This morning I read an interesting article in Forbes, entitled “3 ways in which the COVID-19 crisis has opened the mind about technology”, which you can read here.
The article summarizes the findings of an Atlantic Counsel survey of technology experts about the future of work, information, artificial intelligence, supply chains, healthcare, and medicine Some conclusions from the survey: The stigma around working from home has dissolved Supply chains are not as flexible as we though Artificial Intelligence is a blessing (well used And it is that the pandemic has forced millions of companies on the planet to rethink their work model (work as an actor and not as a place), business (for example restaurants that have turned to homes), and business collaboration (Hi Zoom! – but with precautionary measures). Watch Full videos at kissanime
Those who had adopted Digital Transformation models have managed to respond more expeditiously to the changes generated by the pandemic and, surely, they will fare better (and even strengthened) than their competitors who still had operational models of the 20th century.
In these weeks I have spoken with clients, friends and family about the current situation and about the areas in which they see that they should focus to get out of the crisis:
1 – Digital Channels
If the Technological Democratization had been transforming the client, the isolation and social distancing measures will end up accelerating its technological adoption (I wrote about this a few weeks ago) and in few aspects it will be more visible than in the use of digital channels to interact with the companies and brands.
The Customer’s Journey and their interactions with their company have radically turned towards their website, their Instagram and Facebook pages, their customer service channels via Messenger, WhatsApp and Twitter, and their electronic points of sale, either direct or indirect ( think Domiciles or Rappi And eye. Don’t stay in Digital Marketing. It is important, but there is much more than just marketing.
2 – Information-Based Decisions
Eye! Data and information are not the same. Although 85% + of companies say they collect data from their interactions with customers, less than 10% do something with them and have information on how to proceed.
I must confess that I am amazed at the number of companies that have been working blind for 3 weeks, without knowing how they closed the day before, what was sold and where they should focus their logistics, manufacturing, and purchasing efforts Companies that do not have demand predictability models, where there is no information (again, data and information are not the same) from their customers to create personalized campaigns and, in many cases, there is not even online information on sales and of inventories And beware, I’m not just talking about small and medium-sized companies. If I share the names I’ve heard in the last few days, it goes backward. f you’ve been “stumbling” for 3 weeks, it’s time to invest in (real) Business Intelligence initiatives, demand predictability, 360 ° customer profiling, and understanding the business from the information It does not matter what sector you are in. Manufacturing, Retail, Construction or Government *. If your business is not in the information you can produce from the data you collect daily, your business does not have more than 10 years to live.
- Speaking of Government, have you seen how Bogotá is taking an approach based on data and information to manage the pandemic? Applause for the ICT Department, for the Data Team and for the rest of the local Administration team because this is how transparency, clarity and coherence are generated in the provisions that have to be taken.
If you haven’t seen it, I invite you to go to https://bogota.gov.co/coronavirus-en-bogota/ and take a look at all the indicators that are being analyzed in real time.
3 – Process Analysis and Mining
It is at times like this that companies find that “Achilles Heel”; the poorly designed process, the one hundred steps that someone created “for safety” or the tinterillo (internal or external) that slows down the company, that makes it slow, that prevents it from responding quickly to changes and needs posed by an untimely situation and which eventually causes the flow to lag.
For those companies, Business Process Mining exercises can be extremely profitable. Exercises that allow them to accelerate their processes and find the gaps that bleed the operation.