DT Alert: Lies, Damn Lies & Unverified Data
Feb15

DT Alert: Lies, Damn Lies & Unverified Data

Digital transformation — AKA DT or Industry 4.0 — is changing everything, but even if your company succeeds, and such success is rare, the veracity of your data will make or break you. In the emerging data-driven economy where trust is essential, there is too-little focus being placed on the accuracy of that data, said Michael Biltz, Managing Director for Accenture Technology Vision and Accenture Technology Labs. He told IT Trends & Analysis “companies are not making investments to make sure the data is true.” In the past it didn’t matter if the data wasn’t right, but that’s not true anymore, he added. It’s no longer a case of if, but when you embrace digital transformation. On average, companies going digital expect to increase annual revenues by 2.9% and reduce costs by 3.6%, but the DT overachievers are looking at both revenue gains and cost reductions of more than 30% at the same time. But achieving DT is hard: the failure rates for unsuccessful digital transformation projects range from a low of 70% to as high as 84%, with the biggest barrier being cultural resistance to change, followed by legacy IT systems and retaining critical talent, respectively. For the global 2000 companies, digital transformation is mandatory, said Biltz. “This is not optional.” According to “Intelligent Enterprise Unleashed: Redefine Your Company Based on the Company You Keep,” the professional services giant’s annual technology report, DT – the multi-trillion-dollar business phenomenon enabled by cloud computing, Internet of Things (IoT), big data and analytics (BDA), mobility, social media and security – trust will be a critical component. The survey of more than 6,300 business and IT executives worldwide found that the rapid advancements in technologies, including artificial intelligence (AI) and analytics, ‘are enabling companies to not just create innovative products and services, but change the way people work and live.’ “Just as cities developed around ports and then railroads, or people rebuilt their lives around electricity, the world today is reimagining itself around digital innovation — and, by extension, the companies that provide those services,” said Paul Daugherty, Accenture’s chief technology & innovation officer, in a prepared statement. “This requires a new type of relationship, built on trust and the sharing of large amounts of personal information.” However, all this presupposes that customers, employees and partners, and regulators are trustworthy, and that the data they make their decisions on is accurate, said Biltz. “The reality is we are not holding, companies are not holding, themselves to a high enough standard.” As opposed to the current environment where companies – and others – exchange products and services for compensation from their customers, the...

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DT Success Is… Elusive
Dec21

DT Success Is… Elusive

Everybody needs it. Most everybody is trying to achieve it. And the majority of those who try fail to realize its benefits. It is digital transformation — AKA DT, DX or Industry 4.0 — the multi-trillion-dollar business phenomenon enabled by cloud computing, Internet of Things (IoT), big data and analytics (BDA), mobility, social media and security that is reshaping everything for the foreseeable future. Succeeding at DT is the next new normal, and the stakes are literally life and death, i.e. a 33% increase in speed to market; 40% increase in customer satisfaction; and 37% increase in new business revenue. On average, companies going digital expect to increase annual revenues by 2.9% and reduce costs by 3.6%, but businesses going all-in can achieve both revenue gains and cost reduction of more than 30% at the same time. So DT is an extinction-level phenomenom that is transforming all aspects of our lives, and while the stakes are high, the risks — and failure rates — are higher. The failure rates for unsuccessful digital transformation projects range from a low of only 70% to as high as 84%. The biggest DT barrier is cultural resistance to change, followed by legacy IT systems and retaining critical talent, respectively. “One of the things that our research and expertise consistently show is that shifting people and how they need to operate differently are where some of the big challenges are coming from, as more and more companies try to digitally transform,” said IDC’s Shawn Fitzgerald, research director, worldwide digital transformation strategies. Positioned as a Leader in IDC’s Worldwide Digital Transformation Consulting and Systems Integration Services 2017 Vendor Assessment, Accenture is also grappling with DT internally, as its more than 400,000 professionals visit more than 10,000 customer sites daily, said CIO Andrew Wilson. He told IT Trends & Analysis that organizations need to transform from old techniques and waterfall philosophies to much more horizontal processes and experiences. “You have to be much more real-time.” The service provider practices what it preaches, focusing on the new skills and training required to enable an increasingly mobile and dispersed workforce to make the most effective use of the latest technologies. Wilson said his company is working to connect employees through social collaboration tools like The Stream, Accenture’s version of Facebook, that enables employees to stay connected with colleagues and communities, post updates and share knowledge anywhere. It also uses video communications, including the CIO’s monthly talk show for employees that features interviews with executives from Accenture and alliance partners. A key component of the SP’s DT-delivery capabilities is called Accenture Digital — consisting of Accenture Analytics, Accenture Interactive...

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Enterprise(s)… Need Formal Incident Response Programs

Like BC/DR (business continuity/disaster recovery), large organizations will need adequate resources, skills, and technologies to get their IR programs right. This may require help from service providers like Accenture, Booz Allen, E&Y, HP, IBM and Sungard, or SaaS providers like Co3 offering software that can help organizations track IR processes, workflow, project plans, etc. Given the insidious threat landscape and current immature state of many IR plans, CEOs should push forward with IR program improvement initiatives ASAP. To read the complete article, CLICK...

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Enterprise CISO Challenges In 2014

I’m sure lots of CISOs spent this week meeting with their teams, reviewing their 2013 performance, and solidifying plans for 2014.  Good idea from my perspective. The CISOs I’ve spoken with recently know exactly what they have to do but aren’t nearly as certain about how to do it. At a high level, here’s what I’m hearing around CISO goals and the associated challenges ahead this year: To read the complete article, CLICK...

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New Year’s Forecast For The Info Security Industry: Part 1

I hope my cybersecurity colleagues enjoyed their holiday these past few weeks. It was surely well deserved as the year 2013 will be remembered as a whirlwind of activity featuring successful IPOs and scary security incidents. Given this, it’s likely that security professionals spent the last few weeks with one eye on family and holidays and another on emerging details about the massive breach at Target. So what’s in store for the information security industry in 2014? On the surface, it should be a happy new year across the board for security technology vendors, MSSPs, and professional service firms. That said, there is a lot of work ahead as enterprise organizations figure out how to transform an army of point tools and manual processes into a cohesive security strategy. To read the complete article, CLICK...

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