Given the breakneck pace of technology change, business leaders can be forgiven for feeling as if they are living in a vortex. That’s because, in many ways, they are.
In a real vortex, rotational forces draw everything to the center, where objects collide and combine in unpredictable ways. To me, that sounds like business as usual in the Internet of Everything (IoE) era.
The Digital Vortex is the inevitable movement of industries toward a “digital center” in which business models, offerings, and value chains are digitized to the maximum extent possible. The result is “components” that can be readily combined to create new disruptions that blur the lines between industries.
Digital Disruption by Industry. Source: Global Center for Digital Business Transformation, 2015
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Tags: Cisco, digital business, digital disruption, Digital transformation, digital vortex, IMD, Internet of Everything, IoE, Joseph Bradley
“Drill, baby, drill” makes for an easy mantra when it comes to energy exploration, but the oil and gas (O&G) industry moved past simply drilling long ago with the introduction of digital information processing. For example, integrated production modeling was introduced in the 1970s. With the recent turmoil in the energy industry, the stakes are even higher for O&G companies to work smarter and more efficiently. Forward-looking businesses are making the transition to true digital transformation, which requires the adoption of the Internet of Everything (IoE)—the networked connection of people, process, data, and things—throughout the entire O&G value chain. According to a recent Cisco study, of these four IoE elements, essential “data” is the component most in demand—and the element that needs the most improvement.
Survey respondents identified “data” as the area of IoE they need to improve most to drive insight and value.
However, in many cases it’s not data that’s lacking; O&G firms are awash in data generated by sensors and machines spread throughout their far-flung operations. The struggle comes in capturing real-time operating data closest to the point it’s created, analyzing it in real-time and applying the results to improve functional and business capabilities. To capitalize on the wide range of data IoE generates, O&G firms must overcome three key challenges:
- Automating the collection of data
- Integrating data from multiple—and often far-flung—sources
- Analyzing data to effectively identify actionable insights
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Tags: analytics, Cisco, collaboration, Data Science, digital, Disruption, IIoT, Internet of Everything, IoE, IoT, oil and gas, oil prices, operational technology, OT, thought leadership, transformation
In the past couple of years, I have been delighted to see how the digital revolution has accelerated the pace of innovation at warp speed. It has been even more gratifying, however, to experience how this trend has disrupted traditional relationships between technology suppliers and their customers.
Today, the most successful suppliers and customers have become more like trusted partners co-innovating solutions together. Fading fast are the days when the relationship between seller and buyer consisted of a handshake and a few check-in calls before re-engaging again when contract renewals came up. Read More »
Tags: Alex Goryachev, chuck robbins, data analytics, Internet of Everything, IoE, IoE Innovation Center, john chambers, Peter Diamandis
The only thing that remains constant is change.
It’s an old adage. While it has always been true, it’s especially relevant now. Today’s pace of technology change is akin to a vortex, relentlessly and chaotically sweeping everything into its spiral path, demanding digitization. As with a real vortex, the force of this change is too strong to ignore and those objects (or business models) that fail to adapt will break apart and fall away.
Indeed, digital disruption has the potential to overturn incumbents and reshape markets faster than perhaps any force in history. Organizations that do not drive their own digital business transformation will be left behind. Those that do will be pulled toward a “digital center” in which business models, offerings, and value chains are digitized driving new revenue streams and substantive business outcomes.
The driver behind this pace of disruption is the Internet of Everything (IoE), the networked connection of people, process, data, and things. Cisco projects these connections to surge from 15 billion today to some 50 billion by the end of the decade. IoE is sowing disruption, certainly — but it is a force for disruption and creation. With a total Value at Stake of $19 trillion from 2013 to 2022, IoE represents a profound market transition — and opportunity.
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Tags: Cisco, digital business, digital disruption, Digital transformation, digital vortex, IMD, innovation, Internet of Everything, IoE, leadership, research, thought leadership
We’ve all seen how connected products can transform industries in areas like home energy management and personal health, and manufacturing is no exception. When products communicate back to their original makers, the manufacturers can detect production flaws well before customers would need to raise warranty claims. Further, product usage data can become the core of value delivered to the customer. Now that we have Fitbit and Jawbone UP, would you ever consider buying a traditional pedometer whose only method of telling you steps is on an LCD display? These ideas can be applied to machines on the factory floor too.
In a previous blog post on the Connected Factory, I shared how Cisco’s validated designs combine best practices from operational technology (OT) and IT into robust and secure networks. I also addressed how wireless connectivity can enable a more effective workforce and how digital transformation with real-time production analytics improves quality. Read More »
Tags: Cisco, Cisco Connected Factory, Digital transformation, Internet of Everything, internet of things, IoE, IoT, Manufacturing, Tony Shakib