Reporter: Joel T. Shertok, PhD
By Aamer Baig, Bryce Hall, Paul Jenkins, Eric Lamarre, and Brian McCarthy
1 – Most C-suite executives have led their companies to digitize some part of their business to protect employees and serve customers facing mobility restrictions.
2 – We have vaulted five years forward in consumer and business digital adoption in a matter of around eight weeks.
3 – WE need to confront three structural changes that are playing out: a – customer behaviors and preferred interactions have changed significantly; b -as the economy lurches back, demand recovery will be unpredictable; c – many organizations have shifted to remote-working models almost overnight.
4 – Customers have already migrated to digital. Employees are already working fully remotely and are agile to some degree. Companies have already launched analytics and artificial-intelligence (AI) initiatives in their operations.
5 – Companies must adapt: they must reimagine customer journeys to reduce friction, accelerate the shift to digital channels, and provide for new safety requirements.
6 – CEOs should ask their business leaders to assess how the needs and behaviors of their most important customers have changed and benchmark their digital channels against those of their competition.
7 – Modern businesses have several forecasting and planning models to guide such operational decisions. Organizations will need to validate these models.
8- As companies construct these models, analytics teams will likely need to bring together new data sets and use enhanced modeling techniques to forecast demand and manage assets successfully.
9 – The chief analytics officer should mobilize an effort to inventory core models and work with business leaders to prioritize them based on key operations and their efficacy drift.
10 – Two features of a modern technology environment are particularly important and can be rapidly implemented: a cloud-based data platform and an automated software-delivery pipeline.
11 – Companies that have led the way in adopting flatter, fully agile organizational models have shown substantial improvements in both execution pace and productivity.
12 – Leaders who want to succeed in the digital-led recovery must quickly reset their digital agendas to meet new customer needs, shore up their decision-support systems, and tune their organizational models.
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