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Become future ready in the digital economy: Leading the charge in digital

Amit Midha, President, Asia Pacific and Japan at Dell and Chairman, Global Emerging Markets | June 7, 2016
Innovation is everywhere, but it takes the right leadership framework to digitally transform a business and get buy-in from team members and customers.

This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.

The emergence of digital platforms has created a launch pad for innovation across all layers of societies and enterprises. Technologies like social media platforms, mobile devices, cloud computing and big data analytics have facilitated the rise of innovative business models that have completely changed how companies do business. As a result, this has disrupted the existing market and value network. A study by the John M. Olin School of Business at Washington University projects that 40 percent of today's S&P 500 companies will no longer exist in less than 10 years. In order to survive, companies must embrace digital transformation, leveraging on new technologies to come up with more innovative products and services that attract new customers and retain existing ones.

With competition intensifying and new, more agile players entering the market, organisations that are already addressing digital transformation today are much more successful than those which are not. According to a Dell-commissioned Future-Ready Index report by analyst firm IDC, future-ready IT - technology solutions built for performance and scalability - can lead to increases in revenues of up to 108 percent, and a 56 percent improvement in customer satisfaction and retention. Using cloud solutions can boost business results by up to 30 percent, while converged solutions, which feature pre-integrated storage, networking and compute power in the same box, can lower IT costs by up to 29 percent. The report also highlights the benefits of big data strategies, such as faster reaction times to external events and better predictions of outcomes.

On the macro, city-level, strong infrastructure is a key driver of a future-ready economy. Beyond providing transportation, Dell Future-Ready Economies Model research reveals that cities, for example, that offer mobile networks and Internet accessibility are poised to achieve high levels of growth in the coming years.

The Dell Future-Ready Economies Model measures how well an economy enables its people and organisations to access new tools and new ideas that deliver better connections, and better outcomes. It is meant to provide insights and help guide the private sector and municipalities to identify policies and technology strategies that foster growth in infrastructure, human capital and commerce. Fourteen cities in Asia Pacific are among 50 'future-ready' economies worldwide in Dell's recent Global 50 ranking, highlighting the premier role that this region plays in creating conducive environments for business success. Taking advantage of the infrastructures already available, a number of technology and non-technology players are establishing partnerships to form ecosystems that are aimed at propelling advances in IoT. One such collaboration is the Internet of Things (IoT) Solutions Partner Program, which sees the partnership between leading companies like Dell, GE, Microsoft, OSISoft, SAP and Software AG help customer organisations, from government agencies to businesses, navigate the fragmented IoT landscape and maximise their investments towards smart technologies.

 

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