System of Insight: The Key Ingredient for Digital Leaders
Blog: The Tibco Blog
Trudging through data swamps is not how you should be spending valuable time and resources. Instead, you need a solution that allows more time for innovation, fast and smart innovation. Companies capable of achieving fast and smart innovation can be considered digital leaders — something much more than a title. According to a 2016 McKinsey & Company study, over the past three years, digital leaders have achieved greater revenue growth, operating margin profit, and return to shareholder than digital laggards. Such an achievement requires a system that allows you to combine people, process, and technology to achieve insight and action — a System of Insight (SOI).
Differentiating your business is the only way to beat your competition and to do so you need to combine sophisticated assets from your business — people, processes, and technology.
An SOI leverages all of these to collect, understand, and act on data. But, it doesn’t stop there. An SOI is especially important for a business to learn and optimize throughout their processes so that each business decision is better and more informed than the last. This cycle creates an environment where your business can continually improve. In this environment, you have more confidence, freedom, and time to experiment and test innovation.
However, innovation, insight to action, and continuous learning aren’t the only benefits of an SOI. From better operating cost to the ability to deliver a compelling customer experience, the wealth of opportunities provided by an SOI are too great to miss out on. By providing a 360-degree view of your business, this well-oiled machine can truly make a difference. Data-driven decisions that lead to action and innovation are the perfect ingredients for creating a digital leader business.
Take a deeper dive into the Systems of Insight with analytics expert Shawn Rodgers.