FURTHER READING…

Alexandra Jankovich and Tom Voskes are the co-founders of leading digital strategy consultancy firm SparkOptimus. Together with Adrian Hornsby, they are co-authors of the book ‘Disruption in Action: 7 inside stories of how global companies take on digital disruption’.

Disruption in Action reveals how to take on digital and win. It tells seven company stories, covering the high-level strategy through to the operational nitty-gritty, all based on the authors’ inside experiences as Europe’s leading digital transformation experts. They take a unique fictionalised approach to dig deep into not just the tech, but also the people side of change, which is always where the real complexity lies.

WHAT NOT TO DO IN TIMES OF DIGITAL DISRUPTION, FROM THE EXPERTS WHO CLEAN UP THE MISTAKES

Digital disruption presents leaders of traditional companies with a cluster of challenges. Firstly, it often implies big changes to the business model, meaning big risks. Secondly, it requires big investments in projects that may not be profitable for years – something that is well-accepted in digital startup-land, but much less so among corporate

Data And Analytics

STRATEGY FOR BUSINESS: UNLOCK DATA ASSETS AND INCREASE INNOVATION WITH A RESULTS-DRIVEN DATA STRATEGY

By Simon Asplen-Taylor

Published by KoganPage (2022) shareholders. And thirdly, in new digital markets, there are no reliable predictors of success. Th is is one thing if you’re a startup; another if you’re a large company used to industry gold standards and established KPIs.

Data and Analytics Strategy for Business outlines how to build consistent, high-quality sources of data which will create business value. It explores how automation, AI and machine learning can improve performance and decision making. Filled with real-world examples and case studies, this book is a stage-by-stage guide to designing and implementing a results-driven data strategy.

These challenges are less about technology than human mindsets and expectations, which in many ways are much harder to change. It would be simpler if you could just buy something to fi x the problem or pass it to someone else – which is indeed what many companies try to do.

One option is to buy some IT, but large-scale software overhauls developed outside the business tend to be a poor fit for the company’s needs and fail upon launch.

Another is to make some digital acquisitions, but large corporates often pay over the odds for startups that fail to grow, get bogged down by corporate rules and don’t change the core business.

Another is to launch an innovation lab, but it’s estimated that up to 90% of these fail to deliver. Set up outside the business with a lack of clear goals, these often descend into “innovation theatre” for C-suite leaders.

Another is to appoint a new CDO-come-DigitalMessiah from a big tech company, but they don’t know the business and, lacking internal allies, struggle to get much done.

So what does work? Th is is what is explored in ‘Disruption in Action,’ and to sketch out an example here, we can look at a fast moving consumer goods (FMCG) company. As is typical, they had bought a number of digital acquisitions, but next found one was getting attacked by a new startup that was buying all their online traffic.

The FMCG leaders were inspired to fight back, but knowing they couldn’t win a straight buying war, they looked to leverage their advantages as a large corporate: they had superior industry knowledge and a large existing customer base. They used these to help the acquisition turbo-charge growth, but more significantly, through the increased collaboration, they started to see ways to improve their core business, especially around the use of data.

There are two keys to this success: fi rstly, a meaningful engagement from leaders with digital (as opposed to just a handing-off of the problem); and secondly, a tangible business case where solutions were being found for real customers. Together these open the door to changing mindsets, at which point, the technology aspect just becomes a means to an end.

Impromptu

By Reid Ho man

Published by Dallalpedia LLC (2023)

Impromptu is a speculative, in-depth conversation involving GPT-4 – a Large Language Model Artificial Intelligence. By discussing real-life stories and potential applications, it paints a future in which Artificial Intelligence is a tool that can push the limits of education, creativity, business, and more. Join the conversation, and prepare for an exciting future that will unlock the true potential of humankind.

The Metaverse Handbook

By

QuHarrison & Terry Keeney

Published by John Wiley and Sons Inc (2023)

The Metaverse Handbook provides insight into a new technology platform that offers huge commercial potential to digital professionals, creatives, and business leaders. It explains what the Metaverse is, how it works, and ways to integrate it into business strategies to capitalise on its offerings.

By KELLIE MILLER