by Jim Sinur
While some debate the meaning of digital transformation and others predict the “digital fail,” there are others delivering better digital solutions using a variety of approaches. Summarized here are three case studies presented at TIBCO NOW 2018 that caught my eye. Aragon Research thinks it is good to share successes to encourage others to deliver on digital and share what works and what needs improvement.
Changing a Brand: From Last to First
Imagine leveraging digital assists to take a brand from a lagging position to a leadership position. Rome’s Fiumicino International Airport “Leonardo da Vinci” was often at the bottom of satisfaction surveys in the Euro arena, but this all changed with the leverage of digital approaches and technologies. The business-led team leveraged real-time data to anticipate traffic jams with passengers and flights to create smoother and anticipatory processes to avoid jams at key locations. By studying the journey of customers and flights and monitoring them in real time, the team was able to reduce jams and respond quickly and ahead of time by adjusting processes and resources. This led to winning the Most Improved Airport award for 2018.
Staying Ahead of the Pack: Dominating the Circuit Leveraging Real-Time Data
To remain a leader in the Grand Prix series of races is no small feat, particularly with all the restrictions. This is particularly difficult with the limits on real track testing. This puts a premium on using simulation and leveraging generated data from real track time (very limited) and simulation time (more open). To this end, the Petronas team, representing Mercedes Benz AMG, has leveraged the linkage between digital and real representations of driving conditions (against tracks, other drivers, and under multiple conditions) to stay on the top of the pack in a good number of successive years.
Reaping Revenue: Insurance Company Tunes Risk Models
Often, organizations leave money on the table when building and following risk models. By leveraging new and emerging risk models against traditional models, this insurance was able to select the new model for revenue increases. There is a point at which both models agreed on acceptance and rejection, and it seemed reasonable, but the old model actually created some new risk exposure. The real gem was the minimal amount of risk that could be leveraged for an instant revenue increase. Over time, a portion of managed high risk could also be brought on board with appropriate changes to processes, policies, and rules.
Net-Net
It’s early in the digital transformation era and the case studies are starting to roll out. These were the three I selected amongst many others. The news is good, and we can expect to see organizations benefiting at all levels of their business (infrastructural, operational, tactical management and strategic business models). Granted, new business models can scare organizations into embracing digital transformation, but Aragon Research believes that incremental success will be the most common approach to an unending digital transformation journey. Aragon also recommends constant monitoring of threats and opportunities in light of emerging strengths in capabilities and weaknesses in an organization. Keeping vigilant in this agile world is the key to success.