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Definition
• A digital strategy, is a plan for maximizing the business benefits of data assets and technology-focused initiatives. A successful digital strategy requires a cross-functional team with executive leadership, marketing and information technology (IT) members.
Actors in Digital Transformation?
Customers
Competitors Innovation
Data
Value
5 Domains of Digital Transformation
Customer
Competitor
Data
Innovation
Value
Passive Active
Across Fluid Industry
Data is everywhere and extract information
Decision based on validation of product
Within Industry
Expensive to Generate and use the same
Decision was based on intuition/experience
From To
T0
Traditional Ways of Product Development
Team is identified and complete roadmap is made.
Marketing Team is given a task to prepare a task of creating buzzzz in possible customer or try to create a demand
Sales team starts working on possible customer list through Market survey and product scale cycle.
Demo are conducted to possible customer and Feedback on feature are started pouring to make product usable at
their end customer and Sales cycle starts
time
Products is conceived by PLM with list of feature.
Additional investment for implementing required features
6
CHANGING PRODUCT DEVELOPMENT STRATEGIES
Moved from slow and steady development life cycle into agile and fast development
life cycle
1Moved from closed and proprietary to
open and collaborative
3Moved from standards to
community open source projects
4Moved from “All at Once”
development life cycle into “Incremental” and fast development life cycle
2
How to build a minimum viable product
Digital Transformation PlayBook
Customers as a Source of Competence
Managing the personalized Experience
• Harness Customer Network (Co-opting Customer Competence)
Learning along with the customer
Customer as new Source of Competence
Customers as a Source of Competence
Sharing information
Early testing reports
Soft
war
e
Sem
ico
nd
uct
or
Med
ical
Med
ical
How to Engage Customer
Encouraging Active Dialogue1
Managing Customer Diversity3
Co-Creating Personalized Experience4
Mobilizing Customer Communities2
Encouraging Active Dialoguea.1
Customer Dialogue of Equals
Analyze early wants of the customer with Beta introduction
Recommendation based on the behavior
Mobilizing Customer Communities
a.2
Discuss on various use case of the product
Source of latest information of the product across customer/geographies
Companies need to ensure tight usage policy as this can make/break decision by prospective customer
http://www.accessforums.net/
Linkedin Product groups
Facebook Community groups
Etc……….
Managing Customer Diversity
a.3
GenderSkillsCulture
Consumers’ experience of a technology product/service will vary according to the skills of the user
A user’s sophistication determine the tolerance of the problem
Consumer concerns about the privacy and security can also accentuate the diversity among users.
Co-Creating Personalized Experience
a.4
Customers are not looking for experience by companies. Increasing, customer wants to shape those experience themselves.
Personalization is different from customization. Personalization is customer part of being creator of the product.
Autocarmaker (Continental) providing customized dashboards / Museum providing personalized multimedia tour.
Managing Personalized experience To be completed
Competitor Landscape
Potential Entrants :-Threat of new Entrant
Bargaining power of Supplier
Threat of substitute
Bargaining power of Buyers
Traditional Approach
Buyer/Supplier increasing the horizon and integrating Vertically
in the Value chain
New/existing Industry redefining and replacing the significance of
the products/ Service
Products are transformed to platform which are support
competitor products
Digital Market Approach
Industry Competitor
1
2
3
b
Customer as Competitors
b.1
Customers can extract value in ways that were unimaginable even 2-3 years ago.
With internet highway, commodity products information are available to both customers/ managers. So managers need to be price takers as well as price maker
With changing time, customer are getting into domain of the seller.
Redefine Existing Industry
Relevance of the product/Industry of some of the traditional industries could be obsolete. Business Travel are reducing because of adoption of Video conferencing for meetings.
Music industry is facing challenges as people stopped buying CD etc. As all the songs are avaible free within days of release of the album.
b.2
Products to Platform
b.3
Data as an Asset
c
Data
information
Visualization
Decision
Source of Data. Company focus on putting Technology to collect data.
Read Data to convert meaningful information for organization to analyze
Visualization of the report which help streamline information
Decision making for next move for customer.4
3
2
1
Data Source
Various Sources Depending upon Business requirement
• Social media data such as Facebook, Twitter, YouTube, blogs, etc.
• Machine generated data such as sensors, smart grid, RFID and network logs.
• Location-based information data such as GPS and mobile logins.
• Contact center data such as audio conversations, text chats and customer emails.
• Staff data such as internal emails, calendars and instant messaging.
• Open data released by governments.
• Syndicated data such as market report and weather data.
Database- Oracle- Hadoop (Data structure)
c.1
Data to Information
• Export the data from your system and load it into Excel. Use Excel's pivot table tool to analyze data and convert it into information. You can use other software or enterprise systems that are designed for data analysis as well.
Simple Exercise
c.2
Visualization
c.3
Decision
c.4
Innovation
1. Discover
• Industry research
• Web traffic analysis
• Competitive analysis
•Customer needs analysis
2. Ideate
•Future-state prototypes
3. Validate
• Customer and stakeholder validation testing
4. Execute
• Innovation Roadmap
Road to innovation
d
Discover the NeXt Big Platform
Customer interviews and focus groups
Surveys and questionnaires
Social media monitoring:
Web analytics data:
Customer service logs:
Customer feedback forms:
Third-party research:
Competitive Benchmarking:
d.1
Ideate
Future-state prototypes
Prototyping
• Prototyping involves creating mockups to demonstrate how the experience works and to allow users and stakeholders to evaluate them.
• Paper prototypes can range from a simple pen and paper creation, through to those created in graphic design packages or prototyping software.
d.2
Validate
Test your ideas with real customers
Design Walkthrough
• Validate early in the design process
• Walkthrough involves taking a group of experts/founder/ probable customer participants using real-life user scenarios or tasks
• Results are documented and recommendations for improvement are made
d.3
PRIORITIZE, PLAN, AND EXECUTE
d.4
Value
Customer Behavior
Who is using the services and content
What features and services are being used
Where are these services and content
being used
When are these services and content being used
with Whom and in Which combination are
these (services and content) being used
How much is the customer spending
5W 1H
Who
What
Where
When
Whom
How
