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Do You Think Digital Disruption Is Daunting? Here Are Four Things To Fight It
Digital disruption is
what many businesses across the globe fear. Do you remember Orkut or for that
matter Encyclopedia Britannica? These and many others have seen themselves
crumbling to a page entry in history books from millions of dollars of
investments. The reason is that they never look forward to digital disruption.
The term was coined by Clayton M. Christensen, Professor at Harvard Business
School. It refers to the situation where a new technology will replace the one
that is currently in use.
For chief information
officer, it is imperative that they make sure that their own company doesn’t
fail. They can do many things to ensure that they don’t lose out to digital
disruption. Here are the top four things any CIO can do to fight digital
disruption.
1) Disrupt Your Company Yourself
Digital disruption
kills your company because you failed to transform your company. So as a CIO,
you should think about disruption yourself. Innovation is something that can be
hard to bring on but if you want your company to survive, we recommend that you
create a division within your organization that looks into creating ways that
help you innovate the way you bring your products and services to your
consumers. This division will attempt to circumvent the short term problems and
challenges that your company face and offer long term planning to ensure you
are transforming digitally.
2) Consider Yourself A Tech Company
One thing many
companies ignore is that they have essentially become a tech company. Whether you are
offering a service or a product, you are using technology in so many ways. So
if you start considering yourself a tech company, you will find that you can do
so much more. Whether it’s how you interact with your customers to how you
manage your inventories, technology is now part of it. A CIO would be wise to
consider his company a tech one and focus on how it can develop it further.
3) Use Customer Data As Knowledge
Believe it or not,
more than 80% of companies ignore the data they accumulate about their
customers. Not using the data you accumulate is a terrible sin. There is no
denying that. When you learn what your customers are thinking, what they prefer
you will be able to create better solutions for them.
4) Constant Learning
It is important that
your company should learn from its own actions and from others as well.
Whenever a competitor fails to foresee something and suffers losses, a CIO
should immediately take notes and see whether their own company is capable of
not doing it. It would require thorough analysis of what role did technology
played in the failure and how can you ensure that the technology solutions can be
adopted by your own company.
Digital disruption
can be tackled simply with digital transformation. A CIO should consider
digital transformation as the foremost responsibility and ensure that their
company is ready to fully adopt any new technology that is made available in
the industry.
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