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Showing posts with the label digital commerce

The Mindset of a Digital Winner

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I recently presented my views on how to succeed as a digital leader to over one hundred retail executives in Asia.  They seemed to find it useful, so now I am sharing them here in an article format in the hopes that others might benefit.  The content is my synthesis of findings that are derived from many different research projects and hundreds of interviews I have conducted with executives. Digital winners think differently about digital innovations.  They quickly recognize how new innovations can offer benefits. They expect and look forward to finding and capturing competitive advantages in new trends and technologies.  They expect, at a higher level, to receive positive ROIs from their investments in new innovations.  They are both more optimistic and enthusiastic about emerging technologies and possibilities.  They are honest about their digital maturity, and where they are failing to keep up with change. Digital laggards, on the other hand, are slower to understand how new digital

Digital Transformation in Marketing with SAP's CMO of Customer Experience Kevin Cochrane

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I am excited to share my interview with Kevin Cochrane, SAP’s CMO of Customer Experience.  SAP, as one of the largest global technology companies, has been in the midst of an impressive level of digital transformation in sales, marketing and customer experiences.  They have been deeply involved in supporting GDPR (global data protection regulation), focused on improving personalized customer experiences, and developing new brands and products (C/4Hana) to support digital commerce, sales, marketing and customer services all while helping them develop a more intelligent enterprise.  Enjoy! ************************************************************************ Kevin Benedict SVP Solutions Strategy, Regalix Inc. Website Regalix Inc. View my profile on LinkedIn Follow me on Twitter @krbenedict Join the Linkedin Group Digital Intelligence Join the Google+ Community Mobile Enterprise Strategies ***Full Disclosure: These are my personal opinions. No company is silly

Digital Transformation in Retail - 13 Action Steps

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The behaviors and expectations of today’s consumers are rapidly evolving under the influence of digital and mobile technologies; as a result, retail growth and profits are quickly shifting to digital commerce. These changes require retail industry decision makers to acquire real-time situational awareness, new digital strategies and a digital mindset around business transformation. Retailers must recognize and act proactively when customers, competitors and markets change by deploying the appropriate digital strategies and technologies in the right sequence to maximize returns and competitive advantage.  We encourage retail executives to understand and follow these 13 actions: Recognize the need for digital transformation extends beyond websites and mobile apps to the entire organization and across all business processes. Understand the degree of change occurring in retail as a result of customers’ fast-changing behaviors. Judge accurately where your organization stands on a d

How Digital Thinking Separates Retail Leaders from Laggards

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George Lucas, creator of Star Wars, once said, “You can’t do it unless you can imagine it.” In our latest research on the future state of work in the retail sector, we find many industry executives struggling to imagine where the future is leading them and their organizations, not to mention the role digital technologies will play along the way. Traditional retailers are challenged by rapidly emerging new business models, such as Amazon Go and Facebook’s launch of its digital commerce platform, Marketplace. Moreover, pioneering companies in the sharing economy (i.e., Uber) are expanding from their initial markets into areas such as food delivery, while insurgent retailers, such as Sun Basket, are combining digital and social media platforms, mobile apps and massive volumes of new data to encroach on retailers’ territory. These nontraditional competitors are changing the rules of the retail game via disruptive strategies. To better understand the strategies and technologies that

Robots, AI and the Next 40 Months

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In a world that operates on billions of digits every day, humans are too slow and inattentive.  To adapt, we must automate the processing of millions of complex transactions on a daily basis, at speeds fast enough to satisfy impatient digital users. This adaptation requires a massive level of digital transformation that can support operations, business processes and decision-making speeds faster than is humanly possible. Historically, digital technologies get faster, cheaper, more powerful and smaller every couple of years. We humans, however, don’t. We operate in human time, a biological cadence influenced by the physical environment, our well-documented physical, mental and emotional limitations, and the universe that we live in. As digital interactions proliferate, so also does the volume of real-time data and required analysis. Most people are already at their limit of coping with the deluge of data, so we must now digitally augment our capabilities to handle the massive incre