It has now been roundly acknowledged that for effective digital transformation, more than the mere change in technology, a cultural reboot is needed. For that to happen, the talent recruitment needs to be geared in order to acquire talent in four critical areas. One of them is of course, in technology. Another is for people who are adept at data warehousing. The third key area is in the processes. The last one will be for people who can pull it all in the same direction. They are those who possess the capability in effecting organizational change. An appropriate sequence is to be ascertained for the same. Simply automating a process won’t work if all the disparate parts do not function in a synchronous format.

Source:https://hbr.org/2020/05/digital-transformation-comes-down-to-talent-in-4-key-areas?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_not_activesubs&referral=00563&deliveryName=DM81229

Uploaded Date:25 May 2020

The future of personalization has possibly arrived, and it has exciting changes, to which professionals need to get ready for. One of them will be the digitization of physical spaces, set against GPS trackers and AI- powered programmes, as already being implemented by Starbucks, Sephora and Macy’s. This will enable companies to further boost their data warehousing processes. Empathy will also get a boost. Digital assistants such as Amazon’s Alexa, seem to be pretty adept at picking up these clues. Brands will now make use of the existing ecosystems, to map an entire customer journey from one end to the other. The talent recruitment now needs to be geared to find people with advanced tech skills. Translators too are now needed. Agile capabilities need to be ramped up. All this must not impinge upon individual customer privacy. Brands need to get started on the future now, so that the transition is smoother.

Source:https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-future-of-personalization-and-how-to-get-ready-for-it

Uploaded Date:20 May 2020

The insurance sector is one field that is undergoing a lot of experimentation right now. Its not merely getting digitized. In addition, insurance has seen the rise of platforms and ecosystems. As per a study by the management consulting giant McKinsey,

Source:https://www.mckinsey.com/industries/financial-services/our-insights/insurance-beyond-digital-the-rise-of-ecosystems-and-platforms

Uploaded Date:31 March 2020

Companies everywhere are trying to extract maximum advantages out of the data, AI and business analytics now, but there is one aspect that is holding them back. This is the lack of a true culture that can leverage the data warehousing done, and to ensure that this is done in the right manner. Those companies that have strong data cultures, are generally seen to be performing better amidst this changed scenario. This culture largely depends on how the top management views the situation. Thus, the CEO’s role becomes all the more critical. Training and educational programmes need to be initiated by companies that will work on this cultural change. The CEOs need to lead by example. Rewards and promotions need to be inherently linked to this culture shift. Technology need not be relegated to something that only the specific team works on. Rather, its usage needs to be the responsibility of everyone.

Source:https://hbr.org/2020/03/how-ceos-can-lead-a-data-driven-culture?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM73689

Uploaded Date:31 March 2020