DXAgents presented a panel on Clarity Without Complexity: Data-Driven Digital Transformation at BigData Toronto this week.
Namir Anani, President and CEO, Information and Communications Technology Council, moderated an interactive dialog on data-driven digital transformation and its impact on value creation in today’s digital world. Irene Zaguskin, CIO, Enercare, Alexey Rykhva, CIO, Procter & Gamble Canada, Boris Bogatirev, Manager Consulting, Analytics & Information Management, Deloitte, Sarah McMullin, Director of Emerging Technologies, SAP, and Humza Teherany, CEO, Compass Digital Labs and President, CIO Association of Canada, shared their key drivers, structures, strategies, and best practice for successful transformation across the enterprise.
As new technologies continue to disrupt traditional business models, the need to adapt to the digital economy grows increasingly more critical. Companies that adapt sooner will have the advantage, while others will just play catch up.
Humza stated that in order to facilitate digital transformation, everything needs to be simplified. Start by making the user experience easier, and use data as the foundation to drive business value. Sarah agreed that you grow our competitive advantage by remaining focused on your customer.
Alexey expanded by sharing P&G’s 3-pronged user focus:
- How do we impact them at their first moment of truth – when someone first hears of our product/service?
- How do we impact them at their second moment of truth – when they want to learn more?
- How do we impact them when they actually use our product/service?
You must ask how you can fuel innovation so the outcome to the customer is cheaper, faster, and more effective.
Enercare began their digital transformation by asking where their customers wanted to interact with them. Gone are the days that people want to pick up the phone, and sit on hold, waiting for assistance. Customers are making the decisions. Providing those customers with the best experience is at the heart of digital transformation.
Start-up vs Legacy
There is a marked difference in how start-ups approach digital and old established businesses with legacy systems in place.
Start-ups are agile, work quickly, have low budget, present a proof of concept, and are off and running.
Established businesses with legacy systems don’t have this. Panelists agreed it best to create smaller transformation projects, instead of a massive overhaul. If your business has legacy systems and wants to transform digitally, Alexey recommends looking at ways to exploit those legacy systems first. How can you use the data and processes better?
Human Resources Costs
The cost of technology may be high, but there could also be costs to training existing staff, or hiring new. There are talented graduates coming out of schools now, but event with 4 years in school, those software programs they learned about may be outdated.
You want to grow talent within your organizations, educate our staff. Hire curious people who are willing to learn, and “play in the sandbox.”
Data-Driven Digital Transformation
“Data is the currency of right now. Data must be the foundation of digital transformation,” said Boris.
Data will tell you what your customers buy, when they buy it, what needs are met, what needs aren’t. There are a surprising amount of companies not using their data. Alexey suggested creating a 5 to 7 year roadmap, to do things better.
The question then becomes, how do we measure whether we’ve achieved digital transformation?
Boris and Humza weighed in. If you start too big your stamina may run out. The key is to start small, with a simple business problem. Give it 30 days, and then find and measure the metrics.
Just try something.