Digital transformation advice for traditional businesses from Randy Bean
, Randy Bean guides traditional businesses on their “long-term journey” of digital transformation and what is required to achieve “data-driven leadership.”Bean is highly qualified to report on the past, present, and future of data in enterprises and how it has been used to advance business goals. Twenty years ago, he co-founded a management consulting firm,, focusing on how big companies could use data “to be smarter and better at what they did.
So becoming data-driven means overcoming the obstacles people create in how they manage their organizations. But how come “born digital” companies are data-driven but “legacy” companies are not?As Bean writes, “companies like Amazon, Google, eBay, Facebook, Uber, and Airbnb are rooted in data and analytics and have leveraged new data-driven business models to disrupt and transform traditional industries such as retailing, media, and travel.
Starting from scratch to create a new business legend, provided you are creative enough , is easier than adding a new chapter to an old business story. And your timing matters a lot. Walmart took over Sears as the U.S. largest retailer in 1990 after twenty years of creative use of new computer and satellite technologies. Amazon rose to challenge Walmart by creatively using the new Web to reach customers virtually.
“Their digital business had the highest of potential but went sideways.
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