Saturday, 14 September 2013

When will technology make sense for business?



Technology will make good business sense when:

Do you think technology really helps businesses to grow? Two years back many of the business leaders whom I interacted with mostly said technology can centralize and share information, provide reports without overly depending on any individual, but lately the trends are changing drastically. 

Today most of the business leaders are considering technology much beyond productivity gains. In todays connected world, technology can be a companies key market differentiator. Technology can create core competency. Technology can help facilitate customer delight and hence business grow. 

My blog post is my views on how can technology can be used to co-create value to customer and help business grow. 

In our organization we have built world-class cloud systems to create Customer delight. We have connected whole chain of operations and we have involved customer in our operations as a key stakeholders providing them access to our system. By this we have not only improved active agile way of collaboration, but also increased team work and confidence of our customers in our offerings.

Technology makes good business sense when - 

1. Technology is deployed to improve Customer experience and Customer service

Technology which facilitates Customer delight naturally becomes core competency of the company. So build an application which helps team members to facilitates higher value to customers.

2. Technology should help in understanding customer and employee expectations

Technology should be more a listening tool. Technology should capture emotional value, listen and clear noise and facilitates management to take actions which motivates customer and employees.

3. Technology which will help team members be more productive without over kill on data entry

Technology should standardize processes to enable team to perform better. While there should be enough room to facilitate new ideas so that the processes and system continuously improved.

4. Build an integrated technology solution to improve predictability in business

Connect customer, employees, product/services, business partners and community to create an healthy ecosystem to generate value to all stakeholders

5. Don't just collect data make use of it to improve business performance

Systems can provide good logical value by analyzing data and creating business indicators and warning signs. Trend analysis and future predictability reduces the risk and helps balanced business operations.


2 comments:

  1. Good thoughts AP. Sometimes there is a big data problem that exists when analytic tools can provide simplified reports. Say for example, I use a web analytic tool and do my research and provide one report which summarizes the entire situation. As per me that is all that is needed to make a decision. But the executives would want a few more supporting reports along with it. And also any report that is available with me. But ideally he would use just one report among that lot to make a decision. Now there is this mindset among the executives to collect maximum ammunition at their disposal before making a decision, which in turn reduces productivity and increases repetition of tasks. So i call this a big data problem too. on an inverse angle. So it is not only important for an analytic tool to convert data into meaningful and easily interpretable reports, But also to have a role/personality based reporting mechanism which basically understands its audience's depth in decision making and provides customized reports for his use.

    Your thoughts please.

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  2. Good thoughts. In to the current environment Technology and Business are very tightly coupled. Today technology works as a tool to grow the business. Our skills can tell us how to grow, but to grow we have to picked up hammer of technology.

    As we know any business of the world revolved around a single word, called 'data' .Because it generates the information, that information helps us to take decisions. A quality data generates a quality information, and quality information helps to take golden decision to grow the business. I should say data is the soul of business.

    My learning says we cannot ignore either number or quality of the data, both are equivalent important. More quality of data gives more clear picture of business mission & vision. More number of data gives more far vision of the business.

    A good business consultant has the skill to identify which data is important to generate what information. He/She dig the organization historical data to came with better than the best solution. But question is how to dig ? That's the point technology comes in to picture and gives support to business. Feeling what a relationship .... Just see how business skill and technology together serving business opportunities on the plate of Business Owner.
    Thanks to start a good discussion on this relationship…..

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