The connected economy mark skilton july 15 bright talk v2

© PA Knowledge Limited 2015 1

SHARE ON GOOGLE+ SHARE BY EMAIL EMBED BUILDING DATA VALUE IN THE CONNECTED ECONOMY – INSIGHTS & PRACTICAL EXAMPLES

Prof. Mark Skilton PA Digital,

Warwick Business School

Professor of Practice ISM

July 15

https://www.brighttalk.com/webcast/9059/162741?autoclick=true1








• Building the “connected economy” the role of data and new economics of data power –

PA consulting , Warwick Business School – Mark Skilton

Building Data value in the connected economy – insights & practical examples

Prof. Mark Skilton PA Digital,

Warwick Business School

Professor of Practice ISM


The value on data is rapidly shifting in many industries , recent high profile examples are the

shift in ePayments where the micropayment transaction values are trending to fractions of

cost. The value is more in what the payments provider and the banking system knows about

the individual and the buying behavior. Another is in the recent “Swift versus Apple” and

Amazon tinkering with some eBook payments towards authors being “paid per number of

pages read”. The issue of data and analytics is central to the sharing economy and the

crowd economy that are driving new economic and monetization business models.

This session on July 15 looks at the emerging tools and business models that seek to deal

with the digital convergence of data, customers and companies and the disintermediation

and re-intermediation of markets.

Building Data value in the connected economy – insights & practical examples


THE HYPERCONNECTED BUSINESS

NEW VALUE DRIVERS ENABLED BY DIGITIZATION

Reported

% GDP

Digital

economy

Actual

Social

Behavior

% shift to

online

adoption

% CAGR

of Shift to

Digital

Enterprise

Activity

Results

20-30%

7-11%

40-90%

Modern

Digital

Economy

Finer Grained

Data and

connectivity

Increasing

Customer

&

market

Connectivity

Modern

Digital

Business

THE DIGITAL ECONOMY – THE “TRIPLE SCALING EFFECT”


DIGITAL

OPERATING

MODEL

CUSTOMER

EXPERIENCE

NEW

OUTCOMES

With customers, workforce, suppliers,

through objects, places, spaces,

assets, services

Leadership, ambition,

creativity, innovation,

skills, practice, organization,

products & services

Performance, Stakeholders,

competitiveness, sustainability

governance, reliability, trust,

security, compliance

Creating the

Digital Vision

Enabling the

Value experience

Building growth

and return on investment

Modern Digital Business

WHAT DOES THIS MEAN FOR MONETIZING YOUR DIGITAL BUSINESS ?


Source: PA Innovation Lab

NE

W O

UT

CO

ME

EC

ON

OM

ICS

GROW YOUR ADDRESABLE MARKET VALUE

UNDERSTAND AND DRIVE VERTICAL

AND HORIZONTAL ECONOMICS OF

THE DIGITAL ECONOMY

Digital

Enterprise

Cost &

Efficiency

Revenue

Extended

Growth

Generative

Growth

Existing

market Size

Upsell, cross sell

Extended

Vertical and

Horizontal experience

Co-presence, platforms

and “integrated economy”

DIRECT PRODUCTS

& SERVICES

SECONDARY PRODUCTS

& SERVICES

CONTEXTUAL

PRODUCTS

& SERVICES

REDEFINE

INDUSTRY STRUCTURE

DYNAMICS

“Triple Scaling Effect”

Reported

% GDP

Digital

economy

Actual

Social

Behavior

% shift to

online

adoption

% CAGR

of Shift to

Digital

Enterprise

Results 20-30%

7-11%

40-90%

Modern

Digital

Business

TECHNOLOGICAL FOCUS VERSUS CUSTOMER CENTRIC FOCUS



The Changing Digital Enterprise Model Most companies are

not addressing the

latent Potential of the

Digital Economy

Most companies

not engaging customer

in the context of

their locations

Many organizations are not scaling their digital

ambitions to respond to the opportunities and

challenges of the Digital Economy

Rooms /Facilities

Personal / Business Communities

Travel - In transit

Contextual relationships

Knowledge

Objects

ADDRESSIBLE

MARKET

Sensors, Actuators

DIGITAL

OPERATING

MODEL

CUSTOMER

EXPERIENCE

NEW

OUTCOMES

Creating the

Digital Vision Building growth

and return on investment

Modern Digital Business

Enabling the

Value experience

With customers,

workforce, suppliers,

through objects,

places, spaces,

assets, services

Leadership, ambition,

creativity, innovation,

skills, practice,

organization,

products & services

Performance, Stakeholders,

competitiveness, sustainability

governance, reliability, trust,

security, compliance

BUILD YOUR DIGITAL BUSINESS



A new approach to realizing Digital Business



Build your Digital Business



UNDERSTAND

HOW ECONOMICS OF VERTICALS

AND HORIZONTALS NEED CNNECTED SPACES & PLATFORMS

Understand HORIZONTAL ECONOMICS

CUSTOMER JOURNEYS


Public

Services Financial

Services

Health

Care Retail

Embedded software

feedback

Product Data Management

mediation

Transport

Automotive

Private partner

services

Self-service medical

appointments

eHealth monitoring

mHealth tracking and

personalized feedback

Co-design with partners and

customers

Vehicle automation

Telecoms

Payments start-ups

Digital currency alternatives

Context based

product-payment

links Digital wallets

Unb

un

dlin

g

Reb

un

dlin

g

Community sourced

services

Start-up incubation

Smart amenity

Community innovation

Unb

un

dlin

g

Reb

un

dlin

g

Un

bu

nd

ling

Reb

un

dlin

g

Unb

un

dlin

g

Re

bu

nd

ling

Unb

un

dlin

g

Reb

un

dlin

g

Unb

un

dlin

g

Re

bu

nd

ling

Unb

un

dlin

g

Re

bu

nd

ling

Localized online services

Pro-sumer product marketing

collaboration

Social media marketing

Crowd sourcing

Self-service

planning

Crowd sourced

Rides

Journey ePayments

Partner services

Unlocking

New alternative

Band Networks

Quad play

OTT services

Lifestyle services

Partner services

“ Consumers can occupy and choose services in clusters “

Modern

Digital

Economy

Modern

Digital

Business

3D Printing

“Maker” Communities

Embedded

Platforms

Electronics

Fabrication

intermediation

Unb

un

dlin

g

Reb

un

dlin

g

UNDERSTAND

LIMITES

AND ACCESS

IMPLICATIONS

OF VERTICALS

ECONOMICS

Understand VERTICAL ECONOMICS


Building Digital Enterprise - Living Digital Spaces …MULTIPLIER EFFECTS

Enterprise Customer Outcomes

Objects

Rooms, Facilities

People, Businesses

Space

Time

Digital

Signage

Smart PoS

Payments

Crowd Sourcing

Innovation

Partner embedded

services

Mobile App Purchases

Multi-channel leverage

Social media discounts

Brand cross-sell, up-sell

Social – Market

connections

3rd party Turnover

pull-through

% Mobile Sales

% indirect sales

% Brand Sales

% Address1ble Market

% Total cost of

operation

Time to market

Changes in channel

stock

VISUALIZATION & INTERACTION

DIGITAL PLATFORMS – NEXT GENERATION

HORIZONTAL

VERTICAL


The Information ECONOMY

DIGITAL BUSINESS

& CUSTOMER EXPERIENCE WORK GROUP

http://www.opengroup.org/getinvolved/forums/platform3.0

Open Platform3.0

The Open Group




Thinking Digitally – THE GENERATIVE ECONOMY

“in one digital

minute”

“Growth in one digital

year”

Technologies Technology

clusters

Digital Ecosystems

Digital Economy

Digital

Enterprise

© PA Knowledge Limited 2015 15 Source: PA Innovation Lab

Cost &

Efficiency Revenue

Extended

Growth

Generative

Growth

NE

W O

UT

CO

ME

EC

ON

OM

ICS

BUILDING MODULAR, SCALABLE PLATFORMING CAPABILTIES

DISRUPTIVE

STRATEGIES

(Converged Omni-channel)

2-sided Market

Platforms TSPs

Examples

Healthcare –

Translation to Bench

mHealth monitoring

News- Media – Entertainment

Education - MOOC

Retail - eMarketplace

Web apps

Web catalogs

Social Networks

Content mashups

Mobile apps

Mobile gaming

Mobile geo-presence

Mobile adverts

Financial Services –

On-line payments

Citizen services –

identity management

Multi-sided Market

Platforms MSPs

Value Network

Ecosystems VNEs

Examples

Smart City

Connected Car

Smart Hotel

TECHNOLOGICAL FOCUS VERSUS CUSTOMER CENTRIC FOCUS


Designing Digital Spaces

UX

DEco

DX

CX INCREASING SCALE AND IMPACT OF

DIGITAL ENTERPRISE

Value Network

Ecosystem

Digital

Spaces

Digital

Ecosystems

Customer

Experience

User

Experience

UI

User Interfaces

Connected

Platforms

NE

W O

UT

CO

ME

EC

ON

OM

ICS

BUILDING THE DIGITAL ENTERPRISE

TECHNOLOGICAL FOCUS + CUSTOMER CENTRIC FOCUS + INDUSTRY FOCUS

ECOSYSTEM

DESIGN

PATTERNS

Enabling

Engagement

ECOSYSTEM MANAGEMENT

GOVERNANCE, STANDARDS, BEST PRACTICES, METRICS,

TRUST, COMPLIANCE, ASSURANCE, CLUSTERS, INCENTITIVES,

PERFORMANCE, MONETIZATION, PORTFOLIO, BUSINESS CASE


PA Consulting

AWARD WINNING

PREMIER CONSULTANCY

@GoDigitalPA

Customer

Experience

Management

Digital

Operating

Models

Digital

Business

Strategy

Models

Digital

Products

& Services

Digital

Technology

Models

Cyber

Trust &

Security

Digital

Strategy

Digital

Business

Design

Digital

Implementation

Operating

Digital

Business

Scope and end to end scale

+2500 Consultants

Worldwide

Transforming business

from strategy to delivery

ECOSYSTEMS, STANDARDS,

PRIVACY, TRUST, PROGRAM TRANSFORMAITON

SUSTAINABILITY, GOVERNANCE

Innovate

Adopt

Scale

TALK TO PA ABOUT

OUR DIGITAL SERVICES

Wearables

& IOT

Social

Analytics

“BUILDING THE

CONNECTED ECONOMY”

CONTACT

MARK SKILTON

07808 039240

[email protected]

PA DIGITAL

SERVICES

mailto:[email protected]


Free Book (Limited time)

Palgrave macmillan

International

“Business in the

Digital Economy”

Professional

International Series

http://www.paconsulting.com/our-

thinking/building-the-digital-enterprise/

LINK

The connected economy mark skilton july 15 bright talk v2

Internet

Transcript of The connected economy mark skilton july 15 bright talk v2