Thursday, August 15, 2019

Build a Cognitive Digital Business to Unleash its Potential

 The cognitive organization is complex enough to act intelligently and nimble enough to adapt to changes promptly.

The effects of an increasingly digitized world are now reaching into every aspect of organizations. Today’s businesses are dynamic and complex, they have to keep improving their cognitive ability to solve tough problems and implement great ideas successfully. Either at the individual or organizational level, cognition involves exploring a variety of meanings, absorbing and digesting information from varying sources, it’s a sort of perception and insight. Digital organizations are information oriented and people-centric, it’s important to improve their collective cognitive maturity to accelerate business performance and unleash its full potential.

Cognitive understanding requires an ability to grasp or comprehend information: We live in the exponential digital era, there isn't really much of an enterprise without the massive oceans of data that flows through the company at any given split second. Information is the lifeblood of business, the quality of intelligence depends greatly on the quantity of information. The cognitive ability of the organization depends on how effectively they can process information and make data-based, on-time decision in a consistent way. It is the aggregation and the assessment of information that create the intelligence required to run a highly cognitive organization. Information is all that is used to create the intelligence and shape a good strategy; as well as to test the results of strategy execution. It will be those companies that proactively invest in information Management solutions today will be able to competitively leverage their own information going forward and ensure that Information Management activities are effective by delivering tangible and visible business benefits for their long term benefit.

Improve organizational cognitive maturity to enable holistic management disciplines: Information is fluid, it has to flow frictionlessly to ensure the right people getting the right information to make the right decisions in a timely manner. Thus, digital organizations need to break down functional silos and embrace the holistic management discipline. A cognitive organization can respond to business opportunities and risks promptly, to ensure the organization as a whole is superior to the sum of pieces. The value of information must be qualitative, measurable, and defined uniquely by an organization. To deepen the level of understanding and improve organizational cognitive maturity, it’s critical to manage a healthy information-innovation business cycle, bring data-based insight, fine-tune underlying business functions and processes to improve business responsiveness and performance.

The art and science of information management are to optimize its usage and achieve its value and full potential: Information is the golden thread of the digital organization. With overwhelming growth of information, faster pace of changes and unprecedented business complexity, business insight and foresight are critical to navigating the organization into the uncharted water and blurred digital territories. Information Management involves the use of technologies and processes with the aim of refining customer insight and business foresight. The goal is to predict what will happen and step further and what you should do upon it. It helps the company prepare the journey for either capturing the rising business opportunities timely or preventing potential risks effortlessly. Information abundance brings about fresh business ideas which generate business value. When information gets stuck, innovation is stifled and business suffers. Cognitive digital organizations can harness the power of data to provide the emergent business trends with a fact-based vision of where to aim and how to get there. It’s the scientific management discipline of business orientation to achieve the long-term success.

The most important capability of a cognitive business is the willingness and ability to seek out information & knowledge, gain in-depth understanding of their business, capture business insight and foresight, address ignorance and assumptions, and improve business risk intelligence. The cognitive organization is complex enough to act intelligently and nimble enough to adapt to changes promptly.


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