Digital Mindset

 Using Your Digital Mindset to Create Value for Your Customers

Digital transformation requires new ways of thinking about creating value using the new digital tools in our toolboxes. How can you use your digital mindset to create value for your customers?

The way we create value has changed

• The industrial economy was about shifting atoms -- making physical products and moving them around. The focus was on efficiency, effectiveness, and optimization.

• The information economy is about making bits -- creating, finding, and sharing information and data. We're now in a world where information can be even more valuable than physical products.

• The digital economy is about connecting atoms and bits. To connect atoms and bits, you must truly understand customer needs to determine which connections will be valuable.

Platform Thinking

Platforms are the street markets of yesteryear: you provide the place and tools for others to conduct their business.

• Not everyone can be a platform. If every company becomes a platform, there's nothing to put on the platform!

• Your customer may need an innovative item that fills a gap on an existing platform.

Agile

Agile acknowledges complexity and one’s inability to clearly and comprehensively communicate all requirements when embarking on a journey.

• We don't know everything when we start; we learn through iteration

• Agile is more than just Scrum and other specific methodologies

• Agile requires flexibility, innovation, collaboration, and a tight focus on creating value for the customer throughout the organization

“Doing things at high speed, that’s the best defense against the future.”

Jeff Bezos

Big Data

Virtually everything we do is, or can be, tracked.

• Capturing and analyzing that data can give us a deeper understanding of our customer needs and our success in addressing those needs.

• Don't track everything! Insight often comes from very small fragments of data.