Tuesday, July 12, 2016

"CIO Master" Book Tuning XXXXXXV: IT Effects in Radical Digital

IT effects in radical digital is to be an integrator in knitting all important business factors, to improve business agility, flexibility, and innovation.

The organization’s digital transformation is not just about designing a fancy website, or playing the latest technological gadgets, but an overarching approach to optimize business processes, innovate business models, and digitize the touch points of customer experience. Digital strategy is a type of business strategy, enabled by information and technology. A strategy is always going to be driven top down whether a digital strategy has to incorporate disruption or not. But a digital strategy execution is no longer just the linear step, but a dynamic continuum, because it needs to evolve the emergent digital trends, make appropriate management adjustments, become customer-centric and make a continuous delivery. Digital technologies are disruptive forces of digital transformation, and IT plays a significant role in radical digital transformation.

A strategic CIO will craft cloud as part of IT strategy which is an integral element of corporate strategy: At the dawn of digital, IT plays as a service broker and a digital integrator to orchestrate business solutions not only serving internal customers but also improving end customers' touch point seamlessly. To do so, a CIO should be prepared to develop a holistic strategy to leverage internal, external, and hybrid clouds, and decide on a transformative or step-wise approach. It’s essential that the CIO is optimistic but prudent about moving functions to the cloud. Once the CIO is convinced that a particular function is suitable for a cloud initiative, he or she must be able to convincingly articulate business benefits to functional leaders in the C-suite. Examine the companies' needs to identify new business opportunities that will be most beneficial and will yield the best ROI. - Consider the cloud fit application in the IT portfolio as candidates to the cloud, and anticipate and address all potential IT GRC issues. Although failures in some percentage of new technology-enabled business models are guaranteed and sometimes, waiting for a little maturity can put later adopters on a preferable learning/cost curve. The point is to take a holistic approach, not just a few isolated practices, to leap a radical digital transformation.

IT leaders should set guidelines to adopt the enterprise social platforms and tools to enhance cross-functional communication and collaboration: The rise and advance of enterprise social technologies have the potential to dramatically alter the business information landscape and the organization’s ability to more effectively leverage corporate information and knowledge management, to break down functional silos and build the enhanced integration capabilities, and support connections and interactions between individuals and communities, between individuals and information assets, and to facilitate enterprise activities in all of their possible combinations. Enterprises that diagnose what’s wrong with internal collaboration and prescribe a many-to-many cure are trying to weave social networking into the information fabric in a complementary way. They are also working on the organizational aspects of creating incentives, reengineering processes, and leveraging collaboration tools to make information flow relevant to specific groups and individuals, and running a digital organization as a “living organic system,” not just the sum of mechanical pieces.

Information Management helps to optimize various business management, directly or indirectly related to long-term revenue: Data/Information Management is "the systematic selection, transformation, and presentation of data, through technological and quantitative processes with algorithmic methods, to automate or support business decisions." From noble business purpose perspective, data and information management can make a significant effect on multi-faceted aspects of the business. It includes traditional optimization, root cause analysis, and statistical analysis / machine learning / data mining to boost efficiency of marketing campaigns, price optimization, inventory management, finance and tax engineering, sales forecasts, product reliability, risk management, user retention, product design, spending analysis, employee retention and predicting success of new hires, competitive intelligence leveraging external data source, forecasting new trends based on automated analysis of user feedback and much more. Information Management can weave all crucial business elements to a set of differentiated enterprise capabilities to driving radical digital in a structural way.
Besides the disruptive digital technology trends, IT effects in radical digital is to be an integrator in knitting all important business factors, to improve business agility, flexibility, and innovation; to deliver the tailored business solutions for accelerating digital shift and to empower employees with efficient tools to improve their productivity, and to achieve the ultimate goal of building a customer-centric digital organization.


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