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.
It is becoming more and more evident that business professionals need to collaborate better with IT colleagues and vice versa. There is simply no other way to drive successful digital transformations.
So mutual understanding of each other’s work is crucial here. While these days we have quite many online trainings and webinars on technology skills, business understanding for IT professionals is less covered, in my opinion.
When I get asked by technology gurus who want to better understand business, I always recommend this book - “Value Drivers” by Mark C. Scott. Even though it doesn’t read like an easy ‘novel’, it provides a great holistic view how to look at business from end2end perspective.
Any other book recommendations from others?
Digital transformation heat wave is high these days and it doesn’t seem to go away any time soon! But still so many of those digital initiatives start with huge enthusiasm, yet end up with disappointment.
So what can we learn to increase success rates of digital transformations in business organizations? This time I thought to take a look at LEAN thinking and see what inspiration we could take from there.
What are your lessons learnt from driving digital transformation?