Fast Tempos and Digital Transformation
“ What matters most is the tempo of change. ” ~ John Boyd Few businesses would argue that data collection and analytics are not important to their current and future success. Data can provide situational awareness, enhanced customer service and more personalized experiences. It also supports vigilance and the ability to recognize both problems and opportunities early. The problem, however, is not many enterprises can act on the data fast enough to matter. In most companies, organizational structures, decision-making processes, business models and business cultures aren’t nimble enough to change at a tempo fast enough to capture competitive opportunities and respond to challenges. In today’s world of digital transformation and fast changing mobile and online consumer behaviors (see Cutting Through Chaos in the Age of Mobile Me ), businesses must be as nimble as their customers, or they risk losing market share to a nimbler competitor. The First Law of Thermodynamics states,