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June 17, 2016

How To Close That Elusive Digital Loop

Posted by Nitesh Bansal (View Profile | View All Posts) at 10:01 AM

How To Close That Elusive Digital Loop

How do we know or measure when an enterprise has truly gone digital? This is a question that every organization should be asking itself if it wants to succeed in the next five years. You read it correct: next five years. Not within the next century or even the next decade. Becoming a truly digital enterprise is no longer an option, if you want your enterprise to open up to new markets and thrive in the current ones.

I'm sure I could challenge one of my talented colleagues to write an algorithm by which enterprises could gauge their level of digitization. The algorithm would measure the total data in the organization - compare offline and online data, data derived from sensors, including ones on the shop-floor and products and from customer touch-points through a number of live connection nodes, web and social media presence, etc. These stats may look great during company presentations and can boost an organization's ego (due to the sheer amount of data they have been able to collect). Yet, if they are not leveraged to derive unique and actionable insights, they don't mean much.

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