Accelerated Pace of Change Creates the Perfect Storm for Dominating Digital Disruption
The 2014 trends are out. The big predictions have been made. Yet what does it all mean as most organizations anticipate another unpredictable year? Since 2000, 52 percent of the companies in the Fortune 500 have either gone bankrupt, been acquired or ceased to exist (Figure 1). The pace of change has increased, competition has intensified and business models have been disrupted. The only certainty is that change will accelerate.
Figure 1. Digital Disruption Has Demolished 52% of the Fortune 500 Since 2000
In fact, the digitalization of business is a key factor in this accelerated pace of change. Information flows faster. Most parties enjoy greater transparency, yet the digital divide makes transparency patchy. Every node reacts more quickly. The speed of execution as a differentiator has resulted in agility in delivering disrupting business models. Market leaders shift from selling products and services to promising outcomes and experiences.
Market leaders and fast followers want to know what trends will affect customer demand. How will these trends affect hiring decisions? Are there new and emerging technologies that will power disruptive business models? What factors will help organizations dominate digital disruption? How does one stay safe in a world of digital exhaust? What networks matter? Who are my competitors, collaborators and co-innovators? How does one make sense of the disparate and often contradictory trends pointed out by experts, pundits and analysts?
Constellation Applies A Futurist Framework To Guide 2014 Outlook and Beyond
Constellation’s research team uses a tried and true futurist framework that looks at the political, economic, societal, technological, environmental and legislative (PESTEL) shifts ahead (see Figure 2). The PESTEL model is used to synthesize the major trends and provides guidance on how Constellation approaches its seven key business themes over the next 2 to 3 years in:
- Consumerization of Technology and the New C-Suite
- Data to Decisions
- Digital Marketing Transformation
- Future of Work
- Matrix Commerce
- Next-Generation Customer Experience
- Technology Optimization and Innovation
The strategic assumptions from Constellation’s 2014 PESTEL framework form the basis for the business theme-led research. Over the next 36 months, research from each business theme will factor these trends into the overall research agenda. The goal in 2014 is to help clients not only navigate, but also dominate digital disruption.