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Peak commercial performance -- it's what all organizations strive to reach. At the most baseline level, we're talking about sustained, profitable growth.
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Applied Technology Review | Tuesday, February 09, 2021
FREMONT, CA: Peak commercial performance -- it's what all organizations strive to reach. At the most baseline level, we're talking about sustained, profitable growth. But while talking about it seems easy enough, actually getting there is another story.
Businesses that have cracked the code adapted to meet the evolving needs of the customer in spite of the increasing complexity of an ever-changing economy.
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Doing so successfully requires them to find ways to accelerate revenue and manage key relationships, while tackling the complexity that threatens to slow them down.
If you look at who's winning in the market, it's the companies that not only embraced digital transformation early, but also made it a core building block of their foundation moving forward.
The most successful companies have five key things in common:
Analyzing top-down to know where to start a digital transformation journey.
Before a company can even think about the technology it is looking to implement, it must first analyze the business as a whole and the objectives it is trying to achieve.
It is important to fully understand "who" the company is today, and how it has changed over time or under the current circumstances. Once companies understand this, they are in a better position to reshape business architectures in a way that best aligns with business goals.
Another option is to work with a third-party vendor to perform an audit of the company. This will help to get an unbiased view on where a company can improve. A vendor would also be able to provide industry best practices on what similar businesses have done to become more efficient.
Securing buy-in from all teams, especially company leaders.
Cultural transformation is the key to digital transformation success. One of the biggest challenges companies face when implementing new digital strategies is ensuring all team members are on board. This can be done through strong and clear internal communication. Outlining clear key performance indicators that will help show benefits such as increased sales effectiveness, customer satisfaction, and revenue, will help everyone involved understand why changes must be made.
When company leaders are on board, they can help act as advocates for projects and initiatives, while encouraging and rewarding agility amongst the rest of the teams involved. It is also crucial to provide training on any new technologies prior to implementation, while continuing to support and tend to any questions, and troubleshooting as new strategies are being rolled out.
Meeting customers wherever they are in their digital transformation journey.
The popular adage 'patience is a virtue' doesn't apply when achieving peak commercial performance is the end goal. Doing business gets harder every day because the ever-increasing complexities of a changing economy causes friction between companies and their customers.
Victory goes to those who are impatient and challenging the status quo with new business models that leverage digital transformation for speed. Those who can remove that friction are performing disproportionately well, even in the unpredictable times we are in today.
The secret to removing friction is meeting customers wherever they are in their digital transformation journey. This applies to businesses of all types across various industries -- from small retailers trying to bridge the technological gap with their older buyers, to large manufacturers that want to simplify complex purchase and fulfillment processes.
Winning businesses are transforming the way customers do this by meeting them where they are on the journey and enabling them to provide an enjoyable and frictionless customer experience.
Making customers business-agile so they can move at the speed of their customers.
Another key component of digital transformation is the ability to move at the speed of the customer. Businesses that get it right invest in ways that will get the customer from Point A to Point B as quickly and painlessly as possible. This requires an understanding that it's less about features and functions and more about removing screens, clicks, and other bottlenecks.
For example, consider Door Dash's success over the past six months. While the food delivery service was doing well prior to COVID-19, it's been doing even better during shelter-in-place and quarantine. DoorDash understood the points of friction in their customer's journey and implemented things like touchless payment and contactless pickup.
Today, the volume of its pickup business is growing by double digits as a result of removing friction and enabling customers to pay for and receive their meals sooner. Success requires moving faster to meet customer needs today while simultaneously increasing agility to prepare for an uncertain tomorrow.
Providing customers with resources for an all-digital, work-from-anywhere world.
Remaining agile in a dynamic market requires the ability to go fast in a straight line while also navigating around corners with confidence. This is especially important as companies grow and dodge inevitable curve balls during their digital transformation efforts.
For example, today we must provide customers with the resources they need to succeed in an all-digital, work-from-anywhere world. Because let's face it, even when the pandemic is under control, the return to the office will never look like what it used to. Businesses that invest in ways to help customers tackle complexity with confidence add capabilities under the hood to make features and functions faster, more dependable, and scalable.
High-performing businesses reach peak commercial performance by reducing friction in customer interactions in the face of a market with increasing complexity. Those who can meet their customers at any point on their digital transformation journey to help them move at the speed of their customers in an all-digital, work-from-anywhere world, are set up for success today and well into an uncertain tomorrow.
The foundation of industrial automation, supervisory control and data acquisition (SCADA) systems, are becoming progressively more important. They guarantee safety, facilitate real-time monitoring and control, optimize operations, and enhance decision-making. The interconnectedness of SCADA systems, which enable data gathering and analysis from a broad network of sensors and devices across an entire facility or several sites, is at the core of this innovation, which is propelling a new era of industrial automation.
IIoT integration facilitates edge computing. It reduces latency and bandwidth usage, allowing for faster decision-making and more efficient control of critical processes. Integrating advanced data analytics and AI into SCADA systems represents another significant leap forward. Modern SCADA systems can now analyze vast amounts of data in real-time, providing actionable insights beyond simple monitoring and control. AI-driven analytics can identify patterns, predict equipment failures, and optimize process parameters, improving operational efficiency and reducing downtime.
Advancements in user interfaces and visualization tools have made modern SCADA systems more than just functional. The interfaces often include real-time dashboards, customizable displays, and advanced visualization techniques, sparking excitement and intrigue about the future of industrial automation. The improvements enhance the operator's ability to manage complex systems and reduce the likelihood of human error. The potential vulnerabilities of SCADA systems to cyberattacks have led to significant advancements in security protocols and practices.
Modern SCADA systems have robust cybersecurity features, including encryption, multi-factor authentication, intrusion detection, and network segmentation. Real-time threat detection and response mechanisms have been integrated into SCADA systems, allowing immediate action during security breaches. The shift towards cloud-based SCADA systems represents a significant advancement in deploying and managing these systems. The model enables organizations to access SCADA data from anywhere, providing greater operational agility and facilitating remote monitoring and control.
Cloud-based SCADA systems support seamless integration with other cloud services, enabling advanced analytics, data storage, and collaboration across different departments and locations. The advancements in SCADA systems drive the next generation of industrial automation, characterized by increased connectivity, intelligence, and security. SCADA systems will remain at the forefront of industrial innovation, playing a crucial role in the future of smart manufacturing, energy management, and critical infrastructure. ...Read more
Interior design trends are changing, influenced by evolving visual tastes, cultural movements, technological progress, and shifts in lifestyle. The trends adapt to reflect people's changing needs and desires. While they might appear straightforward, the styles selected often carry more profound significance, reflecting personal and societal values. Interior design remains a dynamic field that is continuously evolving to align with the contemporary landscape and individual expressions.
Use of Color
Spaces can be made bigger, warmer, and calmer by color. Bright colors, such as 'Viva Magenta' 18-1750, make them stand out. With its vibrant hue, this bold hue illustrates how color plays a huge role in interior design. Color plays a vital role in creating a unique and captivating space, and this choice proves it.
Mixed Materials
Biophilic design is a popular trend in interior design, combining natural elements with beautiful textures and tones to enhance comfort and aesthetics. This style can be achieved by pairing multiple materials, such as stones, timber grains, tiles, and plants, to create a strong juxtaposition that communicates the space's function or a more prominent aesthetic theme.
Warm Colour Palettes
Bold colors dominate this year's trends, but warm color palettes are expected to become more prominent. Despite years of Covid-19 restrictions, people are now back to normalcy, yearning for more variety and comfort in their daily lives. Warm, earthy tones can create a sense of tranquillity in biophilic design, addressing the cravings of the new normal.
Geometric Shapes
The COVID-19 pandemic has prompted a shift in interior design towards minimalistic styles, requiring more vibrancy and life in spaces. Geometric patterns create solid visual features on walls, floors, and ceilings, creating a more balanced and visually appealing space. These patterns can develop focal points and add movement to the overall design, making spaces more dynamic and stimulating.
Sustainable Design
The design world embraces sustainable design, incorporating recycled materials, reused products, and long-term materials. This trend not only benefits the environment but also creates unique aesthetics. Businesses and places can demonstrate their commitment to reducing carbon footprint and promoting a wider and greener future. Sustainable design also creates visually appealing spaces that promote health and well-being for occupants, showcasing their commitment to a greener future. ...Read more
Sector convergence, which involves the breakdown of traditional divisions among several industries, is being accelerated by practical technology. This phenomena allows firms to leverage technology and proficiencies outside of their principal domain, fostering new business paradigms, value constellations, and opportunities.
Key Technological Catalysts
Several transformative technologies are serving as the primary drivers of industry convergence, providing the infrastructure and capabilities that enable cross-sector collaboration and the creation of new value. The Internet of Things (IoT) connects physical assets to digital networks, generating vast streams of data that integrate physical and virtual operations. For example, smartwatches and fitness trackers, initially consumer electronics, now serve the healthcare sector by supporting remote patient monitoring and preventative care. Artificial Intelligence (AI) and Machine Learning (ML) build on this data by enabling advanced analytics, driving smarter decision-making, and delivering hyper-personalized services across various industries. Retailers utilize AI to predict consumer trends, optimize supply chains, and personalize shopping experiences. At the same time, financial institutions leverage it for fraud detection and algorithmic trading, thereby blurring the boundaries between technology and traditional banking. Blockchain adds another dimension by offering a secure, transparent framework for managing transactions and data across multiple parties, streamlining cross-sector collaboration in areas such as supply chain management by reducing reliance on intermediaries. The rollout of 5G connectivity provides the speed and low latency necessary to support these technologies at scale, enabling real-time communication between devices and seamless integration across various industries. Autonomous vehicles, for instance, depend on instantaneous connectivity with smart city infrastructure and other cars, exemplifying the convergence of automotive, telecommunications, and urban planning.
Impact on Business and Society
Sector convergence is profoundly altering conventional business paradigms. A single product or service no longer defines enterprises; instead, they are evolving into comprehensive ecosystems that deliver an array of integrated solutions. This evolution fosters novel opportunities for innovation, concurrently introducing complexities such as navigating intricate regulatory frameworks and managing data privacy across disparate sectors. From a consumer perspective, this convergence facilitates enhanced convenience, personalization, and seamless experiences; however, it also raises concerns regarding data security and market dominance. As the trajectory of applied technology continues its advancement, the demarcations between industries will inevitably diminish, thereby ushering in a future characterized by interconnected and integrated services.
Ultimately, applied technology transcends mere efficiency; it represents a fundamental force for change, reshaping the very structure of our economy. The future will be defined by ecosystems of integrated services, where companies succeed not by dominating a single sector, but by seamlessly connecting their offerings with others. This era of convergence promises unprecedented innovation and convenience for consumers. Yet, it also necessitates a proactive approach from businesses and policymakers to navigate the challenges of regulation, data privacy, and market power. Embracing this paradigm shift is crucial for companies seeking to develop in a world where the distinctions between sectors no longer exist. ...Read more
Artificial intelligence and machine learning are proving to be very useful for weather prediction, as they are in many other fields of science. Machine learning has shown some potential in our research on forecasting high-impact weather. Researchers also believe these tools open up new possibilities for better forecasts where more than human expertise is required.
There still are major challenges with employing just human expertise. It remains difficult to predict tornadoes, large hail, or heavy rain during thunderstorms. Inaccurate predictions trigger subsequent inaccuracies in predicting small changes in complex processes, making weather less predictable.
Models: Numerical weather prediction models are today's primary tools for weather forecasters. Weather stations, balloons, and satellites provide observations of the current state of the atmosphere for these models, which solve equations governing air movement.
It is possible to predict most weather systems with these models, but the smaller the event, the harder it is to do. Integrating weather prediction models with human analysis leads to better predictions. Forecasters are remarkably good at analyzing the huge amount of weather data they receive daily, but their memory and bandwidth could be improved. Machine learning and artificial intelligence can help with some of these challenges.
Artificial intelligence (AI): These tools allow forecasters to make predictions beyond models' capabilities, such as high-impact weather. A machine learning approach is also being incorporated into numerical weather prediction models to speed up tasks that can be computationally intensive, such as predicting how water vapor turns into rain, snow, and hail.
Machine learning (ML): In the future, machine learning models may replace traditional numerical weather forecasting models. These systems process past weather maps instead of solving complex physical equations as models do to learn how weather systems typically behave. They then make weather predictions based on historical data and current weather conditions.
Research has shown that machine learning-based forecast systems can predict general weather patterns and numerical weather prediction models with only a fraction of the computing power. Researchers are closely testing these new tools and developing new methods for forecasting local weather. Although they still need to provide detailed information about local weather, these tools have promising prospects. ...Read more