INSEAD Conversations: Leading A Data-Driven Transformation Webinar
Had a great conversation about data-driven transformation with INSEAD today. Here’s some of what I shared:
1. Transformation is total:
It’s not possible to transform part of an organisation and leave the rest alone. Transformation is about changing the culture and mindset of an organisation. Digital is only one part. For Majid Al Futtaim, our transformation began in 2015, when we started to consider how we could still be relevant and competitive in the next 25 years.
2. Transformation is personal:
People adopt a technical approach to transformation, and that’s a common mistake. Technology is at the service of humanity, and not the other way around. When you take the technical approach, you lose the forest for the trees. Transformation and data advance is the means to end, not the end in itself. The end is serving people better.
3. Data enables better relationships:
The technology is finally here that allows us to do and understand things we could never do before. We can change our customer approach from a blanket one to a targeted, individual approach. Data and analytics allows us to know our customers individually. How much better would you feel – and how much better would business improve – if a brand acknowledges your specificity and caters to your individuality. Tech and data allows us to do that.
4. We are returning to the era of personal:
Retail today is going back to the future. Fifty to 60 years ago, businesses knew their clients by name, knew their preferences, their birthdays – there was a very strong personal relationship. We want that, we want to be recognised, known and acknowledged. The right analytics at the right time allows us to do that. We can use data and tech tools to disrupt our relationships with our customers to make them much better.
5. Customers are our source of disruption:
The real disruptor is the customer. Not Amazon, Airbnb, Uber or any of those. It is the customer, because they liberated – we can do, buy, expect whatever we see at our fingertips. Global organisations like Amazon shape the expectations of our customers even when they are not serving them.
Procurement Specialist at Consolidated Contractors International Company
4 年Interested
Marketing Director | Creative Director | Digital Marketing Strategy I Brand Builder | Startups | FMCG | Retail | Hospitality | B2C
4 年Thank you for sharing this. I couldn't agree more.
Senior Manager - IT Demand and Delivery Management at Etisalat for Software Projects
4 年Hi Sir, the most important point you made was to have people as it’s purpose. Unfortunately this is not visualized by many organizations while implementing #digitaltransformation
Investor. Coach. CX. Strategy Advisor. Lifelong Learner. I coach IT company owners and CEOs lead their teams better, increase their company value, maintain and sustain positive cash flow, and find time for themselves.
4 年Thanks for sharing. I fully agree. Many improvements fail to achieve their goals because of the narrow attention to one business area or one problem area without looking at the big picture and the cause effect relationships.
Corporate Executive with background in C&P, Business Development, and Business Improvement
4 年Faris Al-Kharusi Hilal AL-Riyami