Weg

Hammer your way forward

3 May 2018

Internet of Things
IoT
digital transformation

The best business ideas are often just a smart combination of existing things. Are you also looking for a helping hand with your digital transformation? Break out of silo thinking and review everything you have through fresh eyes.

Improve and innovate

Progress can mean a number of different things. Some people call it progress when existing things are improved. Others use the term only when new things are developed, or if something is done in a fundamentally different way. But both approaches are needed for us to keep moving steadily forward. Continuously improving your own area of expertise is important if you want to make existing things better. Quite apart from this, you are well advised to create new things too. If not, you will never be able to outstrip the limitations of what already exists. The development of new things is best kept separate from the rest, unconnected to your general approach. In addition – and this is something to always keep in mind – new projects deserve their own sandbox.

Choose the right nails

Technology is changing and opening up new opportunities. You can only take advantage of these opportunities if you have already defined your own strategy. A digital transformation strategy is made up of four elements.

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Source: MISQUE

 

  • Digital services platform
  • New solutions
  • Customer loyalty – often something you can really use as a differentiator
  • Operational backbone – needs to keep working

 

The combination of these four elements defines your digital strategy. The reply to the question "Where do I want to go as a company" defines the best way to hit these four nails. The hammer you use to hit each nail is the Internet of Things. IoT can help you expand each of these elements. The trick here is to think of applications for each element that suit your own products/services and customers. It is important to think a step further than your direct customer, because many applications will go beyond them. Everyone needs to see for themselves whether there are valuable IoT scenarios for them. Waze, for example, is hitting the customer loyalty nail hard. Their product is not a new solution – after all, GPS has been around for years – but the way they approach this service is nevertheless fundamentally different.

Thinking outside the box can provide a new incentive model that allows you to recombine things until they create new business value.

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