The world is no longer about money, but about data. In fact, money sometimes has the form of digital data. The business world is rapidly digitizing and new technologies are changing products, processes, business models and corporate cultures.
Economists already speak of a new industrial revolution: the industry 4.0.
How do companies participate?
What is the economic impact of this process on your organization? Industrial revolutions change the nature of the business market and force organizations to transform to survive. The large amount of data has changed the market in the following ways. Effective options for the seo help online are now here for you.
Thanks to data, we no longer need physical resources to be innovative or competitive. Organizations such as Uber and Airbnb do not have physical resources, and yet they do better in terms of market value than their competitors.
A data-driven organization can scale up very quickly. In this way Uber gained a value of one billion dollars in less than four years. In comparison, companies used to do this for at least ten years.
Data-driven organizations can grow thanks to scope effects. This means that if one aspect of the organization is optimized through the use of data, this can easily be extended to another industry. Take Amazon, which started with the sale of books, then retail, then food and then probably logistics. This expansion is possible because the data knowledge of the company is easily transferable from one domain to another. The same applies to Tesla, which now uses its knowledge about energy and batteries for cars for clean energy solutions.
Because of the above matters, it is crucial to transform your organization into a digital company. Three issues are important here. What does the technical architecture look like for the new digital company? How do we convert data into concrete assets? How do we build a new organizational culture in which performance is driven by analytics and actual decision making?
The core of your architecture: the business intelligence system
According to Gartner and other research agencies, the technology platform of digital companies consists of five related main systems. In general, these systems cover all important organizational components: customer relations, management of partnerships, management of employees and processes, management of the Internet of Things (IoT) and devices, and support and management of analytics and decision making. Of course, each main system consists of different technologies. The most important thing in this new architecture, however, is that all systems are interconnected and that the business intelligence system (BI) is the core. Ottawa SEO