Darwin at work all around us

Sanjay Purohit

To succeed in the new normal, enterprises must harness personalization, and immediacy. They must reinvent the social capital of the firm, open up to customer influence, and optimally leverage advanced technologies to deliver value to customers as individuals. The engaged employee will drive the client’s experience. The time to act is now.

To mention an oft-quoted joke, today a modern textile mill employs only a man and a dog. It’s all about just how much a modern mill has been automated: The average mill has only two employees today, a man and a dog. The man is there to feed the dog, and the dog is there to keep the man away from the machines. Read between the lines and there is a profound meaning.

Our world is witnessing a tectonic shift. Step on to the world of technology disruptions. Wherever you are, whatever you do, and whether you like it or not, our world is radically changing with the emergence of new technologies like social, mobile, cloud, and Big Data & Analytics. Yes, we are part of a hyper connected, data-rich world where customer is rediscovered as the new emperor.

You can see Darwin at work, all over the life around us. This signals that only responsive enterprises who can embrace change, more than ever, can survive the new era. A tough task at hand - with over 2.7 billion people interconnected via mobile devices, 6.8 billion mobile-cellular subscriptions—almost as many as there are people on the planet and one trillion devices connected to the Internet of Things.

Embedded deep within this enormous information lies the pearls of Big Data insights which can help enterprises shape the future. But to take advantage of all this information and maximize the value of the enterprise, leaders must navigate the digital terrain strategically.

The good news is forward looking enterprises across the world are leveraging new age technologies to delight their customer and win the race. Consider, Orange, which uses integrated digital experience platform for creating immersive experience for its Viewers, customizing and monetizing services and generating new revenue streams. Another case in point is Open reach Service, a BT company, which embraced transformational technologies to offer superior customer service. The intuitive innovation helps the company quickly realize significant improvements in customer service and agent productivity.

Likewise, GlaxoSmithKline delivers superior experience to its customer by optimizing digital channels across its global business lines. Advanced analytics helps the company tap rich audience insight to deliver an engaging brand experience. Similarly, global brands like Procter & Gamble are tapping insights-driven technologies to gain complete visibility across the demand chain – from distributors to consumers –to accurately sense and fulfill consumer demand while boosting efficiency and growth.

While the list of success stories is long, there is a common thread. This signals the age of the empowered customers. There is a race to win them and how best we serve them delight will be the game changer. The new transition would require an adaptation towards an intelligent enterprise, driven by pervasive computing and predictive analytics that help in real time decision making, adding more value to business and society.

As the informed and assertive digital consumers seek compelling experiences, there is an immediate need to tap the digital ecosystem which enables self-service as well as co-creation. Significantly, personalized solutions usher in on-demand solutions, accelerate innovation and access new demographic segments. These solutions maximize customer value across the lifecycle.

This is where access to 'local' knowledge has assumed vital importance as emerging economies transform the global marketplace. An ecosystem that harnesses collaboration helps realize 'reverse innovation' across industries. Products and services must be re-engineered, not re-created, to address the specific needs of micro-segments.

For instance, technologies like Big Data, Social, and Mobile can help minimizes healthcare costs by eliminating wastage, avoiding redundant processes and helping to incorporate best practices in treatment. In fact, intelligent medical devices and evidence-based medicine ensure patient self-care. In addition, peer-to-peer collaboration through social media develops a preventive healthcare lifestyle.

The ubiquity of the Internet and mobile devices should be harnessed to meet micro-requirements of customers. This is important as next-generation mobility solutions co-create value by redefining stakeholder engagement. They also address differences within and across markets, and drive sustainable growth.

Enterprises must analyze real-time data from multiple embedded devices to design products and services that better address customer requirements. Computing and storage infrastructure plays a significant role in cost-efficiency, quality of service and agility. Artificial intelligence, cloud-based solutions and sensor networks are a business imperative today.

Certainly, smart decision-making demands simple processes. While operational excellence and accelerated innovation help companies deliver higher value to customers, it requires enterprises balancing the challenges of a globally connected marketplace with the demands of localization. Tomorrow's companies should facilitate collaboration among different stakeholders to adapt to change.

Indeed, a smart enterprise can grow sustainably through equitable social contracts, effective resource utilization and green innovation. Predictive analytical insights can immensely help companies take on the challenges of sustainable growth.

To succeed in the age of empowered customers, enterprises must harness personalization, and immediacy. They must reinvent the social capital of the firm, open up to customer influence, and optimally leverage advanced technologies to deliver value to customers as individuals. The engaged employee will drive the client’s experience, and business growth.

So, textile mill or otherwise, staying relevant and keeping obsolescence in abeyance, needs continual re-skilling, and enterprise wide training for all to deliver superior customer experience. This is important as the lines between industries get increasingly blurred by disruptive technologies. There will be more changes in the anvil — new jobs, new products, new services. And, there will be no escape from this. Enterprises just need to smartly embrace change to win the race. IT’s all about the survival of the fittest.

The author is CEO and Director, EdgeVerve Systems – an Infosys Company