data

Digital transformation is about turning data into business advantage

Digital transformation is about turning data into business advantage. To do that, organizations need to make sure they provide the right information to the right people. A recent IDG survey indicates that organizations can address challenges they face in delivering information by incorporating digital communications tools into their broader digital transformation strategy. Learn more about the survey results in the video below!

Digital Technologies and Priorities in 2019

Digital transformation was a hot topic in 2018 and it is sure to continue impacting organizations in 2019. In fact, according to a Forrester Research survey, 46% of executives believe that in less than five years, digital will have an impact on more than half their sales. The World Economic Forum estimated that digital transformation has the potential to create as much as $100 trillion in combined value for both industry and society by 2025. There are several trends within digital transformation worth further investigation: Digital Transformation Continues as a Top Priority for Business Leaders A recent Randstad study found that 95% of the 3,000 surveyed organizations felt a new type of leadership is required to adequately address changes in organizational structures and operating models due to digitalization. Rapid technological advances are causing companies to view this as an overall business priority, not just a technology or IT goal. To address this issue, an estimated 60% of CIOs are growing their budgets for analytics, machine learning, and data science according to Forbes. AI Will Power More Tools from Search to Digital Communications Consumers have embraced artificial intelligence through the use of virtual assistants like Apple’s Siri, Amazon’s Alexa, and other devices. But with the rapid advancements of IoT devices and AI chips, artificial intelligence will be used for a lot more than finding a song or predicting the weather. Chatbots such as Mya will help HR pre-qualify candidates for jobs and even automatically reject a candidate if you decide to pass on his or her application. In addition, these chatbots will allow companies to use virtual agents to solve customer service issues without having to pass off calls to a human. Potential Blockchain Applications will Continue to Grow Most of us think of blockchain as a way to create digital currency such as Bitcoin, but this only scratches the surface of its capabilities. Blockchain-inspired solutions can also be used to achieve operational efficiency by automating business processes or digitizing records. The applications that will be produced with blockchain technology in the near future have the potential to enhance the secure sharing of information among known entities, as well as improving opportunities for tracking and tracing physical and digital assets. The Connected Cloud Will Produce a Mix of Different Cloud-Based Technologies Connected clouds are evolving to meet the varying needs of companies, whether they want cloud-source storage, networking, security, or app deployment. Public cloud providers like Amazon and Alibaba, for example, are now offering private cloud options as well. Providers are showing an increased commitment to connecting clouds so applications run seamlessly, secure, and streamlined. Finding the right mix of workloads running in public, private, and hybrid environments will be a big topic in 2019. Smart Spaces from Hospitals to Offices to Transportation and Manufacturing Centers A smart space is a physical or digital environment in which multiple elements––including people, processes, services, and things––interact to create a more immersive, interactive and automated experience for a target set of people and industry scenarios. This can be seen in the advent of smart cities, digital workplaces, smart homes, and connected factories. The creation of smart spaces is poised to accelerate rapidly and become an integral part of the daily life of employees, customers, consumers, community members, and citizens. Digital Ethics and Privacy: The Value of Information Individuals, organizations, and governments are growing concerned about the use of their personal information by organizations in both the public and the private sector. Organizations must proactively address these concerns or face the inevitable backlash. This requires taking more action than just ensuring an organization is compliant with privacy laws. Digital ethics will be a hot topic as organizations learn to ways to handle privacy and information in 2019. Increased Use of Data and Analytics Across All Parts of Organizations Augmented analytics use machine learning to transform how data is developed, consumed, and shared. Automated insights from augmented analytics will be embedded in enterprise applications, such as those used by HR, finance, sales, marketing, customer service, and procurement, to optimize the decisions and actions of all employees and automate the process of data preparation, insight generation, and insight visualization. In many situations, this will eliminate the need for professional data scientists.

What Are You Doing with the Information You Already Have?

Information used to be difficult to come by. It was hard to collect and tough to analyze. Today, that’s no longer the case. We are drowning in information—so much so that the vast majority of the data businesses collect goes completely unused. Seems like quite a waste, right? Yes, for some. According to Forbes, many businesses experience frustration, barriers to easy data analysis, security concerns and a lack of data transparency. They don’t have the money or technology that the big giants do. Mega companies like Google are creating a completely data-driven future guided by machine learning. The first story might sound more familiar—but that’s about to change. To learn more about how Omnivex can help you make the most of the data you already have, watch below.

Real Time in the Real World

How event-driven software makes content relevant and actionable

Despite a global recession and tight credit markets, digital signage continues to grow, albeit to a more cautious tune. Purchasers have learned a great deal over the years about the medium and are much more demanding about real benefits from their deployments. Simply scheduling a playlist of content does not provide value to the network sponsor or operator. Systems today must have the ability to respond to local conditions providing relevant content to a specific audience.

Why Unused Data is a Virtual Goldmine

Every single customer interaction, sales transaction, operations report, and similar electronic record represents a wealth of potentially valuable information that can be used to shape business strategy, enhance customer experience and improve product design. Yet, a vast portion of this data sits unused. The critical last mile between this information and its application represents a massive area of business opportunity. According to McKinsey and Company, typical business servers and enterprise data centers only deliver between five to fifteen percent of their maximum computing output on average over the course of a year.[1] Gartner also reports that nearly 97% of data sits unused in organizations. The time and effort to acquire, secure, and store this information is significant, but the underlying cost of failing to utilize this information is massive. The Uptime Institute found that nearly 30% of servers worldwide sit unused.[2] The cost of these 10 million comatose servers is somewhere in the neighborhood of nearly $30 billion dollars in idle capital. At the same time 90% of Dark Data, or unstructured data, is never analyzed. This means that valuable insights about products, internal development processes, and even website analytics that are collected during the course of normal business sit unused. The untapped value stored in customer information, log files, account information, and even legacy documents is astronomical. The chances that your organization is sitting on a pile of valuable and untapped data is extremely high. Dark data represents a chance for companies to leverage unique and important insights that can drive their business and allow them to compete with, or remain, market leaders. For example, mobile geo-location data can be used to coordinate logistics and user behavior in completely novel ways. The growth of organizations like Amazon are great case studies into just how much new data is being created in today’s technological society and businesses can leverage that data. People are leaving millions of footprints in metadata that can be mined for profitable strategies and the most successful organizations will be the ones who figure out how to do this the fastest. Omnivex allows businesses to easily collect, process, and deliver targeted real-time information across your organization on any screen – connecting people and data.             [1] https://www.forbes.com/sites/benkepes/2015/06/03/30-of-servers-are-sitting-comatose-according-to-research/#16090cc059c7   [2] https://uptimeinstitute.com/component/content/article/9-training-events/348-server-roundup-winners?Itemid=101  

A Prescription for Digital Communications in Healthcare

Mobile phone apps allow consumers to do a multitude of activities from tracking their shipments to counting their steps to banking. With the abundance of information that can be made accessible in real-time, it is no surprise that patients are becoming increasingly frustrated with the lack of digital communications in healthcare. If there was an industry where information is vital, it’s healthcare. Unfortunately, the transition to digital communications in healthcare has been slow compared to many less impactful industries. As a result, patients expectations with regards to the communications from healthcare providers and while at healthcare facilities are not being met. The healthcare industry, like all other industries, is in the midst of a digital revolution, as patients favor and demand technologically-current options. It’s time for healthcare to step up and transform into a more digitally-enabled domain. Real-Time Information Enhances Patient Satisfaction Today, instant gratification can be directly linked to satisfaction. Individuals can access data about the current temperature or their bank account balance with just a few taps. Meanwhile, when it comes to information as basic as wait times, or as essential as test results, the health care industry is archaic in response. Implementing a digital communications system indicating wait time for patients or portals that allow patients to receive, review, and share medical information digitally; while they are being implemented in some healthcare facilities, they aren’t widely adopted currently. These types of basic changes not only improve patient experience and satisfaction they also have an impact on the overall efficiency of the healthcare operation by enabling employees to move their focus from relaying information to more value add services. Integrated Digital Communications Streamlines Processes In other industries, accessible data transforms instant gratification into streamlining. For example, smart phone apps allow consumers to simply speak the name of a restaurant and receive instant feedback with location and directions, hours of operation, and contact information. For consumers, that means the process of getting their lunch or dinner is streamlined. The healthcare industry can leverage smartphones and wearable devices for consumers’ well-being. Integrating data from wearable devices into medical records could allow healthcare providers to monitor and personalize patients’ activities related to health and fitness, for instance. With data that’s integrated and even monitored from afar, medicine could also grow in efficiency and effectiveness. Leveraging Digital Communication Makes Healthcare More Convenient Telemedicine is another exciting avenue in the digitization of healthcare communications. It was listed as a top priority by two-thirds of healthcare professionals in a 2016 Reach Health study. Cisco, in a report on The Digitization of the Healthcare Industry, explains that telemedicine improves patient experience through convenience and accessibility while enhancing provider experience by reducing demands on time, data entry, and more. Digital communications are disrupting the healthcare industry as patients expectations continue to increase and evolve. Healthcare providers need to continually be evaluating and integrating new technologies in order to meet the evolving expectations of patients and employees. Digital communications provide an excellent way to improve the overall experience for patients and providers.  

Finding Your Digital IQ

  Only 12% of Fortune 500 business from 1955 still existed in 2016. It’s not a coincidence that the 12% are still alive. Their creative destruction, constant innovation and technology-focused mindset is why those companies still thrive today. By studying a company’s Digital IQ, we can understand how digital transformations propel both organizations and whole industries forward. A survey from PriceWaterhouseCoopers, which polled 2,216 executives at companies with annual revenue of more than $500 million, found that leaders are embracing digital transformation – mobile strategies, internet of things, consumer technology, social platforms and more. They recognize what is at the forefront of every executive’s mind - how a digital strategy can influence key business objectives. Digital transformation involves three areas: technological ability, digital communications and customer experience. We have a short list of questions that organizations can use to measure their progression in the digital transformation journey: How is digital transformation defined at your organization? Who is leading your digital transformation? Is digital transformation being looked at across the entire enterprise or just in individual departments How can digital transformation help the business, both financially and with overall employee and customer experience? How can you leverage existing assets and technologies in new ways? How can data and information have a greater benefit and/or competitive advantage? One of the best ways to raise a company’s Digital IQ is by understanding and improving upon the human experience. Executives must think critically about how their digital initiatives will affect the experience of customers and employees, as even the most well-intentioned initiatives can have negative impacts on people. By prioritizing the user experience, digital initiatives can increase revenue growth and profit margins. In 2007, roughly 40% of Chief Information Officers (CIO) had a seat at the executive table. Now, CIOs are heavily involved in strategic planning as digital strategies are influencing business goals. Digital no longer simply means the internet. It now touches every business function, from human resources to sales and marketing. IT investments are connected to an organization’s goals. The organizations that make IT part of their overall strategy will be ready to handle the challenges that come with the ever-changing business model. No company wants to be one of the nine out of every ten Fortune 500 companies around in 1955 that are no longer around today. Now is the time to bring everyone around the table to honestly evaluate your business. Start thinking outside of the box about the future of your business, and its digital transformation.

Empower More Informed Decisions with Omnivex

Energize Your Business and Empower More Informed Decisions with Omnivex Information leads people to make better decisions, yet traditional IT systems can create silos and bottleneck information. Omnivex solves business communications issues by delivering targeted, real time information. Your message, your goals, and your information has the power to transform your organization. Omnivex brings the sharing to business for better decisions, for greater accountability, for more education, and continuous inspiration. Digital communications are transforming the world and connecting the right people with the right information when they need it. It can take the shape of breaking news, emergency notifications, and real-time data and metrics. Redefine your organization’s communication with Omnivex. The Omnivex platform manages all aspects of digital communications networks. It enables organizations to easily collect, process, and deliver targeted information across any screen, allowing them to enhance their two most valuable assets: people and data. To learn more, please enjoy the video.   .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }  

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