“Data is the new oil” has become a common (albeit controversial) mantra for the Information Revolution. GAAP accounting doesn’t allow companies to account for it on their balance sheets, per se, but it’s safe to say that between two companies with similar financials, the one with the highest quantity & quality of data is truly “worth more” than one with limited, low quality data. Assuming, that is, that the former company has the right technology strategy to benefit from their data.
Beyond being an “asset” with intrinsic value, we also like to think of Data as a potential weapon in the fight for market share, revenue and efficiency.
For this reason, Weaponizing Data is one of our core service offerings. We realize that even this phrase may be confusing to business leaders who are not in the habit of thinking of their data in this way, but we strongly believe that a purposeful approach to Data will be a key to success in the emerging Digital Age.
We believe the right approach to Data has several components, from inventorying the current state of a company’s data to envisioning a future state which enables one or more “weapons” to be built, and then executing a plan to bridge that gap in a purposeful, economic way with true business ROI.
If you’re interested in exploring whether Data Weaponization might be the key competitive advantage your company needs to grow and succeed, please contact us to discuss how we can help facilitate this kind of strategic analysis.
COVID-19 has escalated and turbo-charged digital transformation across the globe. Prior to COVID, many organizations planned to build out more options for their employees to be more productive by working remotely. They planned to create a way for customers to interact with them and buy from them online, and allow for their management teams to have dashboard views of their internal productivity and customer interactions. Most planned for these enhancements to be phased in over the next few years. Now digital transformation is a necessity for successful business in a post-COVID economy. Yet companies without those capabilities already integrated in will struggle to build them. With the onset of social distancing measures and state mandates for keeping business fronts closed, remote work has never been more essential. It's not just for the sake of productivity, but for safety--and ultimately, worker engagement. Success is now incumbent on a company's ability to [...]
Successful leadership in the new COVID reality will require a new approach to overcome the unforeseen challenges presented by the pandemic. So many plans for 2020 have been paused or fully abandoned in the wake of more pressing concerns. Organizations must learn to adapt, to continue finding innovative ways to carry on, to begin looking ahead. Here are a few potential traps and ways to overcome them as leaders begin rising to the challenge: COVID changed the landscape of many aspects of our lives. The world will no longer operate like it did prior to the arrival of this virus. Leaders should challenge their assumptions, existing plans, and business models to consider what must, or should, be different now. The future still remains uncertain, but it is certain that many aspects of life will not return to what they were before. Creative contingency plans will help ensure that whatever [...]
Innovation Vista is offering small businesses free consulting about remote work options or other IT issues to help them keep their business moving as we all combat coronavirus COVID19 together. For many small businesses, the government's request to initiate social distancing has created a tension point between taking steps to protect their employees' (really the entire public's) health vs. changing the entire operating model of their company. Some businesses may need advice on setting up free/cheap tools for video conferencing, screen-sharing and other collaboration. For others, this mode of operation opens up enormous security concerns and may raise the risk of data breaches and other liabilities. We're offering a free consultation to any small business who feels stuck in this quandary or is unable to operate/support their IT systems in a remote working mode. Please contact us if you're interested in a strategic conversation about your options. We CAN work [...]