Sooner or later we all feel like throwing up our hands and cursing the complexity of modern life. But while technology may seem the chief culprit in making things unmanageable, it is also the ultimate solution to complexity.
In the Internet of Everything (IoE) era, it is particularly important for business leaders to understand the power of technology to simplify our lives and support informed decision making. And this was a core theme at Sapphire Now 2014, an event in Orlando, Fla., that I was privileged to attend last week.
By using network technology to integrate people, process, data, and things, IoE counters complexity in unprecedented ways. In a city, this can involve something as simple as cutting the time it takes to find a (connected) parking space. Or IoE technologies can scale up to reroute traffic lights; for example, to head-off highway backups before, during, and after a large event.
In a brick-and-mortar retail setting (a key area of discussion at Sapphire Now), IoE can alleviate the complexity of managing customers, staffing, and products. With data from multiple sources comes heightened, real-time awareness, empowering managers to react faster than ever. For example, they can then stock shelves and reorganize staff in response to constantly changing levels of demand. With predictive analytics they can even respond before a customer rush begins.
The idea of hyper-aware, real-time decision-making resonated during a Sapphire Now panel discussion titled Thrive in the Digital Networks of the New Economy. I was honored to share the panel with such luminaries as Erik Brynjolfsson of MIT; Michael Chui of McKinsey Global Institute; and Jai Shekhawat, Deepak Krishnamurthy, and Vivek Bapat of SAP. And there was much discussion on the impact of bad decisions on failed organizations. Which is why we all take such an interest in technology that enables good ones.
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Tags: asset utilization, Big Data, Cisco, Cisco Consulting Services, connected supply chain, customer experience, decision making, employee productivity, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, Manufacturing, retail, Smart Cities, supply chain, value at stake
In a typical week, I spend about 70 percent of my waking hours on work-related matters. Another 50 percent is devoted to my family. Which leaves 20 percent for taking care of the household, and ….
Yes, that adds up to more that 100 percent. But there simply aren’t enough hours in a day for all that needs to be done — not to mention protecting that crucial time with loved ones.
So, thank you, multitasking! I can’t be the only one who has held a child while writing emails, taken conference calls from the supermarket, or had several online meetings running simultaneously.
All of this occurred to me as I struggled to find time for this blog. Writing forces me to shut off everything around me and reflect on the things that really matter — in a world that is rapidly changing, increasingly complex, and in which technology can sometimes seem a mixed blessing. When I do finally carve out an opportunity to write, it is precious time, which I cherish.
But writing is hard. Trust me, I’ve thought about creating a blog for years, and my past is riddled with failed attempts to start. Each time, I hesitated for too long, wondering whether people would really want to hear what I have to say. Like many writers, I have wondered if my compositions were too long, too short, too personal, too corporate, too banal, too deep ….
But as much as I appreciate your attention, dear reader, this time around I realize that I am writing the blog for me, the writer. Like many of us, I navigate a harried, high-pressure life. And this blog is my time, my space, to do something creative and expressive.
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Tags: Big Data, Cisco Consulting Services, connected retail, Internet of Everything, Smart Cities
Are your Master Builders free to create? Are your Ordinary Builders helping them to execute? And more to the point, are you acting like the evil President Business, hindering innovation, placing talent in silos, and keeping your organization frozen in the past?
If so, you may find an unlikely role model in Emmet Brickowski.
OK, Emmet may be an animated character made of plastic blocks, but don’t dismiss him so easily. If you are a manager looking to ensure your team is the best it can be, you may want to check out Emmet’s starring role in “The LEGO Movie.” I believe there is deep wisdom in what this little character has to say.
One of the key themes of the film is that many organizations adhere too strongly to their legacy traditions. Though such traditions may have served them well in the past, they can also sow stagnation and put a brake on agility and adaptability. This is especially true in the Internet of Everything (IoE) era, as a massive wave of network connectivity and innovation upends organizations, business models, and entire industries. In the process, longstanding assumptions around strategy and success are falling by the wayside.
Emmet lives in a world run by President Business, the head of a successful corporation that fears any change to the status quo. President Business will even resort to supergluing LEGO pieces to keep them in their rightful places. President Business divides the world into two kinds of people: Ordinary Builders and Master Builders. He rewards Ordinary Builders who follow the rules, building from their LEGO Kits; he disapproves of the “anarchic” creativity of the Master Builders, who like to improvise from a pile of blocks, and he is determined to capture all of them.
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Tags: Big Data, Cisco, Cisco Consulting Services, collaboration, Internet of Everything, IoE, management, talent
Digital innovations have upended many assumptions about the art of buying and selling. But the brick-and-mortar retail store is far from extinct. And while digital technologies continue to disrupt traditional business models, they also present retailers with exciting opportunities to make their stores more immersive, interactive, and, well, digital.
Recently, I had the privilege of discussing the future of the retail store with Doug Stephens, one of the world’s foremost retail industry experts and author of the book, The Retail Revival: Reimagining Business for the New Age of Consumerism. Listen to the full interview here.
As Doug describes it, “media is becoming the store and the store in essence is becoming media.” In short, he argues that the store itself has to embrace many of the capabilities and services that have made online retailers so successful, while retaining and enhancing some of the advantages of the physical retail experience. The store should become a “high-octane experience,” as Doug puts it.
I wholeheartedly agree. In the Internet of Everything (IoE) era, an explosion of new connections is driving new sources of value. And the physical retail store can capture these new sources of value — just as their online counterparts have.
The key lies in blending the two experiences in a seamless manner.
As in-store consumers, we expect to interact with a product viscerally in a physical retail setting; online we enjoy access to rich product content. Combining the two will go far to engage and convert consumers while cementing brand loyalty.
Here are a few of the ways in which retailers are creating new digital in-store experiences:
- Data analytics present a precise picture of an individual shopper, their online research and shopping history, and their real-time, in-store browsing, as tracked through their smart device and/or in-store video.
- Wi-Fi and mobile technologies enable new connections during each step of the shopping journey, offering real-time prompts, expert advice, and incentives to “seal the deal.”
- RFID tags and other sensors — combined with data analytics — provide precise tracking of products and inventory and enable such in-store experiences as “magic mirrors” and digital signage. These utilize detailed information on individual shopper behavior and buying history to transform the real-time experience.
Doug and I agree that, moving forward, it will be essential for retailers to gain the trust of consumers. If they are to be tracked in-store and engaged in real time, customers will need to feel confident that retailers are fully transparent throughout the shopping journey.
Surveys show that consumers have their doubts about sharing data. But when trust is established and clear benefits and value are established, they are willing to op-in. In effect, the nature of the exchange has to be clear, and education is crucial. Then, the full power of merging digital technology with the brick-and-mortar world will be evident.
The end result, I believe, is a win-win for retailers and customers alike.
But the key for retailers is to lead not follow. Waiting to see what other retailers are doing is not an option. Through data and analytics, they can get to know their customers better than ever. And by knowing their wants and desires, create a digital in-store experience that is more exciting than ever before.
For more on innovation in retailing check out our new BizWise video to learn how one mall owner has transformed relationships with shoppers using an omni-channel approach.
Tags: Cisco, Cisco Consulting Services, Internet of Everything, IoE, retail, sensors, tracking devices
In a constantly changing world, getting the right talent focused on the most pressing challenges is essential — not just for companies, but for service providers, cities, and countries.
Today, the key driver of that rapid change is technology, particularly the explosion in connectivity known as the Internet of Everything (IoE). Cisco predicts that IoE will have connected 50 billion “things” by 2020, compared to 10 billion today. But for all the talk of things, IoE is not just about embedding sensors in shoes, jet engines, refrigerators, and shopping carts. The true opportunity arises when people, process, data, and things are connected in startling new ways.
In such an environment, collaboration is critical. Indeed, IoE-related innovations have the potential to improve and transform our world in profound ways. But no one company can solve these challenges. They will require partnerships and the open sharing of ideas and talent.
Technology companies, in particular, will need to change the ways in which they utilize their talent. For many decades, there was one way to access talent — by hiring it. Today, workforces are flexible and may be spread across time zones and continents. Knowledge workers still contribute as employees on company payrolls, of course. But increasingly, they are just as likely to collaborate on a specific project as partners or as subject-matter experts sharing knowledge within cross-functional or cross-industry groups.
That is why I feel so strongly about a recent out-of-court settlement in Silicon Valley regarding the free flow of talent from one organization to another. Apple, Google, Intel, and Adobe agreed to pay more than $300 million to 64,000 engineers who claimed that the companies’ hiring policies were hindering their career paths and access to higher salaries.
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Tags: Big Data, Cisco, Cisco Consulting Services, employee productivity, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, job creation, talent, value at stake