Spring is in the air
The first warm rays of sun have interrupted winter and with vaccination programs now active, we can start to look beyond the current Covid lockdown restrictions. Covid has halted and disrupted many businesses whilst also accelerating the shift to digital business models across the economy.
We are unlikely to return to the “old normal” – so what will the “new normal” be?
Getting ready for a new normal
Let’s start by recognising that our world was already changing before Covid struck and that the lockdown situation has enabled data driven and digitally enabled businesses to flourish where traditional models have floundered. The core message is simple – there has been a major shift towards digitally enabled platform and data driven business models. Many data driven businesses have doubled in value during Covid!
Why is this happening? Its because of data and the way this is now being used! In this article we summarise the major changes that have taken place and highlight the emergence of a new business model.
Our world is not just mirrored in a data world – it’s being driven by it
Nine of the top 10 currently most valuable companies in the world are technology majors, Tesla is already worth more than the next nine major car manufacturers combined, Apple is worth more than the entire FTSE 100. Unicorn startups such as Revolut, Klarna and Adyen are disrupting financial services whilst innovative rising stars disrupt other sectors as varied as car rental (Car2Go and Greenwheels) and Accommodation (Booking and AirBnB).
Emergence of a “Data Driven” business model
In almost every sector of the economy, from government, security and military, to financial services, manufacturing, healthcare and telecoms – a new type of business model has arisen which is changing the rules of competition. this business model is referred to as the “Data Driven” or “Platform” business model. Once established this new model is very difficult to compete against – as many traditionally organised businesses have discovered.
We strongly believe that business leaders must now consider data as one of the most important resources in business. The businesses who are using data and AI are already leading in almost every sector of our economy. This requires that business leaders reconsider the role that data plays in their business model – and how it is captured, managed and leveraged to improve efficiency and provide smart propositions to clients.
We can help you and your organisation understand the impact data is having and make the shift to be data driven and digitally enabled. This requires taking three steps as described below (with links):
This three step transformational journey can be followed as an individual, as a team or with an entire organisation. We combine live consulting support with online eLearning and interactive webinars to realise the essential transformation both quickly and efficiently.
FAIR Data Management – Awareness and Stewardship
FAIR stands for Findable, Accessible, Interoperable and Reusable – just what we want for Data! On average we waste around 10% of our time looking for correct, reliable, accessible and accurate data. Due to the difficulty of finding and maintaining data, people also start producing their own local copies, making the problem of managing this data even bigger.
To address the need to manage data within a data driven business, we have launched a completely new learning path under the name FAIR Awareness. FAIR Data is the bridge between data-driven business models and Artificial Intelligence and we describe how to manage data using the FAIR principles.
Our first clients have now followed the FAIR Awareness learning path as a combination of online learning and interactive, online workshop. This blend helps create alignment and realise transformation using online interaction.
We are now building the follow-up, namely the FAIR Data Stewardshiptraining. This will go deeper into the implementation of FAIR principles in the organisation and thus follow on from the Awareness path.
Our AI and Blockchain programmes are now accredited by EXIN
We are delighted to announce that our online AI learning journeys have been accredited by EXIN to the internaitonal BCS AI Essentials and Foundation levels. Our Blockchain learning journeys are also accredited by EXIN. You can now take the relevant exam to gain a professional certification after following our accredited learning path.
Collaborative Risk Management learning
We will soon be starting the collaborative learning programme where a number of financial institutions collaborate on risk management learning paths using our platform. Our Foundation programme is already live and in use and we will start working soon on an expert level programme and a Fit for the Future programme. If you are interested in collaborating on this then please contact us.
And we continue to share our thinking on a broad range of platforms
We continue to deliver our thinking via our education and industry partners. We have largely switched to running masterclasses via webinars with electronic dashboard instead of classroom setting due to Covid.
We have also discoverd that we can shorten our three day classical programmes to two days when the participants firstly follow the eLearning. This enables us to focus on confirming understanding, answering questions and addressing implementation in the live session, rather than knowledge transfer. The eLearnings achieve their learning goals!
We hope you remain healthy and look forward to talking again soon.