Are you getting burned out over the endless hype that is Digital Transformation and its attendant terrors: is your business being Ubered, will you be swallowed by the Digital Tsunami, are you pursuing data-driven business models, etc.?
Beneath the hype are some core questions about what this Digital Business phenomenon really means to executives, their businesses, and entire – yes, reconstituted – industries.
Here at Digital Bridge Partners, we’ve been demystifying the what, why and how of Digital Business Innovation by examining the ways digital is changing the axis of competition and value creation from what we call digitally-enabled value creation to digitally-driven value creation.
As the graphic indicates, digitally-enabled value creation pertains to digital acting upon traditional physical elements (basically people, things and processes).
As these traditional business elements are increasingly “hyperconnected,” data and insights about these connections start to produce unique value. This value is transitional as the value is not yet driving actions and outcomes.
Next, we enter into the stage of digitally-driven value, where the digitally-driven data and insights inform and drive actions and outcomes.
This shift in value creation matters because it is:
the basis of new competitive advantage created by people like Uber and Airbnb – entire businesses built around digital outcomes
driving huge valuation swings and rewarding companies that are first-movers in leveraging these digitally-driven revenues
exactly these hyperconnected, digital outcomes that customers, business partners, and employees want (and are even starting to expect) from the companies in their inner circles
Please see us at Digital Bridge Partners for more information and insights into how we collaborate with companies interested in accelerating their Digital Business Innovation.