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The digital world did not exist a generation ago, and now it is a fundamental fact of life. The world spawned by the personal computer, the Internet, social media and the smartphone now constitutes the greatest arena of public discussion and debate the world has ever known. Business leaders, on the other hand, can’t wait until evolving technologies are having these effects to determine which developments are truly big things. They need to understand how the competitive advantages on which they have based strategy might erode or be enhanced a decade from now by emerging technologies – how technologies might bring them new customers or force them to defend their existing bases or inspire them to invest their new strategies. 1. Bounce Back from Early-stage Failures Leading organizations, from Apple to Google and beyond, have learned from early-stage failures. A classic example is Apple’s Newton PDA tablet in the 1990s, a flop whose core concept eventually found its way into the iPad. Jobs turned away from Apple’s failing original vision of a computer-only company and began creating the cornerstone of the turnaround– iMacs, iPods and iPhones. 2. Discover a Product’s Viable Alternate Use First, analyzing a failed drug sometimes reveals that the drug may have a viable alternate use. For example, Pfizer’s Viagra was originally designed to be a treatment for angina, a painful heart condition. Similarly, Eli Lilly discovered that a failed contraceptive drug could treat osteoporosis and thus developed their one-billion-dollar-a-year drug, Evista, while Strattera, a failed antidepressant, was discovered to be an effective treatment for hyperactivity/attention deficit disorder. 3. Embrace Change An important imperative is to embrace significant change. Companies can thrive by listening to their customers—including their most spirited critics—and using what they learn to revolutionize their approach to what they do. Companies that have been in business for many years before their fortunes decline are the victims of a relatively small number of problems. The first of these is bad management. This has happened at Boeing (NYSE: BA) and Dell (NASDAQ: DELL). Executives often make mistakes in executing their plans. The Boeing’s 787 Dreamliner, for example, has been delayed several times. Dell has had legal problems and, according to some sources, released products it knew were flawed. 4. Emphasize Culture and Focus Loyalty leaders like Whole Foods, Southwest, Zappos, Enterprise, Apple and Wegman’s take a different approach focused on the long term. They place an emphasis on culture and focus on adding value for customers. These organizations lead with their heart. More often than not troubled companies often move back to their roots. That certainly happened at Starbucks and Ford. Other firms believe that they are missing one or two critical elements to be successful again. Those elements can be built, but are often bought as was the case when HP bought EDS. 5. Give Value to Customers Companies differentiate themselves through added value for both customers and employees – “quality” and “customer delight” are tightly linked. Unless the customer perceives the product as doing at least what it claims to do, it will not generate delight. Companies that behave honestly, transparently and unselfishly after product recalls and mishaps demonstrate an ideal to which they aspire, though they may have fallen short in a particular instance. There are very few large American companies which have come close to collapse and then become wildly successful again. Most extremely successful U.S. corporations start small and get big. The is certainly the case, such as Google, Exxon Mobil XOM, Intel, Coca Cola, McDonald’s, Wal-Mart and Procter & Gamble. 6. Extend Loyalty Even through mishaps, customers may forgive the company's leadership, and in forgiving them, customers affirm their ideal, encouraging them to continue to aspire to it. Even the harshest critics, when treated fairly and with respect, often become a company's most loyal fans, because in getting their complaints resolved, they've been granted a sense of that company's ideal self. The net effect is increased satisfaction, reductions in attrition and positive word of mouth. A case in point is IBM as it was quickly becoming irrelevant and experiencing chronic low growth. The company also made some bets that it would be able to dominate in both consumer and business hardware and software, which it ultimately lost. That left the company floundering until some big changes to the business culture and a refocus on IBM’s true strengths eventually turned things around. The new IBM was leaner, meaner and more focused and efficient than before — primed to make a big impact in the market. 7. Make a Turnaround Push A successful company requires both a well-defined problem to solve and a well-formed solution that addresses the problem. Consider the turnaround push that Jan Carlzon undertook at Scandinavian Airlines Systems (SAS) in the early and mid-1980s. To improve the company’s ability to attract business customers, Carlzon aimed to improve the level of service that frontline employees could offer. The best way to do so, he concluded, was to empower those employees — to give them greater autonomy and flexibility in how they did their job. Yet they could exercise that autonomy fruitfully only if SAS leaders also gave them a big-picture sense of what the company was aiming to achieve. Carlzon, in a study of his early work as CEO, put it this way: “Anyone who is not given information cannot assume responsibility. But anyone who is given information cannot avoid assuming [responsibility].” 8. Avoid Lay-offs In its 25 years, Southwest Airlines has never laid off workers. Downsizing may be the only key concept the business schools invented before Herb Kelleher thought of it. Southwest also maintains its low costs by keeping its planes in the air. In Closing Technology is evolving from a linear knowledge-transfer model, to a more collaborative, engaging process. In almost every sector, there are once-dominant enterprises that find themselves on the wrong side of a shift in customer demand or the emergence of a disruptive technology. You know their names: Hewlett-Packard. Starbucks. Best Buy. Research in Motion (Blackberry). RadioShack. And, more recently, JC Penney. Success, it's been said, is determined not by whether you fall down but by how you get up. To that extent, every company's mistake represents an opportunity to improve its standing in terms of warmth and competence among its customers, but only if the company is ready to respond to its moment of truth with worthy intentions. From connected homes and connected cars to smart buildings and transportation, every aspect of our lives will be affected by the increasing ability of consumers, businesses and governments to connect to and control everything around them. We would not eventually have developed the many innovations that revolutionize how we live today – including the personal computer, email, the Internet, the mobile phone, the tablet or any of the endless applications built on these technologies. The great thing about us is we’re curious people. We explore technologies, and we explore products. We would not have Google, Twitter, Amazon, Zipcar, Airbnb, Uber or countless others. Rapid and continuous changes in the business requirements have changed the development methodologies. Finally, I remember the well-said quote: Although a hundred entrepreneurs may fail for each one that succeeds, the successes make the failures worthwhile. A 90-percent probability of failure means a 10-percent chance of changing the world, if the goal is ambitious enough. Article written by Raj Kosaraju Image credit by Getty Images, Corbis, David Shopper Want more? For Job Seekers | For Employers | For Influencers
The way people use the media and social networks, investing part of their time and attention, has changed dramatically in recent years. A good example is the precious convenience provided by mobile media, which is a strong 21st century attribute to better manage the vast amount of information; advertisers seek quality services, technologies and applications that help organize and make the implementation of programmatic media. We are living in the Digital Era, and the consumer has full power of choice and forces advertisers to go through a major adjustment to present unique customer experiences, personalized and adapted to preferences and needs. Every day, no matter what we are doing, we receive information that turns into moments of "inspiration and desire." We therefore believe that only aiming for the right individual based solely on profile information is no longer enough for advertisers. Now, the moment is what matters! The success of an advertiser in this brave new world will depend on the ability to understand the ideal moment to perform a defined action and leverage ROI. To reach this point, it needs to look for other parameters like: know your customers and understand how they respond in different situations, making decisions in fractions of seconds on how and when to present its proposal to the user. An individual has different habits every day. What makes the 2pm on a Tuesday different from 2pm on a Saturday? Everything around us can influence the buying decision – if a person bought a plane ticket, whether it’s raining outside or recently watched an Internet video on how to build a new plot. All these different times combined can indicate to advertisers the best advertisements for specific occasions. Called moment scoring, the resulting supply of this simultaneous calculation is combined between the artificial intelligence (AI) and big data. Our AI is constantly evolving as our algorithms improvise calculations, thus adding information during the process, increasing and improving the influence of marketing for the next opportunity to view an ad. From this formula, data is generated continuously, reaching more successful campaigns within the attributes of the desired public profile. Another example of the effectiveness of AI use is rapid diagnosis. A campaign is offered for people interested in sports due to purchases made while sailing sites of this segment by assigning a filter of interest between them. Over time, the AI learns and identifies who these users are fans of in certain categories, such as football. With this result, the consumer will receive a new score, with a larger number to the previous one with a full base of their interest, diminishing the focus for lovers of other sports. With this amount of stored data and decision-making speed, the machines are ready to work; however, it does not mean that human contribution is not required. Remember, all of artificial intelligence learning process requires human understanding – the ability to observe many factors that enter and leave the game – adjusting parameters, messages, creativity and optimizing their results. Within this complex virtual world, to know the actual value of each impression is the crucial difference for a successful advertising campaign. What is the likelihood of a user replying to your ad right now? This is the main issue. And the best thing is, you do not try to guess when you have provided artificial intelligence and big data to inform responses. In other words, the right moments are important to generate the love to your brand and, of course, the best results for your campaign. Article written by Edvaldo Acir Want more? For Job Seekers | For Employers | For Influencers
There are a number of technologies that higher education CIOs should have on their radar this year, especially as they look to enhance their competitive advantage and support emerging business models. “Institutions looking to thrive in the expanding education ecosystem must leverage technology early on that enables them to become more innovative,” said Glenda Morgan, senior research director at Gartner. The top 10 strategic technologies impacting higher education in 2019 are: 1. Next-Generation Security and Risk Management There are a variety of factors — global regulatory compliance, growing Internet of Things (IoT) landscape, expanding software as a service (SaaS) portfolio — that are starting to force higher education institutions to address security and risk matters with a multidimensional strategy. “Next-generation security must offer new approaches that support digital business and the institutions’ academic, research, and business objectives,” said Morgan. “The average modern-day student expects seamless personalized experiences, so the typical security objectives of confidentiality, integrity, and availability must expand to include privacy, safety, and reliability as institutions become more digital.” 2. Artificial intelligence (AI) conversational interface AI conversational interfaces are a subset of conversational user interfaces (CUIs), in which user and machine interactions occur in the user’s spoken or written natural language. CUIs place responsibility on the machine interface to learn what the user wants, rather than the user having to learn the software, saving user time, increasing student satisfaction, and being available to use 24/7. “CUIs have seen an explosive growth in higher education,” said Morgan. According to the 2019 CIO Agenda Survey , the percentage of higher education institutions that have deployed or have plans to deploy the use of CUIs jumped from 18 to 38 percent in just one year. 3. Smart campus A smart campus is a physical or digital environment in which humans and technology-enabled systems interact to create more immersive and automated experiences for university stakeholders. Smart campus initiatives are still in the early stages, but there has been a rising interest across higher education institutions. “The smart campus will drive growth in markets like robotic process automation (RPA) solutions and augmented and virtual reality (AR/VR) in the higher education space. Campus efficiency will be enhanced and student learning will be enriched with the new capabilities they bring. It’s a win all-around, except for the data security implications that come with most technology initiatives today,” said Morgan. 4. Predictive analytics Predictive analytics use historical data to recognize patterns and assess likely outcomes using statistical or machine learning techniques. They can assist in everything from calculating student demand for a certain course or identifying students at risk of failing, dropping out, or transferring. “Predictive analytics can be a particularly powerful tool for CIOs in higher education,” said Morgan. “Skeptics might claim the outcomes of predictive analytics — such as identifying a potential student drop out — could have been otherwise determined, but their real power comes from the way these analytics systems socialize the prediction at hand among a range of stakeholders to remedy the issue at hand.” 5. Nudge tech Nudge tech is a collection of technologies — cloud, mobile, social, and data — that work together to achieve timely personalized interaction with students, staff, and faculty, such as a just-in-time text (SMS) reminder for class. “The idea behind ‘nudging’ is for institutions to use data to impact behavior, like establishing good studying habits or making time for fitness in between classes,” said Morgan. “Above all, nudge tech is a concrete example of how to achieve personalization at scale, which is becoming a key competitive advantage in an increasingly global and digital education ecosystem.” 6. Digital credentialing technologies Digital credentials are a natural evolution from traditional credentials in eliminating fraud. The maturity of technologies like blockchain and data encryption, coupled with the evolution of professional networking sites, are driving a change in the delivery of higher education credentials. Students, faculty, and the higher education institutions they are a part of are starting to expect the ability to quickly and freely exchange credentials to enhance the verification and recruitment process. “In many ways, credentials issued by an education institution are the only tangible evidence of higher education. They should be considered the currency of the education ecosystem,” said Morgan. “These technologies really enable universities to leverage technology to improve the student experience by giving them more control over their information. The only hurdle is a general lack of understanding of digital credentialing technologies and risk-averseness in the high-stakes nature of the higher education market.” 7. Hybrid integration platforms Educational institutions are increasingly adopting cloud-based business applications, resulting in a hybrid portfolio of cloud and on-premises systems. Adding to the complexity of the multiple integration capabilities that the hybrid approach requires is the presence of the educational institution’s customer relationship manager (CRM) and learning management system (LMS) tools. A hybrid integration platform (HIP) leverages the best in-the-cloud and on-premises integration approaches, and it is rapidly becoming the reference framework for next-generation integration infrastructure. 8. Career software The importance of career software has peaked globally as educational institutions become increasingly accountable for their students’ outcomes after graduation. “Historically, career software was found in the career offices in professional schools, such as business or engineering, but we are seeing institutions explore the option of deploying a single enterprise level career-focused tool,” said Morgan. “The market for career software is large and diversified, so universities must take the time to invest in the tools that fit its needs and specific ecosystem.” 9. Student cross-life cycle CRM Student cross-life cycle CRMs create a campus-wide, 360-degree view of a student across his or her major educational phases, beginning with precollege and moving through prospect, applicant, enrolled, graduated and alumni statuses. Historically, most higher education CRM deployments have been driven from the functional needs of individual departments without enabling a single view of the student. 10. Wireless presentation technologies Wireless presentation technologies allow users to project material from a computer or mobile device onto a screen using a wireless network, rather than hard-wired connections like a projector. Wireless presentation technologies are likely to become more important, as higher education institutions move to bring your own device (BYOD) and as the use of mobile technologies, such as tablets, increases. Upcoming IT symposium Learn more about CIO leadership and how to drive digital innovation to the core of your business at Gartner IT Symposium/Xpo 2019 . The next one will be held June 3-6 in Toronto, Canada. Article published by icrunchdata Image credit by Getty Images, Johnny Greig Want more? For Job Seekers | For Employers | For Influencers
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