Professional services are going digital. With more data collected and more ways to (affordably) analyse them, businesses can finally consider digital service suites credible alternatives to human contractors, especially when it comes to highly repetitive, data-reliant tasks. A major enabler of these suites has been analytics software that handle unstructured data, offering clients valuable unconventional insights into the firm’s operations. Its applications are almost endless: providers are building accounting solutions, strategy consulting solutions, cost intelligence, fraud control and many more on top of the data analytics backbone.
For the full story, please visit our sister blog: http://www.cibsys.com/automated-professional-services-your-very-own-digital-agent/
Today, leading Big Data companies such as Walmart can for instance access every receipt issued since 1999. This allows Walmart detailed insights into customer behaviour and leads to adapted positioning for goods in one example: The company now positions beer next to baby nappies since fathers shopping for nappies are more likely to drink at home than go to the pub.
One famous example of how insightful data can be, was the case of a 16 year old girl shopping at Walmart. She was sent coupons for baby related articles, e.g. nappies and baby nutrition, since her shopping behaviour indicated that she was pregnant. The father angrily called the store and was complaining that his daughter was sent these vouchers since she is just 16 and it would be highly unlikely that she was pregnant. Two weeks later, the father rang the store again and apologized since his daughter told him that she was actually pregnant. Continue reading →
First of all, there will always be a paradigm. There might be a state where conflicting paradigms are competing for supremacy but a time without paradigms is not possible.
Having recognised how your own expectations and therefore paradigms influence your beliefs about the world, you can use this ability to advance.
Assuming you have discovered the state of severe discomfort where your old paradigm does not fit anymore, what kind of leader or in general human resources are necessary to complete the paradigm shift? For instance, why do the big strategy consultancies employ often people with backgrounds that often seem counter-intuitive to the business that are in?
In strategic decision making, we have certain expectations about the world and how it behaves. In order to find your blue ocean, you are on the lookout for distinguishing elements.
The aim is to make competition irrelevant by carving out for yourself a hopefully close to inimitable competitive advantage. These processes are often similar to paradigm shifts in sciences. These shift describe the advancement from one paradigm, e.g the sun circulates the earth, to another, e.g. the earth circulates the sun. Continue reading →
No matter how clean and accessible your business documentation is, it is dead weight if it’s out of date. And this is the sad reality in many organisations today. Your business is growing, optimising, and doing things differently every day. Document maintenance becomes a nightmare. Continue reading →
As you might have noticed, the first episode of Game of Throne’s new season was released by HBO. You have probably been as excited as million of other fans and have eagerly awaited the start.
HBO was probably excited as well but ruined the fun for some of its users. HBO GO, the streaming platform, crashed during the release and none of its users where able to watch their long anticipated show. Continue reading →
“We had some great documentation but it is now out of date from all the changes we made in the past years”
How many times do we put the effort into constructing something only for the projects we run to invalidate it. This is especially the case with operational documentation. Organisations get it in place for a whole host of reasons but so many just ignore updating it when they run a project which becomes a false economy as the update job will happen at some time. Once they are established in a job, the organisation forgets that useful asset and ignores it when they make changes to the way they work.
Those of you familiar with this blog know that a recurring theme in our posts is planning ahead and being proactive. We like to think that strategy is a living process in organisations and not a one off and random act. Well sadly in many, and especially in big organisations, planning ahead strategically can be sadly lacking. Continue reading →
So you are embarking on an operational documentation review. The reasons can vary: an upcoming audit, a standardization mandate from above, or more efficient knowledge transfer. No matter what the case, the task doesn’t exactly scream “sexy” but it needs to be done and it needs to bring solid results. Continue reading →
It might not seem straightforward, but the benefits of having an up to date and accurate business process documentation are much more imperative than you may think. The need for a proper operational package can be driven by different organizational triggers and objectives. Some common scenarios include:
Regulatory compliance: Highly regulated industries (e.g. financial services) more than others require strict compliance in terms of documenting your business processes. This task then becomes mandatory and cannot be ignored – it’s not a “nice to have” process.