Data is the new gold! These were the headlines hitting business news not too long ago... Now data is being called the new oil! And rightfully so.
Only in the last few years the majority of currently existing data has been generated. Companies are rallying to explore how #data can magically transform their business.
I agree that “data is the new oil” is a better description. While it’s a powerful fuel for companies to drive their business growth or survival, it also imposes an impact to our environment which we need to consider.
Data centers worldwide consume more electricity than the total UK population, which accounts for 3% of greenhouse gas emissions, which on it’s turn is more than the total aviation industry.
Around 40% of energy consumed by data centers is used to cool down the servers. While tech companies are working hard to find solutions how to decrease electricity usage by placing data centers in cold countries or using renewable energy, Google deserves a special recognition.
Their data centers use 40% less energy than the industry standard.
To sum up, as business leaders we should think more critically about the data we generate and collect the one which we plan to use.
This weekend I was cleaning up my cupboards and look what I found - TomTom thingies. This made me wonder how is this company doing these days?
After a bit of research I understood that TomTom went through a very impressive digital transformation. They turned from a B2C company selling navigation devices to a B2B data-driven enterprise empowering the future of self-driving cars.
These days TomTom lives and breathes big data by collecting 19 trillion anonymous data points in total! This data is being used to solve mobility issues, manage traffic real-time and empower e-vehicles of the future.
Truly impressive and inspiring digital transformation by TomTom.
In business sometimes we become too much of fashionistas! One season features all about LEAN thinking experts, whereas another one it’s all about the digital transformation.
I believe it’s important to work on your style because it focuses on long term sustainable results instead of following short term fashion trends which bring only temporary results.
In my blog post I talk about LEAN thinking and Digital Transformation meaning and how they fit together instead of compete as two separate subjects.
Another great read to get a different perspective how business can rethink their business in the digital age.
The author David L. Rogers suggests that digital #mtransformation is not about technology but about strategy. So companies should rather put their resources in upgrading their strategic thinking in 5 areas:
1. Customers. They are dynamically connected and interacting in ways that are changing their relationships to business. Instead of mass markets, we see customer networks.
2. Competition. We are moving into more fluid industry boundaries where our biggest competitors may come from outside of our industry.
3. Data. Today it's being generated everywhere and becoming a vital part of almost every business operation.
4. Innovation. Digital technologies enable a different approach to innovation - through rapid experimentation instead of big-bet decisions.
5. Value. Traditionally value propositions were seen relatively constant whereas these days it's crucial to continuously seize emerging opportunities, divest where necessary and adapt early.