Time is an illusion. And an obsession. And apparently time is endangered because everyone is trying to save time, find more time, use time more wisely, or just plain stop time.
Time is of the essence, after all. And in the wonderful world of business, it always seems that we’re trying to find ways that let us move faster. We want to reduce the time it takes us to do what we do, whether it’s responding to customers, making decisions, adjusting to market trends, or getting the latest-greatest whatever-it-is to market.
You can’t reduce an illusion, but you can find ways to be more effective and make better use of the time you have.
That’s a tough number to hear from the employee side of that equation. Maybe I spend time with the wrong crowd, but I don’t know too many people who consider their performance to be only 80% of their potential. So where does that additional 20% come from? Is it an illusion too? Read More »
“Dad, how many mobile phones were sold last year in the whole world?”
“Is this a trick question? Well, there are about 7 billion human beings on earth. Assuming every…”
“No, no—give me a number.”
“Well, I am not 100 percent sure. How many do you think were sold?”
“How do you know?”
“Dad—it’s on the Internet!”
My 10-year-old daughter left the room, triumphantly. I looked after her—admittedly feeling a little bit jealous. I wanted to be 10 years old again, too. I’d like to grow up with access to any information, available at any time, at the touch of a button. And this is only the beginning. Soon, tailored information will be provided to us proactively, before we even know what to ask for.
It’s easy to forget how incredibly rapid technological development has been. The true uptake of the Internet happened only about 15 years ago. Think about what would happen if your family had to spend an entire week without being connected to the Internet and the constant global interactions to which we have grown accustomed. The next ”big thing” is always around the corner, waiting to disrupt everything we take for granted today.
So what will be the next big thing in technology? This is a topic of endless debate on the Internet, at dinners with friends, and in the trade press, with the discussion often descending deep into the weeds of architectures, capabilities, protocols, and standards. However, for a business executive, the only thing that really matters is the business impact. The only relevant business question is ultimately, “How can I improve my business performance enabled by technology?”
For that last few years, Cisco has been watching the impact of the Internet on transforming the retail industry. As more people, processes and things are connecting to the Internet, retailers can capture more data to better predict when and where consumers will want to buy and capture more revenues.
Today, Cisco released Internet of Everything research that equates to $81 billion globally in 2013. But this represents only 45% of the opportunity that could be gained by the Internet of Everything. Retailers could have realized an additional $99 billion this year if they were more connected across their operations. The good news is that retail IT executives are confident that can capture this value. On average, retail IT executives rated their ability to capture Internet of Everything at 7.2, on a scale of 1 to 10.
Change is afoot on a big scale and fast. We see it around us, we feel it, we talk about it, we experience it. We even know its name — the Internet of Everything (IoE).
Briefly put, IoE is a new way of connecting people, processes, data, and things. Looking back, you can almost say that the Age of the Internet and of the Internet of Things have merely been preliminary stages designed to lead us where we are today: on a course that radically changes how we interact with the world around us. We have started on a new exciting journey. At every step we are uncovering new ways to create and share value, not just for the organizations we work for but in our personal lives as well.
Let’s take the world of business first. It’s changing dramatically as we speak. Here are a few leading transformational trends the effects of which I’m sure you have experienced yourselves in one way or another.
We Are More Interdependent
More and more expert surveys are finding that employees are working more collaboratively now than they were in the not very distant past. For instance, according to research from the Corporate Executive Board (CEB), two thirds of employees are doing more collaborative work today than they were just three years ago. Collaboration technology is a big part of making us increasingly effective in this environment, delivering benefits including those that help us become: Read More »
In the fast-changing, thin-margin world of consumer products, new winners and losers are created every day. Speed of innovation, time-to-market, and employee productivity can mean the difference between the next hot trend and a warehouse full of excess inventory. Success in the highly competitive consumer packaged goods (CPG) and retail industry depends on broad-ranging collaboration, accelerated innovation, and employees who are empowered and productive every step along the way—from product development, to merchandising and sourcing, to store management and customer service.