover information, provide feedback and offer reviews on the products or services they consume. As a result, companies need to be agile and able to quickly gather this real time data and interpret it in a meaningful way that positively impacts their business. Being able to predict, and manage the unexpected is critical in todays technology driven world where information is readily available for everyone to see.
Overall, I agree that technology is changing the way people conduct business. It is extremely important to understand these changes and how they can impact your organization. In my opinion, if you do not adapt and stay relevant to your consumers, you will be outpaced by other more transformative organizations in your market.