“Once they’ve laid the business objectives and building blocks groundwork, enterprises can develop their digital transformation analytics roadmap. In order to achieve the desired business outcomes from the analytics process, they need to embrace a structured, five-step iterative approach.”
via Everest Group
According to the ‘Global Capital Confidence Barometer’, the use of technology, automation and AI for some routine processes is increasing as labor becomes scarcer and the battle for talent intensifies. This could enable companies to free up valuable resources to focus on broader strategic issues.
While data have always been an important business input, recent advances in AI and analytics are increasing the number of arenas in which decision-makers can activate data’s superpowers, from hiring to product development to customer engagement.
To an ever-increasing extent, open innovation is digital. Most innovations today are new products, processes or business models at least partly enabled by digital technologies or embodied in data and software.
“92 percent of those surveyed agreed that companies must be proactive about data protection. The good news for banks: most consumers (42%) trust them more than any other industry, apart from hospitals.”
According to Juniper Research, the annual value of virtual cards (e.g. temporary card numbers only available for a single transaction or limited time) used by businesses will grow by 90 percent over the next four years — exceeding $1 trillion by 2022.