Welcome to the Hyper Connected World
We are now living in the Hyper Connected World where People to People, People to Things and Things to Things are connected due to advancement in Mobile, Long Term Evolution (LTE), IPV6, M2M Communication and Social Networks. Hyper connectivism has forced people to adapt to a Digital Lifestyle and also giving life into non-living things like car, machines, equipment, etc.
Digital Life Style of People
- Idea to action in minutes
- Anywhere anytime contextual services / information
- Purchase decisions based on online research
- Real time engagement
Life to Non-living Things
This is a major disruption which enables non-living things like cars, equipment, machines etc to communicate with each other through sensors and networks.
- Sensors enabling non-living things to sense
- Embedded software enabling non-living things to become intelligent
- Wireless communication enabling non-living things to communicate each other
- Predictive analytics software enabling non-living things to see the future.
Traditional Enterprises whose business models, business processes, business operations, etc are built many years back fail to meet the needs of hyper connected world. It is estimated that 40-50% of the traditional enterprises will sunset in the next 5 years. Traditional Enterprises needs to transform themselves to Digital Enterprises. This transformation in to a Digital Enterprise requires positive disruptions in the business model, business value chain, business operating Model and business metrics. The existing Applications/ IT Infrastructure are built only to support TRADITIONAL ENTERPRISES. Hence, Digital Enterprise transformation also requires a positive disruption IT strategy, IT architecture, IT Infrastructure and IT Application portfolio of an organisation.
This will happen only when these enterprises leverage the power of COVERGENCE of technologies like Networks, Mobility, Analytics, Cloud, Security, Social Computing, Sensors. These technologies dramatically impact the business processes and hence the business operations.
In the next 3 – 5 years almost every key industry would become digital and we will see the emergence of Digital Telcos, Digital Retail, Digital Manufacturing, Digital Automotive, Digital Healthcare, Digital Energy, Digital Logistics, Digital Banks, Digital CPG etc.
Tech Mahindra has defined six characteristics of a Digital Enterprise which are a must to become Future-Proof & Future Ready.
A Digital Enterprise has predictability in the Business Value Chain
Enterprises must be able to predict their businesses at various points of their business value chain. The key is to see the future of business and take right decisions at right time.
A Digital Enterprise offers intelligent solutions & services leveraging digitally intelligent products, machines and things:
Enterprises must be able to develop digitally intelligent products (eg: Cars, ATM machines, jet engines, medical devises etc.) to enable monitoring predictive maintenance & provide superior customer experience. Enterprises must be able to establish digitally intelligent machines for high productivity, operational excellence, real-time remote monitoring & predictive maintenance. Enterprises must be able to build digitally intelligent things which can proactively send the alerts for necessary actions. (eg: A plant might send an alert when the water level has gone down in soil)
A Digital Enterprise must align with Gen Y culture of employees, partners and customers:
Enterprises must establish the policies, procedures, practices & systems to deal with Gen Y Employees, Gen Y Customers and Gen Y Partners.
A Digital Enterprise should provide Real Time Customer Engagement & Superior Customer Experience:
Enterprises must be able to understand the behavior, mood & sensitivity of customers in real time and provide superior experience by engaging them in real time. Enterprises must engaging customers in real time and providing superior experience to their customers.
A Digital Enterprise should leverage collective Intelligence of Employees, Partners and Customers:
Collaboration and harnessing the collective knowledge pool, is becoming an increasingly important method to resolve problems, solve issues, create or co-create with teams, partners and customers.
A Digital Enterprise should provide anywhere, anytime business transactions and contextual information:
Today, customers, employees and partners expect to complete transactions NOW Customers are connected to gadgets almost 24X7. Digital Enterprises provide context based real time information, context based real time intelligence with employees, partners & customers (using mobile).