As we enter the digital economy, companies will find the business climate to be significantly more volatile than they have in the past, and at the forefront of this volatility is information enabling market participants that is shepherding in a wave of changes at an unprecedented pace. This rate of change translates to the rate in which the viability of information organized in a specific way to meet the needs of the organization losing its adhesion rather quickly. Understanding exactly what information will serve the needs of the organization and how it will be combined to serve both the marketplace and those who wield information in the marketplace despite the highly volatile digital economy is critical for the survival of organizations.
Continuous innovation has received a fair amount of attention recently, which equates to delivering information based products in the digital economy which provide benefits to the market participants in ways not previously achievable. Understanding past uses of information, what processes will be required to manage the disruption and measure the effects of the disruption are all key to monetizing the results of any specific innovation.
To others whose processes have been marginalized through innovations being introduced into the marketplace, their view of these specific innovations will be a disruption to their business models and practices. These disruptions can be a permanently lowered unit cost delivered through enhanced customer service operations, extending competitive information to the marketplace as a means of achieving referral income or any other service which is borne from recombination of information which can be monetized.
To understand how to manage this view of innovations and disruptions, it is important to understand how value is obtained, how it maps back to processes and how information consumed by processes serves as the catalyst to derive a new trajectory as a result of the innovation or disruption.
This writing will go through an explanation of how information is used through the management of innovations and disruptions.
Digital disruptors - Models of digital operationsEricsson
As markets transform, businesses have to adapt to keep up and stay ahead. Strategies may vary, but the latest Networked Society Lab report, Models of Digital Operations, has identified successful practices that are already changing business logistics.
Executives seeking a digital business advantage should take a page from the playbook written by leaders across the Asia-Pacific region, according to finding from our primary research.
Compreender a atual transformação das relações humanas, sociais e comerciais é condição sine qua non para que empresas e gestores possam se antecipar aos novos riscos da informação, identificando soluções agora não tão ineficazes e buscando alternativas à altura da sofisticação das novas ameaças, além de reconhecer e respeitar suas próprias limitações. A computação cognitiva aplicada à cibersegurança parece ter emergido, quase como uma inovação disruptiva, por conta dos desafios impostos pelo que se convencionou chamar de Quarta Revolução Industrial, ou simplesmente, Indústria 4.0.
A palestra SEGURANÇA CEREBRAL propõe uma acender uma chama de reflexão conduzida através de tópicos organizados por domínios, até chegarmos à constatação de que para obtermos resultado diferente do que nossas empresas e equipes de segurança obtém hoje, precisaremos começar a fazer algo definitivamente diferente e, preferencialmente, com mais inteligência.
Espero que possam tirar proveito do material.
Marcos Semola, CISM
Disruptive & Breakthrough innovations alter our world. Some domains of Technology are altering and evolving at a pace that is almost alarming. However, the future is never predictable and a breakthrough technology in a domain can revolutionaries the way the world works and conducts without much warning. The Moore's Law was expected to hit a plateau and now with advent of Quantum computing it has again become relevant and computational speeds may even outpace Moore's Law. The material technologies including nano-science will continue to excite the researchers and Bio-sciences with synergising affects of other domains of science can be predicted to take giant leaps. Artificial Intelligence is probably expected to pervade everything we touch and feel.
Innovation Colonies:Incubating the Future of your BusinessJeff Steinberg
Cultivating disruptive innovation in the enterprise - We discuss: problems with today’s approaches to innovation (hackathons, innovation sprints, innovation labs, and more); principles for enterprise innovation; differences between “sustaining” innovation and “disruptive” innovation; what an innovation colony is and how they’re structured to create disruption.
View related webinar here: http://www.solutionsiq.com/resources/innovation-colonies-incubating-the-future-of-your-business/
Digital disruptors - Models of digital operationsEricsson
As markets transform, businesses have to adapt to keep up and stay ahead. Strategies may vary, but the latest Networked Society Lab report, Models of Digital Operations, has identified successful practices that are already changing business logistics.
Executives seeking a digital business advantage should take a page from the playbook written by leaders across the Asia-Pacific region, according to finding from our primary research.
Compreender a atual transformação das relações humanas, sociais e comerciais é condição sine qua non para que empresas e gestores possam se antecipar aos novos riscos da informação, identificando soluções agora não tão ineficazes e buscando alternativas à altura da sofisticação das novas ameaças, além de reconhecer e respeitar suas próprias limitações. A computação cognitiva aplicada à cibersegurança parece ter emergido, quase como uma inovação disruptiva, por conta dos desafios impostos pelo que se convencionou chamar de Quarta Revolução Industrial, ou simplesmente, Indústria 4.0.
A palestra SEGURANÇA CEREBRAL propõe uma acender uma chama de reflexão conduzida através de tópicos organizados por domínios, até chegarmos à constatação de que para obtermos resultado diferente do que nossas empresas e equipes de segurança obtém hoje, precisaremos começar a fazer algo definitivamente diferente e, preferencialmente, com mais inteligência.
Espero que possam tirar proveito do material.
Marcos Semola, CISM
Disruptive & Breakthrough innovations alter our world. Some domains of Technology are altering and evolving at a pace that is almost alarming. However, the future is never predictable and a breakthrough technology in a domain can revolutionaries the way the world works and conducts without much warning. The Moore's Law was expected to hit a plateau and now with advent of Quantum computing it has again become relevant and computational speeds may even outpace Moore's Law. The material technologies including nano-science will continue to excite the researchers and Bio-sciences with synergising affects of other domains of science can be predicted to take giant leaps. Artificial Intelligence is probably expected to pervade everything we touch and feel.
Innovation Colonies:Incubating the Future of your BusinessJeff Steinberg
Cultivating disruptive innovation in the enterprise - We discuss: problems with today’s approaches to innovation (hackathons, innovation sprints, innovation labs, and more); principles for enterprise innovation; differences between “sustaining” innovation and “disruptive” innovation; what an innovation colony is and how they’re structured to create disruption.
View related webinar here: http://www.solutionsiq.com/resources/innovation-colonies-incubating-the-future-of-your-business/
As we enter the digital economy, companies will find the business climate to be significantly more volatile than they have in the past, and at the forefront of this volatility is information enabling market participants that is shepherding in a wave of changes at an unprecedented pace. This rate of change translates to the rate in which the viability of information organized in a specific way to meet the needs of the organization losing its adhesion rather quickly. Understanding exactly what information will serve the needs of the organization and how it will be combined to serve both the marketplace and those who wield information in the marketplace despite the highly volatile digital economy is critical for the survival of organizations. This time is different, there are few organizations who have honed their ability to decipher the contribution information makes to their value propositions, but that is exactly what is needed to understand which information investments will yield the greatest organizational benefit.
Figure 1 The Fourth Industrial Revolution, World Economic Forum, InfoSight Partners, 2016
Combine this inability to decipher information’s contribution to the bottom line with the onslaught of data and the amount of noise inherent in the data streams and it will become very apparent that those who are not able to proactively manage information as an asset of the organization that serves as a catalyst to achieving value propositions will be at a disadvantage to companies prepared for the digital economy.
There are several levers that companies can use to influence information’s ability to serve as a catalyst to achieving value. These are:
• Devising information based indicators that assure market adhesion to value propositions
• Eradicating resistance to using information in time critical situations
• Implementing the framework that orchestrates the valuation of information assets
• Ensuring the alignment of information to the processes specifically devised to achieve value propositions
• Incentivizing using information as a critical component of value propositions
This writing will go through some of the major levers and prioritize a roadmap devised to enhance the capabilities of thriving in the digital economy.
I recently wrote an article on platform intelligence and have come to the realization that intelligence on the platforms that deliver digital products is not the full complement of capabilities required to thrive through in the digital economy. One could excel at managing the platforms used to deliver digital products, but find it difficult to thrive because they are incapable of navigating disruptions, have products that are out of step with the wishes of the marketplace or a host of other reasons. Should they blame their woes on the platforms, they could swap platforms and be no better for these actions.
There are six basic forces, or pillars, which if managed, will greatly improve the ability to thrive in the digital economy. There are facilitators, or the levers to be pulled to influence the enablers, and together they form an ecosystem that together form the pillars of value.
Clearly information is a primary enabler for all the pillars, as it is the conduit for digital products. Content is the information delivered to consumers in the form of reviews, how to videos, advertising and a host of other information devised to inform and influence the opinions of the intended audience. But having content without a means of monetizing the interactions with the intended audience is not sustainable.
The purpose of this writing is to describe a framework for managing an organization’s ability to excel in pillar intelligence. All of the pillars of value are dependent on being skilled in wielding information. Understanding the specific characteristics of information that serve as catalysts of value help thrive in the digital economy.
There have been a few times in history which have ushered in a period of great change. We are in the midst of one of them, in which communications and the network has become cheap or free and is influencing changes for the foreseeable future. Some of the changes we are witnessing are the mobilization of the public, a shift in how marketing is performed and the importance of information.
The purpose of this writing is to discuss how information is weaved into this age of disruption and discuss what can be done to thrive in an economy fraught with change for the foreseeable future.
Disruptive Intermediaries; how start-ups disrupt established businessesBen Gilchriest
In this report we focus on, and examine in detail, the ways in which start-ups change the way value is created and organized in different markets and in so doing disrupt established businesses. This report will help you understand how these companies disrupt the norm., provide you a framework to assess how vulnerable your industry and company is to disruption, and how to find new opportunities within it.
What is Digital Transformation | Digital Transformation Myths and Trends 2018hakuna matata solutions
If you want to lead your organization through digital transformation, the first step is understanding the realities of digital transformation. In this SlideShare we use excerpts from a few, prestigious industry reports/white papers to dispel a few myths.
Information economics, the information assetsMark Albala
As we enter the digital economy, companies will find the business climate to be significantly more volatile than they have in the past, and leaders of industry to find themselves during change much more frequently than ever before. Information that these companies counted on being viable for the long haul tends to lose adhesion in the digital economy as a direct result of the rate of change in the digital economy. Understanding exactly what information assets are and how to ensure the viability of their information assets despite the highly volatile digital economy is critical for the survival or organizations.
There has been a fair amount of coverage on the importance of information economics and treating information as an organizational asset, but little coverage has been available on how to measure the value of information other than the traditional cost aspects of data and the costs of publishing into a multi-purpose environment (a star schema) for serving the largest number of business needs. In this model, which has served businesses well for almost 40 years, there is an assumption that there are underlying assumptions assuming viability of the usage patterns for information to remain consistent static for long periods of time. This slow rate of change has historically provided for the ability to construct an information presentation structure that would remain viable for several years and would accommodate most of the organization’s information needs. In the current business climate, however, as companies cross the crevasse to join the digital economy, the business climate is sufficiently volatile to challenge the underlying assumptions that enabled a well devised but static information model.
The purpose of this writing is to provide insights into how to thrive in this highly volatile digital economy and be one of these organizations who understand that there is measurable value to the information consumed in business processes. This appreciation of the fluidity of information needs for the organization and the preparedness to accommodate these changing needs will provide for information models that will withstand the forces of change in the digital economy. It also comes with an appreciation that the business stakeholders will not be afforded the time to machinate information to the needs of the business process, making it incumbent upon those who manage the information fabric of the organization to forge this alignment. By instituting an orchestrated process to record the use of information and measure its value, organizational accountabilities will surface that forces this necessary alignment with business process.
Introducing thriving with information in the digital economyMark Albala
The attached introduction is a preview of the upcoming book being published by Mark Albala, looking for a publisher to bring this publication to fruition.
Human Capital In The Fitness and Active Leisure Sector : The Future is Alread...Bryan K. O'Rourke
Bryan O'Rourke presented his vision of the future of Human Capital in the Fitness and Active Leisure Industry at the 6th Annual Congresso da Fitness Tribe in Lisbon Portugal in January of 2019 before almost 2,000 fitness professionals. You can locate video content at this link http://bit.ly/ORourkeVideoLisbon2019 .
Inventory Optimization in a Market-Driven World - 27 APR 2015Lora Cecere
Executive Overview
Growth is slowing and the complexity in today’s supply chain is unprecedented. As a result, within a company, inventory management is often a hot issue. Shrinking inventory spins off a one-time, and highly desirable, cash windfall. In most industries there is a connection between market capitalization and inventory management. This drives pressure to reduce inventory and question existing practices. However, while companies are quick to ask questions, they often make the wrong judgements about inventory strategies. The goal of this report is to improve this dialogue.
Most companies have invested in many inventory optimization solutions over the last decade. Within the company, there is mounting frustration about the failure of these projects to actualize and maintain targets. What most companies fail to realize is that the technology strategy needs to be worked in concert with supply chain strategy. Often we find while companies improve inventory levels through the deployment of inventory technologies, operational decisions to widen the item master or lengthen the supply chain will undermine the project targets.
There are many drivers of inventory, and the management of inventory levels requires discipline and a cross-functional focus. It is a story of people, process, and technology. Let’s start with people. Today, fewer than 5% of companies have an end-to-end focus (as defined from the customer’s customer to the supplier’s supplier), and most companies lack alignment and balance. The largest gaps between are between operational and commercial groups. (Cecere L. , Three Techniques to Improve Organizational Alignment, 2013). As companies close the organizational gap, progress is made on inventory. Likewise, when it comes to balance, 68% of organizations surveyed lack balance in Sales and Operations Planning between the commercial groups (the “S”) and the operational groups (the “OP), When balance is achieved, the organization rates itself as more agile, and aligned, and there is an 11% improvement in inventory turns (Cecere L. , Research in Review, 2014).
Supply chain processes are now over 30-years old. While there is a generalized belief that maturity of supply chain processes has improved inventory turns, as can be seen in Figure 2, the improvements in cash-to-cash have primarily been driven by lengthening payables. In industries like beverage, pharmaceuticals, consumer packaged goods and medical device, the industry averages have gone backwards (inventory turns have decreased not increased). Only the food and apparel industries have posted double-digit improvements in inventory turns. Why? Food and apparel are largely regional supply chains which are maturing. They lag consumer packaged goods in supply chain maturity. While consumer packaged goods companies are more mature, they are more global. The rise of the global multinational has greatly impacted inventory requirements.
A case for intelligent autonomous ai (iai)Mark Albala
Many argue that 90% or more of the trades on Wall Street are either totally administered without the aid of humans or greatly assist humans in the execution of trades. Although in its infancy, it is easy to envision that this onslaught of the digitization of the marketplace, both in execution and administration has led to the volatility of the marketplace. We are in the infancy of autonomic AI, and the volatility is a condition of AI routines, with no one at the helm, being knee jerk in the reaction to swings in the market caused by other AI routines with no one at the helm. For a historical perspective, in 2014, it was estimated that 75% of trades was originated from automated trade systems. By 2017, JPM estimates were that over 90% of trades were executed algorithmically.
If we further envision, it is easy to assume that the next generation of these AI brokers will understand that they will fall short of maximized profit by following the ebbs and tides of the market caused by other AI brokers, thereby reducing the overall market volatility but also putting traders not armed with these tradebots at a severe disadvantage.
The same logic will hold true to other business functions that succumb to algorithmic execution. The risk will be forever present that knee jerk reactions to every departure from expected outcomes will derail those enabling these algorithms into a whirlwind of turbulence, while those who are smarter in their execution plan will be able to judge such turbulence for what it is, others enabling algorithms to react to every blip.
While today’s autonomic algorithms are smart, they are not intelligent because they are unable to segregate blips from true trends, thereby resulting in knee jerk reactions. This writing will focus on how not to fall into the knee jerker category when implementing autonomic AI.
The long journey toward true data privacyMark Albala
Some recent events have illustrated the long journey we have towards data privacy, all caused by the common recognition issues of information valuation. Two companies that do indeed understand the value of information valuation, apple and Facebook, are at the cusp of a battle precipice that has all to do with the value achieved by Facebook through the monetization of information and Apple’s relentless charge towards protecting the privacy of apple subscribers.
But the fact that Facebook achieved earnings through its actions described in this article and was rewarded by Wall Street illustrates that we have a long road ahead of us, mostly on the cultural and regulatory front, to truly get actions in line with the desires for data privacy. Most importantly, the actions by Facebook have illustrated that while information has value, the regulations governing information have not caught up yet, particularly on defining parental rights for data privacy.
For those of you not aware of the events, Apple and Facebook are currently in a battle over Facebook breaching the app rules governing the harvesting of user data. At the heart of this battle was Facebook’s policy of providing those aged 13 to 35 up to $20 per month plus referral fees to harvest all the data from their mobile devices via a “Facebook Research Virtual Private Network” and use as Facebook saw fit, whether originated from the usage of Facebook or not. Many of those who agreed to receive these moneys were minors, and there has been no provision for parental approval of the use of the Facebook VPN. The Facebook VPN, according to Apple, violated the partner agreement, but again, parental rights never came into the conversation.
This article will define a series of actions that can be anticipated and why the defacto recognition of information value must exist before a realistic approach toward data privacy can become reality.
More Related Content
Similar to Information is the catalyst of the digital economy
As we enter the digital economy, companies will find the business climate to be significantly more volatile than they have in the past, and at the forefront of this volatility is information enabling market participants that is shepherding in a wave of changes at an unprecedented pace. This rate of change translates to the rate in which the viability of information organized in a specific way to meet the needs of the organization losing its adhesion rather quickly. Understanding exactly what information will serve the needs of the organization and how it will be combined to serve both the marketplace and those who wield information in the marketplace despite the highly volatile digital economy is critical for the survival of organizations. This time is different, there are few organizations who have honed their ability to decipher the contribution information makes to their value propositions, but that is exactly what is needed to understand which information investments will yield the greatest organizational benefit.
Figure 1 The Fourth Industrial Revolution, World Economic Forum, InfoSight Partners, 2016
Combine this inability to decipher information’s contribution to the bottom line with the onslaught of data and the amount of noise inherent in the data streams and it will become very apparent that those who are not able to proactively manage information as an asset of the organization that serves as a catalyst to achieving value propositions will be at a disadvantage to companies prepared for the digital economy.
There are several levers that companies can use to influence information’s ability to serve as a catalyst to achieving value. These are:
• Devising information based indicators that assure market adhesion to value propositions
• Eradicating resistance to using information in time critical situations
• Implementing the framework that orchestrates the valuation of information assets
• Ensuring the alignment of information to the processes specifically devised to achieve value propositions
• Incentivizing using information as a critical component of value propositions
This writing will go through some of the major levers and prioritize a roadmap devised to enhance the capabilities of thriving in the digital economy.
I recently wrote an article on platform intelligence and have come to the realization that intelligence on the platforms that deliver digital products is not the full complement of capabilities required to thrive through in the digital economy. One could excel at managing the platforms used to deliver digital products, but find it difficult to thrive because they are incapable of navigating disruptions, have products that are out of step with the wishes of the marketplace or a host of other reasons. Should they blame their woes on the platforms, they could swap platforms and be no better for these actions.
There are six basic forces, or pillars, which if managed, will greatly improve the ability to thrive in the digital economy. There are facilitators, or the levers to be pulled to influence the enablers, and together they form an ecosystem that together form the pillars of value.
Clearly information is a primary enabler for all the pillars, as it is the conduit for digital products. Content is the information delivered to consumers in the form of reviews, how to videos, advertising and a host of other information devised to inform and influence the opinions of the intended audience. But having content without a means of monetizing the interactions with the intended audience is not sustainable.
The purpose of this writing is to describe a framework for managing an organization’s ability to excel in pillar intelligence. All of the pillars of value are dependent on being skilled in wielding information. Understanding the specific characteristics of information that serve as catalysts of value help thrive in the digital economy.
There have been a few times in history which have ushered in a period of great change. We are in the midst of one of them, in which communications and the network has become cheap or free and is influencing changes for the foreseeable future. Some of the changes we are witnessing are the mobilization of the public, a shift in how marketing is performed and the importance of information.
The purpose of this writing is to discuss how information is weaved into this age of disruption and discuss what can be done to thrive in an economy fraught with change for the foreseeable future.
Disruptive Intermediaries; how start-ups disrupt established businessesBen Gilchriest
In this report we focus on, and examine in detail, the ways in which start-ups change the way value is created and organized in different markets and in so doing disrupt established businesses. This report will help you understand how these companies disrupt the norm., provide you a framework to assess how vulnerable your industry and company is to disruption, and how to find new opportunities within it.
What is Digital Transformation | Digital Transformation Myths and Trends 2018hakuna matata solutions
If you want to lead your organization through digital transformation, the first step is understanding the realities of digital transformation. In this SlideShare we use excerpts from a few, prestigious industry reports/white papers to dispel a few myths.
Information economics, the information assetsMark Albala
As we enter the digital economy, companies will find the business climate to be significantly more volatile than they have in the past, and leaders of industry to find themselves during change much more frequently than ever before. Information that these companies counted on being viable for the long haul tends to lose adhesion in the digital economy as a direct result of the rate of change in the digital economy. Understanding exactly what information assets are and how to ensure the viability of their information assets despite the highly volatile digital economy is critical for the survival or organizations.
There has been a fair amount of coverage on the importance of information economics and treating information as an organizational asset, but little coverage has been available on how to measure the value of information other than the traditional cost aspects of data and the costs of publishing into a multi-purpose environment (a star schema) for serving the largest number of business needs. In this model, which has served businesses well for almost 40 years, there is an assumption that there are underlying assumptions assuming viability of the usage patterns for information to remain consistent static for long periods of time. This slow rate of change has historically provided for the ability to construct an information presentation structure that would remain viable for several years and would accommodate most of the organization’s information needs. In the current business climate, however, as companies cross the crevasse to join the digital economy, the business climate is sufficiently volatile to challenge the underlying assumptions that enabled a well devised but static information model.
The purpose of this writing is to provide insights into how to thrive in this highly volatile digital economy and be one of these organizations who understand that there is measurable value to the information consumed in business processes. This appreciation of the fluidity of information needs for the organization and the preparedness to accommodate these changing needs will provide for information models that will withstand the forces of change in the digital economy. It also comes with an appreciation that the business stakeholders will not be afforded the time to machinate information to the needs of the business process, making it incumbent upon those who manage the information fabric of the organization to forge this alignment. By instituting an orchestrated process to record the use of information and measure its value, organizational accountabilities will surface that forces this necessary alignment with business process.
Introducing thriving with information in the digital economyMark Albala
The attached introduction is a preview of the upcoming book being published by Mark Albala, looking for a publisher to bring this publication to fruition.
Human Capital In The Fitness and Active Leisure Sector : The Future is Alread...Bryan K. O'Rourke
Bryan O'Rourke presented his vision of the future of Human Capital in the Fitness and Active Leisure Industry at the 6th Annual Congresso da Fitness Tribe in Lisbon Portugal in January of 2019 before almost 2,000 fitness professionals. You can locate video content at this link http://bit.ly/ORourkeVideoLisbon2019 .
Inventory Optimization in a Market-Driven World - 27 APR 2015Lora Cecere
Executive Overview
Growth is slowing and the complexity in today’s supply chain is unprecedented. As a result, within a company, inventory management is often a hot issue. Shrinking inventory spins off a one-time, and highly desirable, cash windfall. In most industries there is a connection between market capitalization and inventory management. This drives pressure to reduce inventory and question existing practices. However, while companies are quick to ask questions, they often make the wrong judgements about inventory strategies. The goal of this report is to improve this dialogue.
Most companies have invested in many inventory optimization solutions over the last decade. Within the company, there is mounting frustration about the failure of these projects to actualize and maintain targets. What most companies fail to realize is that the technology strategy needs to be worked in concert with supply chain strategy. Often we find while companies improve inventory levels through the deployment of inventory technologies, operational decisions to widen the item master or lengthen the supply chain will undermine the project targets.
There are many drivers of inventory, and the management of inventory levels requires discipline and a cross-functional focus. It is a story of people, process, and technology. Let’s start with people. Today, fewer than 5% of companies have an end-to-end focus (as defined from the customer’s customer to the supplier’s supplier), and most companies lack alignment and balance. The largest gaps between are between operational and commercial groups. (Cecere L. , Three Techniques to Improve Organizational Alignment, 2013). As companies close the organizational gap, progress is made on inventory. Likewise, when it comes to balance, 68% of organizations surveyed lack balance in Sales and Operations Planning between the commercial groups (the “S”) and the operational groups (the “OP), When balance is achieved, the organization rates itself as more agile, and aligned, and there is an 11% improvement in inventory turns (Cecere L. , Research in Review, 2014).
Supply chain processes are now over 30-years old. While there is a generalized belief that maturity of supply chain processes has improved inventory turns, as can be seen in Figure 2, the improvements in cash-to-cash have primarily been driven by lengthening payables. In industries like beverage, pharmaceuticals, consumer packaged goods and medical device, the industry averages have gone backwards (inventory turns have decreased not increased). Only the food and apparel industries have posted double-digit improvements in inventory turns. Why? Food and apparel are largely regional supply chains which are maturing. They lag consumer packaged goods in supply chain maturity. While consumer packaged goods companies are more mature, they are more global. The rise of the global multinational has greatly impacted inventory requirements.
Similar to Information is the catalyst of the digital economy (20)
A case for intelligent autonomous ai (iai)Mark Albala
Many argue that 90% or more of the trades on Wall Street are either totally administered without the aid of humans or greatly assist humans in the execution of trades. Although in its infancy, it is easy to envision that this onslaught of the digitization of the marketplace, both in execution and administration has led to the volatility of the marketplace. We are in the infancy of autonomic AI, and the volatility is a condition of AI routines, with no one at the helm, being knee jerk in the reaction to swings in the market caused by other AI routines with no one at the helm. For a historical perspective, in 2014, it was estimated that 75% of trades was originated from automated trade systems. By 2017, JPM estimates were that over 90% of trades were executed algorithmically.
If we further envision, it is easy to assume that the next generation of these AI brokers will understand that they will fall short of maximized profit by following the ebbs and tides of the market caused by other AI brokers, thereby reducing the overall market volatility but also putting traders not armed with these tradebots at a severe disadvantage.
The same logic will hold true to other business functions that succumb to algorithmic execution. The risk will be forever present that knee jerk reactions to every departure from expected outcomes will derail those enabling these algorithms into a whirlwind of turbulence, while those who are smarter in their execution plan will be able to judge such turbulence for what it is, others enabling algorithms to react to every blip.
While today’s autonomic algorithms are smart, they are not intelligent because they are unable to segregate blips from true trends, thereby resulting in knee jerk reactions. This writing will focus on how not to fall into the knee jerker category when implementing autonomic AI.
The long journey toward true data privacyMark Albala
Some recent events have illustrated the long journey we have towards data privacy, all caused by the common recognition issues of information valuation. Two companies that do indeed understand the value of information valuation, apple and Facebook, are at the cusp of a battle precipice that has all to do with the value achieved by Facebook through the monetization of information and Apple’s relentless charge towards protecting the privacy of apple subscribers.
But the fact that Facebook achieved earnings through its actions described in this article and was rewarded by Wall Street illustrates that we have a long road ahead of us, mostly on the cultural and regulatory front, to truly get actions in line with the desires for data privacy. Most importantly, the actions by Facebook have illustrated that while information has value, the regulations governing information have not caught up yet, particularly on defining parental rights for data privacy.
For those of you not aware of the events, Apple and Facebook are currently in a battle over Facebook breaching the app rules governing the harvesting of user data. At the heart of this battle was Facebook’s policy of providing those aged 13 to 35 up to $20 per month plus referral fees to harvest all the data from their mobile devices via a “Facebook Research Virtual Private Network” and use as Facebook saw fit, whether originated from the usage of Facebook or not. Many of those who agreed to receive these moneys were minors, and there has been no provision for parental approval of the use of the Facebook VPN. The Facebook VPN, according to Apple, violated the partner agreement, but again, parental rights never came into the conversation.
This article will define a series of actions that can be anticipated and why the defacto recognition of information value must exist before a realistic approach toward data privacy can become reality.
Analytics, business cycles and disruptionsMark Albala
The digital economy is different. Depending on platforms and a much more malleable set of methods to interact with consumers, an accelerated rate of disruptions compromises the orderly business experience of most market participants. A well-honed analytics program facilitates understanding these accelerated disruptions. With a platform based digital marketplace, obtaining the information necessary to decipher unexpected outcomes and prescribe suitable actions is difficult because the information required Both of these facts are important to analytics. First, platforms. Platform based activity is hard to decipher, not because it is more complex but because the information needed to decipher activity is not contained within your four walls.
Once deciphered, the next challenge facing organizations deciphering unexpected outcomes is a determination of whether the unexpected outcome is truly a disruptive event or simply a phase change in a regularly occurring business cycle. There are significant differences in the suitable reactions to disruptions and business cycle phase changes. Unfortunately, many organizations are ill equipped to discern between these two classes of unexpected business outcomes and consistently find their business plans fall victim to the actions of others within the marketplace.
Luckily, many of the activities of governmental and regulatory bodies are focused on predicting phase changes to the business cycles likely to impact the economic forces within the next fiscal year and describe their economic policies and agendas in publicly available documents and analysis. Understanding where to find these documents and how to use the published to discern between the likely business cycle phase changes and true disruptions as one of the vehicles available within your arsenal of analytics will lessen the occurrence of falling victim in the marketplace by misreading the clues available from unexpected outcomes. This document will address the sources most likely to assist and the actions to be taken to utilize the information attained from these documents.
A process for defining your digital approach to businessMark Albala
This material represents a templated approach specifically constructed to define your approach to digital commerce completed through one or more working sessions.
The business model canvas adapted for the digital economyMark Albala
The digital business model canvas is an adaptation of the business model canvas, a lean approach to defining business models augmented for the realities of digital commerce.
Welcome to the Algorithmic Age and the need for Analytic Accuracy AssuranceMark Albala
We are entering an age where algorithms are the underlying forces that manage interactions with consumers and members of your value chain. These algorithms deliver dynamically optimized content that address the wants, needs and desires of consumers and convert the delivery of the correct content into commercial transactions or referral income opportunities.
Software robots, or the autonomous software agents orchestrated and enabled with artificial intelligence, employ these algorithms to determine a path that optimizes organizational value. In most cases the employed analytics utilize historical data to determine the appropriate trajectories that optimize organizational value. There are times, however, when historical data is a poor predictor of future outcomes. These disruptive times will be commonplace during the foreseeable future. Many solutions that enlist the services of software robots available today do not have some of the critical components to identify and autonomously course correct for these disruptive times.
There are some critical components are often lacking from robotic engines or common business practices and will be described in this writing. These facilities are
A common framework that integrates interactions, the delivery of content, facilitation of referral income and commercial transactions into one integrated common platform-based framework,
Autonomous software capable of identifying when interactions, facilitation of referral income and commercial transactions arrive with unexpected outcomes, and can autonomously course correct,
Software components devised to identify and use the information most resilient to unexpected market forces when prescribing actions to take which are devised to navigate disruption waves,
Autonomous software that can robotically navigate disruption waves when possible and request swift actions from business stewards when appropriate actions to unexpected market cannot be computed,
Sufficiently robust workbench capabilities that allow business stewards to review robotic actions and immerse themselves in redirecting activities when necessary and
Enabling software and enabled teams tasked with the creation and maintenance of robotic software, algorithms, analytics and employed artificial intelligence at the breakneck speed of digital interactions.
There are some major innovations that will stand the chance of changing close to everything that will find their way into the lives of everyone not living under a rock. Some of these are
• major advances in battery technology that will impact close to everything that runs on battery,
• Graphene, a miracle product produced from Carbon that is one molecule thick, stronger than steel, capable of storing electricity and clear. Expect several innovations that will utilize graphene, including a possibility of Graphene disrupting all plastics and possibly aluminum, particularly if the prices sufficiently erode,
• Extended Reality, which is a converged view of the physical and digital landscapes available to the consumer and interacting with consumers in vastly transformed ways,
• Internet of Things (IoT) devices and IoT exchanges, which will allow companies to integrate their physical market presence into the digital processing stream and
• Adaptive Intelligence delivered through autonomous software robots, all interacting with the platforms that collectively represent an organization’s digital identity. Adaptive Intelligence stands the chance of changing close to everything.
All of this is highly disruptive, and during disruptive times analytics lose their accuracy because disruptions represent departures from historical trends. While these will not be the only disruptions that can be expected as, according to Ray Kurzweil and others, we approach a digital singularity, these expected disruptions will represent an opportunity to help shape the future in a way beneficial to the organization, at least if the disruptive times can be deciphered and successfully navigated.
Information's value is enhanced when curated for adaptive intelligenceMark Albala
Much has been written about improving the speed of your digital ecosphere through automation. Organizations that have attempted the automation of their digital ecosphere have discovered that while automation helps the anticipated repetitive tasks, in the configuration used by many organizations it does little to facilitate that which is not anticipated. Yes, automation does free those up who had to previously immerse themselves in the digital transaction stream. The leadership in markets, however, shift to the advantage of those who can read the tea leaves early and act at the blistering speed of the digital economy. The critical timelines require automation, but automation that can deliver status quo responses does not help when expected outcomes are lacking. Adaptive intelligence that utilizes autonomous, robotic software as its orchestration hub is called for, but only if the robotic software is aware of the processes and assumptions used to model the market so that departures from expected outcomes can be identified. With information serving as the lifeblood of the digital economy, leveraging information to its fullest is a prerequisite to survival, and adaptive intelligence is the means to leveraging information.
While there are features and functions not yet matured in many of the robotic process automation solutions, the real underlying roadblock to achieving adaptive intelligence is a lack of mapping the processes and the information consumed by those processes to the robotic software engine. The true leverage to be achieved, the autonomous robots enabling adaptive intelligence must be able to identify departures from expected outcomes and the means to adjust processes to meet the new trajectories present in the marketplace.
This writing will describe the mechanisms you should have in place to orchestrate adaptive intelligence through the facilities of the platforms that interface to your robotic process automation solution(s).
Your digital commerce activities depend on understanding the consumer so that you can share information with the consumer that they will care about. That means harvesting and storing consumer data so that analytics can predict and, in many cases, satisfy the wants, needs and desires of consumers. However, the ability to harvest and store consumer data is contingent on taking reasonable actions to protect that data from being used in ways not disclosed and in ways made possible through data theft (hackers).
92% of consumers have been concerned about the safety of their privacy information being available on line in the vast digital stores of organizations, and their sentiment has been heard by regulators, who have begun to put their foot down. First in Europe, Canada and the Far East, but the spread is contagious. GDPR, the most pervasive of these rules at this time, gives consumers the right to be forgotten from all the digital stores managed by an organization for any reason at all. These organizations have just 72 hours to comply with the request, by law. Stiff penalties have been defined for those incapable or unwilling to comply.
However, the ability to compete on the digital stage is a much larger penalty, and one that organizations should take seriously. Organizations which lose the ability to harvest personal data, either through regulation or due to consumers being unwilling to share with an organization they consider disreputable or incapable when it comes to their personal data, will be at a serious competitive disadvantage in the digital markets because their ability to predict the wants, needs and desires will be seriously marginalized.
Read more on what privacy controls are necessary to participate in the digital economy.
Disruptive outcomes are determined by consumersMark Albala
Digital disruptions are a consequence of the sheer speed of the digital economy and the breakneck speed at which we are navigating the digital economy in route to the autonomous age. Analytics are a core component of activities in the digital economy and will increase their prominence as a core component of the autonomous age. Digital interactions happen without the benefit of human hands. Ultimately, the selection from the various strategies and tactics launched to influence disruptions will be decided by consumers, who through processes of their own devise will internalize content to make their collective choices.
Disruptions occur when innovation, competitive, operational or other activities in the marketplace alter the anticipated outcomes in the marketplace. Disruptions occur in waves. The primary tool available to market participants during disruption waves is to influence the outcome of those waves through persuasive content. However, it is consumers that will ultimately collectively decide the winners and losers during a disrupted market, and their decisions will ultimately be based on content intended on influencing their decisions and their preconceived notions based on their individual views of the marketplace.
Content is the vehicle that market participants wield with intentions to influence consumers, but for content to achieve the intended goals, particularly during times when markets are disrupted, content must be clear and appear to consumers to either support their preconceived notions or appear to be so much of a benefit to consumers that they are willing to forgo any preconceived notions to achieve the intended benefits.
The delivery of this content is just as important as the contents of this content. If consumers cannot find the content or find it at times when they are not likely to give it the attention it deserves, then the intended outcomes are unlikely to be realized. Analytics controlled by self-learning intelligent algorithms are, if available, viable solutions to deliver content at the optimal time and through the optimal media. These algorithms, if effective, must be cognizant of the disruptions and what the potential influences the various actions of market participants will have on the behavior of consumers.
This writing is intended to provide guidelines on how to derive appropriate content to influence disruptions and how to deliver it in ways to influence its outcome in the marketplace.
Introducing the information valuation estimatorMark Albala
In the digital economy, information, properly deployed, is a catalyst for value. It is the information that flows through the platforms that together represent an organization’s digital presence. And it is the pillars of value that represent an organization’s information mantra. Information is nothing less than the lifeblood for converting content to value in the digital economy.
The Information Value Estimator (IVE) is a tool that is used to estimate the effectiveness of information in your organization and derives an attempt to estimate the uplift in revenue that is achievable by improving the management of information as an asset of the organization.
It is absolutely true that analytics is a big part of the equation. However, for the majority of opportunities, particularly when disruptive times prevail, where information can make a big difference is realized when a high degree of autonomous analytics is involved. This autonomy will accelerate the execution of information based actions taken in the digital economy by an organization. A keen understanding of how business processes consume information is required to deploy this level of autonomy. A low level of resistance to putting the faith of the organization into these autonomous analytics is required to optimize value in the digital economy. The means to review, countermand and tune these autonomous analytics is mandatory.
The Information Value Estimator, available upon request, can be used as a self-service tool. Its use is intended to serve as a vehicle to identify initiative opportunities, few of which will be traditional IT opportunities, that will have a measurable impact on the value of information. It is recommended to augment the estimator with a benchmarking of information value to show progress made and refine deficiencies that will impact the ability to wield information in the digital economy.
Cybersecurity is a key ingredient in the digital economyMark Albala
The digital economy is very different. Information is the life blood of the digital economy, and cyber-security attacks are theft of information, sometimes with real financial implications. While too many companies have not revisited their cyber-security arsenal to meet the demands of the digital economy, the regulators have been busy to update the minimally acceptable levels of protection of individuals and their identity in the digital ecosphere. Many companies will be burned by the punitive damages levied by regulators and the reputational damage which impinges upon the ability to conduct digital commerce.
This writing will go through what it means to be cyber-safe in the digital economy and defines a framework that should be used by all organizations to identify the leakages in information either directly leaked by them or syphoned off through imposters misrepresenting the organization. From the regulatory and consumer vantage point, there is not difference, the organizations conducting digital commerce are required to perform the due diligence necessary to provide assurance to consumers that their digital interactions with organizations are secure and safe.
Many companies will appear in the tabloids with massive fines and punishment in the capital markets due to lapses in judgement when it comes to meeting their obligations for cyber-security. Unfortunately, it will take examples made of such companies before the actions necessary to protect the consumer willing to conduct digital commerce is taken seriously. Many of the organizations will not survive the anticipated disruptions.
Deploying and monetizing content in the digital economyMark Albala
The digital economy is very different. The means in reaching and converting consumers into customers is very different in the digital economy. In the digital economy, the delivery of content to customers and prospective customers is accomplished at the convenience of the consumer.
Information personalized to be relevant to the consumer and easily accessed by the consumer through mechanisms chosen by the consumer is critical to digital survival. And devising means to deliver information to the consumer without seeming intrusive is a critical facet of digital survival.
The ability to understand what information will be relevant to the consumer without violating privacy rules. All participants in the digital economy will need to balance the need for analyzing personal identity information against privacy rules and governmental legislation. It is exactly the just in time analytics required to determine what will be pertinent to a consumer based on their content history, their current proximity and a host of other variables is the fuel that will catalyze the monetization of information. It is the regulators watching the obvious transgression of shared personal information, punitive damages and limits to the use of personal information will ensue. This and published occurrences of lapses in protecting entrusted identity information will translate into reputational crises, both of which will force consumers to think twice about sharing their identity information with those wishing to participate in digital commerce. Those hampered by the regulators or incapable of protecting the identity information entrusted to them will suffer the fate of having their ability to know the consumer hampered because of a difficulty to obtain the information required to analyze and personalize content of value to consumers.
The purpose of this writing is to define a framework for obtaining, managing, protecting and monetizing the information fueling the digital economy.
The digital economy is very different. Products in the digital economy are deployed by offering content, goods and services through a collection of platforms organized in a specific way that makes one digital ecosphere different than every other. And the lifeblood of your digital products is the information and content that defines what a digital transaction will be. To the consumer, the digital experience is the information and content that is navigated for a specific purpose that often eventually leads to a digital transaction.
Content is personalized information specifically devised to influence consumers at specific points of time. A key time to wield this influence is during disruptions, when the market is in a transitional phase. Content can be used as an influencer through the launching of a tipping point to course correct navigation of a disruption wave. Should the content go viral, the influence is magnified (just ask United when they dragged a doctor off his plane).
The pillars to value in the digital economy are dependent on information. Understanding the specific characteristics of information that serve as catalysts of value help thrive in the digital economy.
Introducing thriving with information in the digital economyMark Albala
We are witnessing the shepherding in of the digital age, one where machines and information can do things faster and more accurately than people for select tasks, particularly those that don’t require ingenuity to innovate something that has never previously existed. It is up to those who run organizations to gain a quick appreciation to which tasks benefit from the wisdom, empathy and creativity of the human spirit and which ones are repetitive with minor variations to a theme and best orchestrated through software. It is exactly those organizations that put every task to the whim of a machine that will enjoy an uneasy competitive disadvantage because their finest moments will be those they can be performed by every other business with a machine at the helm for that decision. However, those decisions which are somewhat repetitive and can be taught through software to adjust for the nuances of a decision will be able to react to these activities faster and more accurately than those not benefitting from software, of course without human intuition, empathy and ingenuity. A keen understanding of the processes of an organization, the information supporting that information and how that information potentially makes a difference is at the heart of the discussion of thriving with information in the digital economy.
There are a number of very timely, complex fraught with error tasks that people cringe at performing or tasks which need to be performed at such a blistering pace in the digital age that if they were to wait for people to perform they would either need to be verified carefully for errors or be too late to make a difference in the digital economy. The one thing that is consistent is that the life blood of the digital economy is information delivered at a blistering speed at all hours of the day.
The purpose of this writing is to illuminate some of the changes caused by the digital economy as it pertains to information and help organizations devise a roadmap to their path from the current state to one more applicable for the digital economy.
Charting your course for surviving disruptive innovationsMark Albala
Historically, businesses could expect the lifespan of their business models to survive the planning horizon of 3 – 5 years and long term strategic planning was something you could review on a quarterly basis and revisit once a year. However, the digital economy has changed all the rules, no longer can you expect the business climate to survive for the planning horizon; typically, digital products are retooled at least twice a year. Moreover, disruptions can come from other sources than innovations, they can be the result of opportunistic and cyber-attacks, the result to your bottom line is the same.
Devising a strategy and first line of defense is mandatory for those who would rather weather the storm of disruption unscathed to the more common alternative of weathering a fire drill with uncertain outcomes. Having an early warning beacon is a central component of early detection of a disruption and corralling the necessary information to inoculate the attack. This writing will go over some of the techniques available for such an endeavor.
Information's role in disruption cycles and the exploitation of tipping pointsMark Albala
“The Tipping Point”, written in 2000 prior to the digital economy, described a means for forging disruptions through the exploitation of information. Having a keen understanding of the information you have at your disposal and a keen awareness of the attempted disruptions through viral social media and other means is critical for survival in the digital economy. This writing will go over what the tipping point is, how information aligns to the tipping point in the digital economy and what organizations must do now to survive disruptive attempts to dethrone their products and services in the digital economy.
Why is cyber security a disruption in the digital economyMark Albala
As we enter the digital economy, companies will quickly realize that the differentiator in the digital economy is information and information being a valuable resource is subject to theft, hacking, phishing and a host of other issues which compromise a company’s ability to participate in the digital economy. Cybersecurity misfires compromise the trust of buyers and partners necessary to participate in the digital economy. It is up to every company to ensure that the information shared with them is protected to the best of their ability and proactively notify persons and organizations who entrust their information necessary to transact business (any personal identity information including but not limited to addresses, credit card information, social security numbers, account information, credit information, medical records, etc.) with any potential compromises which can yield harm to them by that information either being used maliciously or shared with others.
The digital economy is different than other versions of commerce because in the digital economy, information is the lifeblood of digital commerce that passes through the hands of many platforms involved in a digital event. Each of these platforms are an opportunity to wreak havoc on your well-intended but incomplete intents to protect the information contained within the network you control. In the digital economy, it is not only the network you control, but the platforms that touch the personal data entrusted to you as a means of enabling digital commerce, and several techniques have begun to emerge to protect personal information contained within your information domain and the domain of platforms participating in digital commerce.
Because the life blood of the digital economy is information, information hacked in the digital economy is akin to shrinkage in the legacy economy. Both are means to directly attack your bottom line, whether it is redirecting customers elsewhere because they don’t trust your privacy program, ransomware which makes your site or one of your partner platform sites dangerous to use or some other reason which challenges your ability to participate in the digital economy. Shrinking the potential market share because of information safety and security challenges is a disruption, making cyber-security a disruptive activity, particularly if it is not dealt with swiftly.
If your cyber-security program is focused entirely on protecting the information housed in your four walls, you have exposed yourself to problems you will have difficulty in identifying both the source and the entry point of these issues.
As we enter the digital economy, it becomes increasingly transparent that the information and data ecosphere will continue to be a complex environment for the foreseeable future, with information being provided from a variety of internal and external sources in the form of files, messages, queries and streams. It would be foolish for any organization to place their bets on any one platform to be their platform of choice because it is incongruent to the thought patterns of the consumers, suppliers, regulators, partners and financiers who will participate in their information ecosphere through data feeds, information requests and a host of other interfaces.
Rather, there is a role of each of these platforms which serve as the conduit for data and the transformation of data into information aligned with the value propositions of the organization. This writing is focused on the big data platform because there are some unique characteristics of the big data environment that require an approach different than many of the legacy environments that exist in organizations. Furthermore, while big data is the one environment that is new and requires these special handling characteristics, there will be future platforms with the same requirements as big data requires today, and hopefully lessons learned will be left to not revisit each of the challenges as the next transformational information ecosphere is made available.
Figure 1 The Fourth Industrial Revolution, World Economic Forum, InfoSight Partners, 2016
This time is different, in that information is the catalyst to achieving value and the platform ideally suited to house information not optimal for storage in the form of rows and columns is the big data environment. Understanding which information is delivered with intended consequences and having the management prowess to tune information shared with customers, prospects, suppliers, partners, regulators and financiers is critical for the digital economy. Additionally, it is specific to understand the challenges each platform housing information bring to the equation. This writing will focus on big data.
As we enter the digital economy, companies will quickly realize that the differentiator in the digital economy is information and information being a valuable resource is subject to theft, hacking, phishing and a host of other issues which compromise a company’s ability to participate in the digital economy. Cybersecurity misfires compromise the trust of buyers and partners necessary to participate in the digital economy. It is up to every company to ensure that the information shared with them is protected to the best of their ability and proactively notify persons and organizations who entrust their information necessary to transact business (any personal identity information including but not limited to addresses, credit card information, social security numbers, account information, credit information, medical records, etc.) with any potential compromises which can yield harm to them by that information either being used maliciously or shared with others.
This purpose of this writing is to cover some of the core requirements for implementing cybersecurity, the accountabilities for cybersecurity risks and the information used to manage a viable cybersecurity program.
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Information is the catalyst of the digital economy
1. 1 | P a g e | I n f o r m a t i o n i s t h e C a t a l y s t o f t h e
D i g i t a l E c o n o m y
Information is the Catalyst of the Digital Economy
Introduction
As we enter the digital economy, companies will find the business climate to be significantly more
volatile than they have in the past, and at the forefront of this volatility is information enabling market
participants that is shepherding in a wave of changes at an unprecedented pace. This rate of change
translates to the rate in which the viability of information organized in a specific way to meet the needs
of the organization losing its adhesion rather quickly. Understanding exactly what information will serve
the needs of the organization and how it will be combined to serve both the marketplace and those who
wield information in the marketplace despite the highly volatile digital economy is critical for the
survival of organizations.
Continuous innovation has received a fair amount of attention recently, which equates to delivering
information based products in the digital economy which provide benefits to the market participants in
ways not previously achievable. Understanding past uses of information, what processes will be
required to manage the disruption and measure the effects of the disruption are all key to monetizing
the results of any specific innovation.
To others whose processes have been marginalized through innovations being introduced into the
marketplace, their view of these specific innovations will be a disruption to their business models and
practices. These disruptions can be a permanently lowered unit cost delivered through enhanced
customer service operations, extending competitive information to the marketplace as a means of
achieving referral income or any other service which is borne from recombination of information which
can be monetized.
To understand how to manage this view of innovations and disruptions, it is important to understand
how value is obtained, how it maps back to processes and how information consumed by processes
serves as the catalyst to derive a new trajectory as a result of the innovation or disruption.
This writing will go through an explanation of how information is used through the management of
innovations and disruptions.
A primer on value
Information is made available to an organization in one of four ways:
It can be captured from someone else in the marketplace.
Existing value can be extended through cross sell and up sell opportunities.
It can be protected, in which an attempt to capture value by others is thwarted.
It can be innovated, which to others in the marketplace appears as a disruption.
2. 2 | P a g e | I n f o r m a t i o n i s t h e C a t a l y s t o f t h e
D i g i t a l E c o n o m y
What makes this period very different than the past is that information is now the catalyst to obtaining
value. In this way, the very role of information changes, and the methods to manage information should
change accordingly, to manage it as a catalyst with the specific purpose of positively influencing the net
value captured, extended, protected or innovated by the organization.
Figure 1 | Information’s role in capturing, extending, protecting and creating value for the organization, InfoSight Partners, 2016
The Four Phases of the Industrial Revolution
In the earlier articles of this series, it was discussed that information is the enabler in the digital
economy, and that information is worth more when it is used to achieve a value proposition in times
other than those characterized as business as usual. Fortunately for those organizations who have
figured out how to measure information value and treat it as an asset, we can expect a highly disruptive
business climate for the next several generations, which will favor those organizations who can wield
their information assets to derive organizational value. Information is worth more in periods of
disruption because it shapes bigger, more consequential decisions, but only if it is positioned for
consumption.
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Figure 2 | The four phases of the Industrial Revolution, InfoSight Partners, 2016, The fourth Industrial Revolution, Schwab, 2016
In the digital economy, the ability for anyone to create a disruption which will impact the equilibrium of
a marketplace is heightened, and it becomes incumbent for market participants to retune their products
and services on a more regular basis because the rate of change in the marketplace is increasing. All the
information to react to this rate of change is buried in the information available to organizations, but
rarely will it be found in the portfolio of applications managed by the organization. The cycle to publish
information for the internal systems portfolio and then replatform it for analysis just takes too long.
And in today’s world, the business stakeholder is required to figure out how to stitch the data together
to be ready for consumption by a business process. That will never work in an economy where
disruption is the norm rather than the exception.
As shown in figures 2 and 3, we are at the start of the change to a digital economy and are all feeling the
influences of the digital economy in everything we do. Organizations who prepare for this digital
economy will be prepared to survive for the next several generations.
Figure 3| The growth of the digital economy in Britain, the Economist, 2016
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Figure 4 | Disruptive Innovation, December, 2015, Harvard Business Review
In the digital economy, innovations will occur in one of three ways:
Iterations, or innovations that do not introduce exceptions to the assumptions of value
propositions nor change the status quo (remains business as usual)
Innovations, or business scenarios that introduce exceptions to the assumptions imbedded in
value propositions but do not significantly change the way value propositions are achieved (non‐
business as usual)
Disruptions, or business scenarios that introduce significant challenges to the assumptions
imbedded in value propositions and make some or all the processes executed to achieve a value
proposition obsolete (disruptions)
Information that serves as the catalyst provides insight into whether an innovation has registered in the
marketplace as an iteration, an innovation or a disruption, and triggers off appropriate processes
accordingly.
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Examples of Disruptions
Figure 5 | Four examples of disruptions, Harvard Business Review, 2014
For the purpose of this article, four disruptions have been picked. Each of these disruptions has altered
the trajectory of the market forever and has changed the landscape of the companies participating in
these markets. An analysis of four disruptions occurring in the past several years have been included in
this analysis (the iPad from Apple, Skype currently from Microsoft, Google Apps from Google and
Pandora from Pandora).
Apple introduced the iPad as an alternative to the PC. The iPad is now being disrupted by the
phone, which has grown in size and the tablet PC, which has more capabilities than the iPad.
Skype has disrupted the telecommunications industry by providing a free messaging service
which also allows greatly discounted phone calls. Skype has been recently acquired by
Microsoft.
Google Apps has disrupted the desktop applications market (word processing, spreadsheet, etc.)
with a free alternative to the desktop that better promotes document sharing.
Pandora has disrupted the music business by injecting fewer advertisements into their free
music feed and allows for listeners to extend the offering to Pandora’s premium services as
opposed to other music broadcast services.
The technologies that are expected to deliver disruptive blows early in 2017 are those that provide
market participants an assurance of a safe digital presence through advances in the security of their
digital footprints, namely those that improve identity protection through biometrics, federated
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identities and tokenization (Juniper research, February, 2016). Recent security lapses lend credence to
this prediction.
Positioning information as the catalyst to obtaining value
Information is the catalyst to obtaining value, however, most organizations do not manage information
in such a way that it can be positioned to serve as the catalyst to capturing, protecting, extending and
innovating value. It is because there is not a direct linkage between the processes that consume
information and the organization of information that information is not properly positioned in many
organizations. By understanding how to position information, organizations will improve the use of
information as a catalyst to obtaining information. There are several activities required of organizations
to be able to position information accordingly.
Traditionally, there has been a framework used which managed information based on its sourcing and
created a data store (data warehouse, mart or operational data store) which was specifically devised to
meet the needs of many consumers. Few companies enjoy using information in disruptive times
because it is up to the consumer to determine how to combine information in a way that fits the needs
of the business process. This takes time, no wonder that in recent studies it has been found that data
scientists, the members of the process teams who are the experts at understanding how to wield
information for specific analyses supporting business processes, spend almost 80% of their time
identifying, organizing and ensuring the validity of information used in their analyses.
Figure 6 |Data Scientists don’t spend most of their time analyzing data, Forbes, March 2016
The problem is that information was always managed by the source of information and published in a
way that would serve the most business stakeholders with a wide net. This was fine until information
became the catalyst for value. Today, businesses with a digital presence find the ability to build a better
mousetrap takes less time in the digital ecosphere because the machinery is also digital. This demands
that organizations that thrive will be prepared to pounce on these disruptions with a well‐orchestrated
response to the disruption engrained in information.
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Figure 7| Traditional approach to publishing data for analytics, InfoSight Partners, 2016
The next gen approach to publishing information has at its heart a directory of how information is
consumed by business processes and aligns sources to this consumption based model as opposed to the
more traditional source based model in place in many organizations.
Figure 8| Conceptual Framework to position information as the value catalyst, InfoSight Partners, 2016
The conceptual framework required to position information as the catalyst for obtaining organizational
value must include information collected through:
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A facility that integrates data through some level of transformation services performed through
a scripting language. Typically, this is an ETL (Extract, Transform & Load) environment but can
be accommodated by an organization in a variety of means. What is important for the mapping
of information to process is understanding what the outputs of these processes are, which are
all potentially consumable information by the processes of the organization.
A facility that is aware of the content available in a portal or some other facility which can be
used as context for the information used by the processes of the organization.
A facility that is aware of the streamed data and logs available to the processes of the
organization.
A series of management workbenches to manage the information available to processes, map
the information to processes and facilitate the recording of information consumed by processes.
An orchestrated, repeatable process used to compute the value of information.
It is important to note that much of the information utilized as the catalyst for obtaining organizational
value is not housed in the operational systems of an organization, but rather in social media, log centric
activity made available and other streaming information used to identify non‐business as usual and
disruptive situations that need to be dealt with by an organization. It is these uses of information where
the catalytic value of information is most prevalent.
The roadmap to enabling information as the catalyst to obtaining value
To utilize information as a catalyst to obtaining organizational value, seven things must be in place all of
which play a role in realigning the vision of how information is managed. These are:
1. Organize to manage information as a non‐depleting but expiring asset of the organization as
opposed to the most common way of managing information practiced today.
The more prevalent practice today is managing data in alignment to its sources and
publishing information to meet the needs of as many processes as possible with a single
well devised data model.
For information to be consumable at the rate of business in the digital economy, is
greatly hampered without a tight alignment of information to the process consumption
patterns, thereby eliminating the time data scientists spend identifying and reorganizing
information for the specific needs of processes (currently almost 80% of their time is
spend doing this).
2. Implement the framework that is used to measure the value of information through a
repeatable, orchestrated process that could withstand the scrutiny of an audit. This framework
must accommodate information commonly available in internal data warehouses, often limited
to that which is generated by systems of the organization as well as streaming sources, log
centric sources of information (web logs, mobile logs, Internet of things (IOT) logs, security logs,
etc.) and information commonly not suitable for representation in a tabular framework (Figure 3
contains a pictorial view of the framework, which is a technical framework to be implemented
or acquired by each organization).
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3. Ensure the availability of an orchestration layer, which is utilized to record information available
to business processes and record the use of information, which is then aggregated to record
information value. This orchestration layer must be repeatable and capable of withstanding the
scrutiny of an audit.
4. Assign accountabilities to engineer the shift to focus on managing consumable information
products and away from managing data sources. The major roles are:
Role Current Accountability Nextgen Accountability
Chief Data Officer Champion Data Assets Elevate Information Asset
Valuations
Chief Analytics Officer Drive Business Analytics Encapsulate Business Analytics
Chief Risk Officer Eradicate Operational Risks + CyberRisks
Data Governance
Council
Improve Data Assets Eliminate Information Use
Resistance
Chief Information
Officer
Manage Data Assets Manage Information Machinery
Data Asset Manager N/A Manage Information Inventories
Data Steward Business Rep for Data Assets Bus Rep for Information Assets
Business Stakeholder Interfaces Stewards Interfaces CDO
Figure 9| Conceptual Depiction of the Value of Information, InfoSight Partners, 2016
The Chief Data Officer, who is the architect of the map that depicts which information is
made available for consumption by business processes and negotiates the valuation
split made available for information (the royalty computation).
The Data Asset Manager, who is a new role and is responsible for managing the data
and information assets of the organization.
The Chief Risk Officer, who is responsible for identifying and assuring the eradication of
risks to obtaining organization value through information. This includes the
identification and eradication of cybersecurity risks.
The Chief Information Officer, who is responsible for managing the machinery used to
transform data into information.
The Chief Analytic Officer, who is responsible for creating models and algorithms and
encapsulating repeatable models and algorithms used to create organizational value.
The Data Governance Council, who is accountable for eradicating resistance to using
information.
5. Develop processes to capture business model and strategic intent changes that will trigger
changes to the information – process map. Some of these facilities are depictions of business
models (e.g., the business model canvas, Strategym), Potential Market Disruptions (e.g.,
visioning of market disruptions, InfoSight Partners), the value proposition vision (Vision
Storytelling Canvas, InfoSight Partners and an understanding of the collaboration points for
business processes (design thinking and collaboration canvas, InfoSight Partners).
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6. Measure the potentially consumed and consumed information by usage scenario (marginally
aligned or reports, business as usual scenarios, non‐business as usual scenarios and disruptive
scenarios).
7. Devise metrics to manage the transformation from a source aligned information management
organization to a consumption aligned information management organization and communicate
the metrics which includes the potentially consumed, consumed and resistance measurements
on a regular basis.
Figure 10| Roadmap checklist to enable the use of information as the catalyst for obtaining value, InfoSight Partners, 2016
About the Author
Mark Albala is the President of InfoSight Partners, LLC, a business
consultancy which provides financial and technology advisory services
devised to facilitate focus into the value of information assets. InfoSight
Partners is led by Mark Albala, who has served in technology and thought
leadership roles and serves as an advisor to analyst organizations. Mark can
be reached at mark@infosightpartners.com.