The digital revolution is reaching beyond simple ecommerce to recast business models and turn entire industries upside down. Whether it is in consumer sectors or media, the life sciences or industrials, the pace of change is only picking up. Already, business leaders are confronting the next phase of technology as robotics, artificial intelligence (AI) and the Internet of Things (IoT) make their way into the mainstream.
To capitalize on digital opportunities and avoid digital threats, businesses must proceed based on knowledge — not guesswork. We help clients assess and then act on digital opportunities in six key areas: digital strategy and transformation, digital evaluation, channel strategy, customer experience, supply chain and production (Industry 4.0), and digital ways of working.
Digital Strategy & Transformation
Success in the digital age requires proper analysis and planning. Critically assessing how digital trends will impact your market, customers, internal organization and supply chain is the first step in developing a clear strategy and transformation roadmap. Next is understanding how digital products, offerings and business models may differ from traditional constructs, yield different economics and signal different strategic priorities. Analyzing these fact bases in light of your corporate objectives, investment and risk profiles, and other factors will bring clarity to a complex set of strategic choices and reveal the priorities, investments (including potential acquisitions) and organizational evolution it will take to succeed.
Your digital “footprint” is your go-to-market approach, the strength of your digital distribution and expression, your digital and data product portfolio, and your enabling assets and capabilities. Comparing this footprint with customer expectations and your competition will give you an improved understanding of where your digital capabilities and offerings stand today and whether there are particular gaps that may need attention. You’ll measure the opportunities and risks, which will inform near-term and longer-term digital priorities.
Developing the right channel ecosystem is complex, given the many direct and indirect digital and physical channels available to businesses today. Many companies are evolving their ecosystem from legacy channel strategies and investments, which further complicates the path forward. Creating an omnichannel strategy, including an effective plan for digital, and optimizing channel-specific tactics are essential for maximizing sales and marketing reach and profitability, and for managing inherent conflicts.
A superior user experience takes into account all major touchpoints along the customer’s journey, delivers on core needs and ideally exceeds expectations. Whether you are a consumer-facing retailer or an industrial component supplier, the digital age is bringing about entirely different customer preferences for how they interact with vendors and what defines quality service. Understanding these evolving needs and executing accordingly can not only drive satisfaction levels up, but also create real competitive advantage that leads to customer loyalty.
Supply Chain and Production (Industry 4.0)
The fourth industrial revolution is upon us and it is rapidly changing the way we manufacture and supply goods. Automation, AI and real-time analytics are just a few of the technology advances that are transforming supply chain and manufacturing operations. Understanding both the art of the possible and the risk of value chain disruption brought about by these new capabilities is critical for a business as it considers its broader strategic choices and weighs future investment decisions.
In addition to impacting a company’s product offering and delivery model, digital innovations such as augmented reality (AR)/virtual reality (VR), analytics and data visualization tools, and digital twins are having a profound effect on management practices, decision-making and the way work is done in general. Applying a range of digital best practices — where organization and process are often more important than the technology itself — can unlock meaningful new potential, establish differentiation and position a business for sustained success in contested markets.