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Summary: Five Keys to Success Leading Digital Business Transformation

mriegelHere’s a summary of Mike Riegel’s latest blog on the IoE Blog site that reaches out to all those in the energy industry, both oil & gas and power utilities:

“As we explored in my previous blog, today’s rampant pace of innovation can be likened to a Digital Vortex, where ideas, technologies, and even entire industries are swept to the center of the Vortex — recombining and merging into disruptive new business models.”

In Mike’s blog he talks about how digital business transformation is critical for all industries. However, Cisco’s Digital Vortex research revealed, 45 percent of companies don’t consider digital disruption a board-level concern. That’s worrying. Mike goes on to talk about the level of complacency, and how organizations had better watch out – there’s a disrupter increasingly in your industry!

The blog elucidates of five key areas which, if adopted, can enable success for those wanting to thrive in the new digital business environment:

  • Lead from the top down
  • Create the Workforce of the future
  • Merge Business Processes and Technology
  • Ideate and innovate FAST (FAST IT)
  • Cultivate the Partner Ecosystem

So, the blog concludes, it is the incumbents that can thrive as the agile disrupters if they play their cards right in this business digitization arena. Singular point-digitization is not enough. Comprehensive digitization is the way forward, involving people, process, data, and things. Find out more about the Digital Vortex  by clicking on the link (the subject of Mike’s next blog).

Refinery factory at the Port of Los Angeles, California, USA

Refinery factory at the Port of Los Angeles, California, USA

 

What do you think – are you ready to be a disruptor in the Energy Industry, or be disrupted?

My take: The good news is that the utilities companies are at lower risk than others, and oil and gas companies even less, according to the report. Those organizations have embraced digitization and recognize the disruption will most likely come from within, probably owing to the large barrier to entry for outsiders (unlike Amazon taking on retail for example).

Still, don’t be complacent – your competitors are waiting to take further digital business steps, and take market share. You can find out more about cisco digital solutions for oil and gas and power utilities by clicking on the links.

Let me know what you think!

 

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IoT Innovation: Accelerating Rapidly and Exponentially

Co-Innovation. Hyper-Collaboration. Sharing Economy.

Whatever you call it, it’s clear to me that the global community of innovators around the Internet of Things (IoT) keeps accelerating — rapidly and exponentially. I have personally experienced this disruptive growth in just the past three months, especially in how co-innovators are focusing more and more on solutions for the public and private sectors.

I wrote here three months ago that I anticipated greater participation in Cisco’s 2nd annual Innovation Grand Challenge, which we launched on June 22nd. I was expecting solid, steady growth of entries in key industry markets, such as Manufacturing, Smart Cities and Energy/Utilities.

But we were completely overwhelmed by the response!

Alex Internet of ThingsBy the time entries were closed two weeks ago (Sept. 7), we had received more than 3,000 entries in more than 100 countries from startups, incubators, entrepreneurs and independent developers. That’s three times the number of submissions as the first year of the competition and more than all four of our annual Grand Challenges combined. The top 10 countries with the most entries reflect the geographic scope and diversity of IoT innovation: United States, India, Australia, Canada, United Kingdom, Spain, Germany, Mexico, the Russia, and Indonesia.

In the past three months, we Read More »

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Five Keys to Success Leading Digital Business Transformation

As we explored in my previous blog, today’s rampant pace of innovation can be likened to a Digital Vortex, where ideas, technologies, and even entire industries are swept to the center of the Vortex — recombining and merging into disruptive new business models.

In such an environment, digital business transformation is critical — and demands decisive top-down leadership. Nevertheless, as our Digital Vortex research revealed, 45 percent of companies don’t consider digital disruption a board-level concern.

That represents a dangerous level of complacency, especially for market incumbents. We all know the names of seemingly immune incumbents that rested easy as innovative disruptors combined technologies into new business models — challenging and disrupting them from seemingly out of nowhere. Those disruptors were innovative, agile, and, of course, digital (see chart below from our Digital Vortex research).

Source: Global Center for Digital Business Transformation, 2015

Source: Global Center for Digital Business Transformation, 2015

As Chris Skinner, author of Digital Bank, told our team, “If banks aren’t digital Read More »

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#CiscoChat: Industrial Security: Critical for Digital Manufacturing?

Cisco_Chat_Industrial  Security_TWITTER[1]

Manufacturing is undergoing radical advancements, much like the ones we’ve seen in healthcare and education, thanks to the Internet of Everything (IoE) and all of the people, data, processes and things it connects.

By 2020, it’s estimated that there will be 50 billion devices and objects connected to the Internet, including many of the devices in the manufacturing world. “Smart” factories where machines “talk” to one another, fleet vehicles such as trucks and forklifts with sensors that monitor their movements, and even wireless inventory tracking devices are all in play at manufacturers across the globe. Manufacturers are embracing a new generation of Machine-to-Machine (M2M) and Person-To-Machine (P2M) systems, as well as mobile applications and cloud-based services that drive efficiency and innovation across their value chain.

All of these connected “things” and processes allow manufacturers to Read More »

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Drones: Just Buzz or Real Business?

“Why Cisco?” I was asked repeatedly after speaking on a panel about drones. “Why not Cisco?” was my passionate response.

Drone 1The occasion was the recent NASA UTM Convention at Silicon Valley’s historic Moffett Field to explore creative traffic management solutions for Unmanned Aircraft Systems (UAS), popularly known as drones. At Cisco, we see a full spectrum of public, enterprise and consumer opportunities, as well as an amazing ecosystem of partners evolving around “connected” drones. This isn’t just buzz, but a real business opportunity.

After all, drones capture and transmit “ungodly amounts of data,” as Cisco’s Helder Antunes noted during his keynote session and CNBC interview. Cisco’s network backbone, solutions and applications enable the Internet of Everything (IoE) – the connection of people, processes, data and things – and drones represent important, mobile, data-rich nodes on the network. Please also read Helder’s blog on drones and the IoE here.

drone 2When it comes to drones and many other remotely connected and mobile devices, it’s really all about Collaboration, Cloud, Fog Computing – and Analytics, whether at the edge, across the network or in the cloud. To seamlessly transform raw data from sensors and images into actionable insights, an end-to-end platform is needed to optimally capture, store, share and process data most anywhere.

For example, one of the biggest challenges for drone operations today is to efficiently collect and effectively transfer colossal amounts of data over weak or non-existent network links in remote areas. Many times, these processes take days or weeks before the collected data can be processed and meaningful insights can be derived.

Read More »

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