Posts Tagged ‘future of business’

Monday’s Musings: The Chief Digital Officer In The Age Of Digital Business

Market Leaders and Fast Followers Prepare for Digital Business In 2014

Conversations at Constellation’s Connected Enterprise last week validate a larger trend in the market place.  The audience of 220+ early adopters with 75% representing line of business and 25% in IT highlighted the convergence of the five forces of consumerization described in 2009 and 2010.  This convergence of these five pillars of digital business now form the foundation of all future digital business strategy and drive customer experience, matrix commerce, future of work, data to decisions, consumerization of technology, and digital marketing (see Figure 1.).  In fact, market leaders and fast followers have embraced this strategic direction in their 2014 planning.

Figure 1. Convergence Of The Five Pillars Drive Digital Business Strategy

Emerging Trends In 2014 Digital Business Strategy Reflect The Shift To Digital Business

As Constellation works with leaders to define their 2014 business strategies, digital transformation plays a key role.  Many organizations will:

  1. Recognize that they no longer sell products and services, as buyers seek experiences and outcomes.
  2. Democratize the data to decisions pathway to enable innovation.
  3. Realize that B2B and B2C are dead. It’s a P2P and M2M world.
  4. Focus on context as right time relevancy beats real time information overload.
  5. Shift from engagement to personalization at scale.

(A full update will be posted in Harvard Business Review soon)

The Bottom Line: Organizations Can Expect The Rise Of Chief Digital Officers

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Research Summary And Speaker Notes: The Identity Manifesto – Why Identity Is At The Heart of Digital Business

Forward And Commentary

Constellation Research keynoted at Ping Identity’s Cloud Identity Summit 2013 in July.  Gathered in front of the Identerati,  an Identity Manifesto was presented.  The research behind that manifesto has been summarized here in this summary.  The final big idea research report will offer insight into four of Constellation’s primary research themes, the Next-Generation Customer Experience, The Future of Work,  Matrix Commerce, and the Consumerization of IT and the new C-Suite.

A. Introduction

Identity often means many things to many people for good reasons. Traditional definitions of identity for the identity and access management professional have revolved around standards for authentication, access, authorization, and management.

B. Research Findings – Identity Expands Beyond Enterprise Despite Stuck in Massive Standards Hell

While standards such as SAML, Open ID, OAuth 2.0 address the technical side, the rise of consumer and enterprise social networks has spawned a consumer identity that reflects a digital ubiquity of the individual. Facebook, Google, and Twitter now dominate most social logins. Users expect their identity to be transportable from personal to work environments.

However, a limitation exists between personal and work worlds. In fact, the facets of one’s identity remain isolated and separated by not only our digital and analog presence, but also by our inability to deliver context across our worlds. Why? The lack of context separates our personal life from our work life and creates artificial barriers by role, relationship, and a host of other factors.

The reality – identity plays a multi-faceted role for each individual. The business implications of identity after authentication, authorization, access, and availability touch on commerce, work lives, personal lives, and engagement with each other. Without a more comprehensive view of identity, organization and individuals will continue to undermine the strategic role of identity in the context of business. Identity is a unifying factor in the current transformation to a digital world.

The Identity Manifesto Relates Identity To Work, Life, And Society

Identity plays a central role in the future of business and is a unifying point. The seven points in the identity manifesto set the stage on the future of identity (see Figure 1).

Figure 1. Seven Point in The Future of Identity – The Identity Manifesto


The Bottom Line: Herald The Reputation Economy – Identity All Comes Down To Trust and Transparency

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Monday’s Musings: Understand The Four Organizational Personas Of Disruptive Tech Adoption

Pace of Innovation Exceeds Ability To Consume

Rapid innovation, flexible deployment options, and easy consumption models create favorable conditions for the proliferation of disruptive technology.  In fact, convergence in the five pillars of enterprise disruption (i.e. social, mobile, cloud, big data, and unified communications), has led to new innovations and opportunities to apply disruptive technologies to new business models.  New business models abound at the intersection of cloud and big data, social and mobile, social and unified communications, and cloud and mobile.

Unfortunately, most organizations are awash with discovering, evaluating, and consuming disruptive technologies.  Despite IT budgets going down from 3 to 5% year over year, technology spending is up 18 to 20%.  Why?  Amidst constrained budgets, resources, and time limits, executives are willing to invest in disruptive technology to improve business outcomes.  Consequently, successful adoption is the key challenge in consuming this torrent of innovation.  This rapid pace of change and inability to consume innovation detract organizations from the realization of business value.

Organizations Fall Into Four Personas Of  Disruptive Technology Adoption

A common truism in the industry is “Culture trumps technology”.  As organizations apply methodologies such as Constellation’s DEEPR Framework in improving adoption, leaders must first determine which of the four personas best fits their organization’s appetite for consuming and innovating with disruptive technologies.

The personas of disruptive technology adoption assess organizational culture in two key axes (see Figure 1).  The first is how incremental or transformational an organization looks at applying disruptive technology to business models.  The second assesses how proactive or reactive an organization is in carrying out new initiatives.  Based on these dimensions, the four personas include:

  1. Market leaders. Market leaders prefer to drive transformational innovation.  They look at technologies as enablers in disrupting business models.  They see competitive differentiation in delivering outcomes to customers. Market leaders accept failure as part of the innovation process.  They fail fast and move on.
  2. Fast followers. Fast followers prefer to react to the success of market leaders and their experiments.  When they sense success, they tend to jump in.  Fast followers do not like to fail and rapidly apply lessons learned from market leaders into their road maps.  Fast followers tend to deliver scale in the markets as a counter balance to arriving later in the market.
  3. Cautious adopters. Cautious adopters proactively deliver incremental innovation.  They tend to take a more measured approach and spend more time studying how they can improve an existing success than creating a transformational change.  Cautious adopters often come from regulated industries where security and safety are paramount objectives.
  4. Laggards. Laggards tend to procrastinate on applying innovations to their business models.  They prefer not be bothered by trends and will only react when the trends have moved beyond mainstream.  They see value in waiting as prices will drop over time as success rates increase over time.  Laggards enjoy waiting.

During the interviews and discussions with the 2012 Constellation SuperNova award participants, key questions emerged in the decision process on whether to adopt or pass on a disruptive technologies.  These questions aligned well with the four personas of disruptive technology adoption.

Figure 1.  Organizations Should Understand Which Persona Of Disruptive Tech Adoption Describes Them Best

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Press Release: Constellation Research Adds Futurist Venessa Miemis To The Team

New York, New York, United States – October 12th, 2011
11:31 am (GMT – 5:00) Eastern Time

Constellation Research Inc, a next generation research analyst and advisory firm helping clients achieve business value from emerging and disruptive technologies, announced today that Venessa Miemis joined as a Senior Analyst and Resident Futurist in September.  Venessa will serve as Constellation’s first resident Futurist.  Her coverage will focus on the digital identity space researching core topics such as The Future of Trust, The Future of Money, and Reputation and Ethics on the Social Web.

Miemis brings a wealth of experiences as a social technologies researcher and artist, exploring the edges of communication, co-creation, and commerce in a network society.  Venessa brings structure and understanding to how social technologies and networked culture are transforming business, commerce, and collaboration.  She often synthesizes insights and analysis into video-based communications along with insightful blogs and reports.  One of her well known projects is The Future Of Money project, which provided a visionary point of view for the banking industry and was presented to over 200 global heads of banks at the SIBOS Conference in October 2010.

Venessa blogs at Forbes in addition to her own widely-followed blog, Emergent by Design.  Her cutting edge points of view have been featured in leading media outlets such as CNN, Fast Company and The Huffington Post.  Miemis’ current projects include work on the Future of Facebook, social currency, open collaboration, and p2p finance.  She currently serves as the Chief Community Officer for Contact, an innovation festival about peer-to-peer technology and networked culture.  Venessa is also a board member of the Acceleration Studies Foundation and serves in an advisory role for a number of tech startups and social change initiatives.

Venessa graduated from Miami University with a BA in Psychology.  She has a Master’s in Media Studies from the New School with a concentration in online engagement, collaboration, and trust-building.

“We’re moving towards a business landscape that’s becoming more human – where trust, reputation, and the context of relationships really matter. Technology is leaping forward, and we’re finding more robust ways to understand our desires and motivations, to make decisions, and to create value. I look forward to working with companies to navigate and define this next wave that comes after “social.” – Venessa Miemis

Venessa’s coverage area will include:

  • Digital identity
  • Identity from a consumer perspective touching on public sector, healthcare, and banking/finance/commerce
  • Virtual goods
  • Virtual currencies
  • Vendor relationship management and personal data stores
  • Social media marketing, branding/communications, and community building.

“Legacy analyst firms continue to fail their clients because they have chosen not to invest in talent and push the envelope.  We value Venessa’s cutting edge points of view and track record in tackling new research topics.  Her work on the Future of Money represents the future of research “, noted R “Ray” Wang, Principal Analyst and CEO.

Please join us in welcoming Venessa to the Constellation Research Family and the Business Analytics team!  Venessa joins Adrian Bowles and Barry Wilderman in expanding Constellation’s presence in the New York metro area!

COORDINATES

Twitter: @venessamiemis
Linked In: http://www.linkedin.com/in/venessamiemis
Geographical Location: Beacon, New York, United States
Email
: venessa (at) ConstellationRG (dot) com.

About Constellation Research, Inc.*
Constellation Research is a leading research analyst and advisory firm guiding organizations and their leaders through the hype and buzz of the latest disruptive technologies.  Constellation takes a holistic approach in achieving business value for board members, marketing, technology, operations, human resource, and finance executives.

The firm’s analysts deliver pragmatic, creative, and impactful research focused on business value, profitability, and market differentiation.  Research analysts bring real world experience, independence, and objectivity to our clients.  Most analysts bring over 2 decades of hands-on experience in working with senior leaders in enterprise organizations.

Constellation serves the needs of buyers and end users who seek insight, guidance, and advice in dealing with a dizzying array of disruptive business models and technologies.  The firm provide the bridge between legacy optimization and future innovation.  Constellation also advises sellers from both the buyer‚s point of view and how to deliver value to their customers.

Constellation builds partnerships with its clients.  The client and their organization’s success is Constellation’s only mission.

Insight. Inspiration. Impact.

*Constellation Research, Constellation SuperNova Awards and the Constellation Research logo are trademarks of Constellation Research, Inc. All other products and services listed herein are trademarks of their respective companies.

Press Contacts:

Contact the Media and Influencers relations team at press@ConstellationRG.com for interviews with analysts.

Sales Contacts:

Contact our sales team

Kieran Barr

Email: Kieran (at) ConstellationRG (dot) com
Office:
+1.206.409.5009
Twitter: @
kierobar

David Stanley
Email:David (at) ConstellationRG (dot) com .
Office: +1.719.357.7826
Twitter: @kiwigate

Best Practices: Applying Social Business Challenges To Social Business Maturity Models

Early Adopters Cross Through Five Phases Of Social Business Maturity

Interviews with over 100 early adopters of social business (i.e. social crm, E2.0, social media marketing, etc.) reveal 5 phases of social business maturity (see Figure 1):

  1. Discovery. A few individuals begin the process of discovering new tools.  Individuals identify consumer tech innovations that impact enterprise business processes.
  2. Experimentation. Small teams experiment with new tools.  They fail fast on experiments, learn, and move on.
  3. Evangelization. Small department leaders seek repeatable processes and begin test pilots of technology.  Momentum begins to build for projects.
  4. Formalization. Successful evangelization leads to enterprise wide acceptance.  Processes become repeatable and predictable
  5. Realization. With a successful project at hand, the enterprise seeks to expand the usage to ecosystem stakeholders.  Suppliers, partners, and customers are brought into the fold.

Figure 1. Software Insider’s 5 Phase Social Business Maturity Model


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Research Report: Constellation’s Research Outlook For 2011

Organizations Seek Measurable Results In Disruptive Tech, Next Gen Business, And Legacy Optimization Projects For 2011

Credits: Hugh MacLeod

Enterprise leaders seek pragmatic, creative, and disruptive solutions that achieve both profitability and market differentiation.  Cutting through the hype and buzz of the latest consumer tech innovations and disruptive technologies, Constellation Research expects business value to reemerge as the common operating principle that resonates among leading marketing, technology, operations, human resource, and finance executives.  As a result, Constellation expects organizations to face three main challenges: (see Figure 1.):

  • Navigating disruptive technologies. Innovative leaders must quickly assess which disruptive technologies show promise for their organizations.  The link back to business strategy will drive what to adopt, when to adopt, why to adopt, and how to adopt.  Expect leading organizations to reinvest in research budgets and internal processes that inform, disseminate, and prepare their organizations for an increasing pace in technology adoption.
  • Designing next generation business models. Disruptive technologies on their own will not provide the market leading advantages required for success. Leaders must identify where these technologies can create differentiation through new business models, grow new profit pools via new experiences, and deliver market efficiencies that save money and time.  Organizations will also have to learn how to fail fast, and move on to the next set of emerging ideas.
  • Funding innovation through legacy optimization. Leaders can expect budgets to remain from flat to incremental growth in 2011. As a result, much of the disruptive technology and next generation business models must be funded through optimizing existing investments. Leaders not only must reduce the cost of existing investments, but also, leverage existing infrastructure to achieve the greatest amount of business value.

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Best Practices: Five Simple Rules For Social Business

Early Adopters And Pioneers Have Benefited From Social

Across executive board rooms and even in living rooms, social business is all the rage.  In 2010, social crm (SCRM) and Enterprise 2.0 (E20) rose into mainstream conversation.  Despite the mindshare and awareness, a majority of business leaders have yet to begin these initiatives.  The good news – those organizational leaders who have adopted disruptive technologies in social, have already realized the benefits.  Those benefits include:

  • Faster product time to market and customer adoption
  • Reduced marketing spend and increased marketing engagement
  • Reduced incident to resolution times that lead to greater customer retention
  • Greater market influence and brand awareness
  • Improved collaboration across departments and improved knowledge bases
  • Growth in the top line and savings in the bottom line

SCRM and E2.0 Evolve Into An Uber Category Of Social Business In 2011

Fast followers have noticed the business benefits and have begun planning for social business initiatives in 2011.  Innovative management teams can expect social businesses to bring together the many concepts of social media, social analytics, social media monitoring, social marketing, SCRM, E20, community platforms, and Vendor Relationship Management (VRM).  Leaders seeking to understand social business can succeed by following these five simple rules for social business (see Figure 1.):

Figure 1. Five Simple Rules For Social Business

  1. More…

Monday’s Musings: Next Generation CIO’s Face 11 Skill Shifts In A Disruptive World

The Era Of CIO Dictatorships Ends With 2009

Less than 5 years ago, the mighty CIO controlled his or her organization’s destiny by shepherding multi-million dollar projects and ruling with a fist. Business leaders had to pay homage to the IT team and they hated it.  The economic crisis, advent of the cloud and SaaS, and the massive number of IT failures have rapidly changed the role of the CIO.  Saddled with the burden of maintaining legacy projects and faced with a shortage in budget and resources, businesses now move around the IT team as they must meet a flurry of business requirements.  CIO’s have lost a lot of control in guiding how technology is used in the enterprise because the world of consumer tech has out innovated enterprise class technologies.

CIO’s And Their Organizations Challenged By The Pace Of Change In The 2010′s

Similar to this past decade, organizations will face massive amounts of change in the next decade.  While change is nothing new to CIO’s and their organizations, the velocity of change has increased – to a point where the rate of obsolescence outpaces the rate of change.  Conversations with over 200 CIO’s this year reveal an anxiety in remaining nimble, cutting costs, and just keeping up with change.  CIO’s must rapidly respond to disruptive forces in the market, workforce dynamics, business models, and pace of technology adoption (see Figure 1).

Figure 1.  Four areas of change responsible for major disruptions in today’s organizations

screen-shot-2009-12-21-at-112559-am

(Source: R Wang & Insider Associates, LLC)

The Bottom Line – The CIO Role Shifts To Match Next Gen Enterprise Requirements

What’s the role of the CIO in this next gen enterprise?  Well, next gen CIO’s must help organizations navigate complexity while realizing the benefits of a solid business technology strategy.   While the immediate focus may be on hot topics such as security and risk, third party maintenance, cloud and SaaS, and email replacement and unified communications, there are significant transformations across 11 broader skill sets (see Figure 2.)  Next Gen CIO’s must begin the process of transforming themselves and organizations in 2010 to meet the demands of the decade, anticipating the disruptive business models, technologies, and processes to come.

Figure 2. Eleven Skill Shifts For The Next Gen CIO

screen-shot-2010-01-19-at-74323-am

(Source: R Wang & Insider Associates, LLC)

In This Series

Your POV

What skill shifts are you seeing in your work as a CIO?  Do these shifts resonate? Do you have a different point of view? Please post or send on to rwang0 at gmail dot com or r at softwareinsider dot org and we’ll keep your anonymity.

Copyright © 2010 R Wang and Insider Associates, LLC. All rights reserved.

News Analysis: Oracle Formally Announces Fusion Apps

Oracle’s Fusion Apps Addresses A Broad Set Of Horizontal Modules

Oracle’s co-founder and Chief Executive Officer, Larry Ellison announced the code completion of Fusion Apps in today’s late afternoon keynote.  Though Ellison did not give precise guidance on general availability (GA), he did hint that the product would be available, “sometime in 2010″.  The product currently undergoes extensive testing and will comprise of  key modules including:

  • Oracle Fusion Customer Relationship Management
  • Oracle Fusion Enterprise Project Portfolio Management
  • Oracle Fusion Governance, Risk, And Compliance
  • Oracle Fusion Human Capital Management
  • Oracle Fusion Financial Management
  • Oracle Fusion Procurement
  • Oracle Fusion Supply Chain Management

Some key hallmarks of Oracle’s Fusion Applications V 1. (see Figure 1) include:

  • Role based design
  • Extensive provision for proactive reporting and alerts
  • Web 2.0 like usability
  • SOA architecture for integration of legacy applications
  • Multiple deployment options including on-premise, hosting, and multi-tenant SaaS

The V1 product will not deliver out of the box capabilities to support:

  • Discrete Manufacturing
  • Process Manufacturing
  • Public Sector

Figure 1. Fusion Apps Move Towards A Social Enterprise/Social Business Apps User Experience

(Source: Oracle Corporation )

The Bottom Line – Oracle Takes A Two Prong Strategy And Seeks Domination Of The Apps Market

Oracle’s continues to prove success in its business model.  By acquiring the leading companies with significant recurring revenue streams, it can drive economies of scale to make above average R&D investments.  The result – enough innovation in existing product lines to compel customers to pay maintenance and upgrade; and the time and resources to build a next generation product.  Should Oracle successfully deliver on Fusion Apps to customers in 2010, SAP will have to play catch up in mind share as many sources state that there are no plans for a new product until 2013/2014.  Other vendors will have to leverage or partner for middleware and PaaS options in order to sustain key Web 2.0 innovations in the enterprise.

Your POV.

Is seeing believing? As an Oracle customer will this compel you to stay on Apps Unlimited or make a move to Fusion Apps?  If you aren’t a customer, will you now consider Oracle in your short lists?  Feel free to post your comments here or send me an email at rwang0 at gmail dot com or r at softwareinsider dot org.

Copyright © 2009 R Wang. All rights reserved.

Trends: What Are The Emerging Technologies And The Future Of Business?

Thanks to the 799 registrants and 458 attendees who participated in today’s webinar on The Future of Business.  There’s so much to cover across leadership, innovation, customer, and enterprise as we enter a more social, connected business world.   The key thing we learned today was just how interested everyone is about these converging trends that shape the future of business.  To succeed, we’ll have to move beyond interest and towards action.  For those who missed out, here are today’s slides:

The Future Of Business by Altimeter Group

View more presentations from Charlene Li.

Your POV

Keep the dialogue going.  Check out the #futurebiz tweets.  What do you see are the key trends?   When do you think we’ll get there? Post your comment here or reach me direct at r at altimetergroup dot com or r at softwareinsider dot org.

Copyright © 2009 R Wang. All rights reserved.