In case of forced blockage or productivity slowdown, the most effective solution is to invest in potential.
But let’s try to explain more. To look for answers we start as always with data, in this case drawing on a February 2020 survey by IDC.
- In 2020, the projected decline in ICT spending on services and hardware will be 4 percent.
- The year 2021 should see the negative trend reset.
- Positive outlook in 2022 and strong investment recovery in 2023.
- In 2020, 21 percent of companies are expected to keep their already planned digital investments stable.
- Also in 2020, 70 percent of companies will recalibrate projects to improve efficiency.
In summary. While there is evidence of the need to keep relationships with suppliers and third parties unchanged, there is also a strong need to reshape projects, not only economically but, more importantly, structurally.
Initial comment. Companies that have invested in digital transformation over the past two to three years have been better able than others to cope with a market overwhelmed by the crisis. In the next two years all companies will see their investments in the ICT area increase, returning to substantial competitive balance. Those who want to take advantage must therefore do so now.
Potential of answers: smart business solutions
If money needs to be spent, especially in a time of major economic and social change, better to invest it where the return allows for innovative, distributed, tailor-made digital tools. The Business Intelligence makes production processes more efficient by enabling cross-vertical analysis of data. It is able to “combine” information from even very different sources, highlighting new opportunities. The vision enabled by BI allows for improved flow management and decreased impact of emergencies.
Fast data: real-time analytics
As a rule, the more time passes, the more the Given as such, loses value. Investing in real-time sensing systems and monitoring/analysis platforms enables “fresh” values, ready for processing, at all times. It is essential to have an immediate and predictive picture of what is happening in production and related services. However, the number of platforms and devices from which information comes is constantly increasing. If there are ERP systems, CRM, sensor systems, IoT, edge devices, 5G, just to name the most common sources in the enterprise, the amount of information to be analyzed per second is completely unmanageable without proper tools. There is a need to choose established platforms that are easily upgradable, scalable, and above all, secure. Again it is the Potentiality, this time of the Given, that provides solutions and new ways forward.
Potential of skills: investing in training
Those who must interpret the continuous flow of information must be put in the best possible position to do so. Keeping the level of professionalism of one’s employees high is therefore mandatory. Enabling staff, who are responsible for different areas of the company, to use innovative technologies such as Business Intelligence enables continuous sharing of data and knowledge. With self-service tools that integrate BI and machine learning, analysis work that would have taken days can be achieved in a matter of minutes. Investing in professional figures and training therefore means gaining acceleration in restart and opportunities to keep the speed of innovation high. Equally, the development of in-house expertise enables the company to select the best partners to collaborate with, thereby increasing the company’s operational scope. The Potentiality is, in this case, in the human factor.
In conclusion. A different approach, a new or renewed planning is needed. Today’s investments must increase the possibility of finding nonunique solutions, responding to needs that may reshape themselves in the short or very short term. Potentiality, not surprisingly, rhymes with Responsiveness.