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6 Ways The Digital Economy Is Reshaping The Future Of Work!

6 Ways The Digital Economy Is Reshaping The Future Of Work!

Hyperconnectivity has led us to a new era, in which the “knowledge worker” has come to an end and the “digital worker” now needs to step up and create instant value from a vast array of real-time data. As technology continues to increase computing power and data analysis speed to real time, today’s companies and employees are called to adapt to the reality of automated and instantly available data.

The speed of information and data is driving such significant change in how and where we work that the digital worker is becoming a critical resource in decision-making, learning, productivity, and overall business management. How we adapt to these changes when we learn, interact, motivate, engage, connect, and create value for ourselves and our society will make the difference between being successful and being left behind.

How everything we know about work is being redefined

The opportunity ahead is to allow the digital worker and the future of work to serve as a platform for innovation and business transformation – enabling higher levels of engagement, passion, creativity, and productivity. Here are 6 main areas where the future of work and digital workers are key to business success in the digital economy:

1. Leadership involves everyone

In a workplace marked by instability and decreasing security, leadership is increasingly focused on building cohesive and well-functioning teams by tapping into a demographically diverse pool of often short-term employees or contractors. As digital workers are mindfully incorporated into this continuously changing workplace, management must juggle a distributed workforce that requires real-time analysis, prognosis, and decision-making. At the same time, they must develop the next generation of leaders who will actively take responsibility for innovation and engagement.

2. Engagement and the ability to make an impact

While 38% of millennials in developed markets still aspire to become leaders within their organization, the opportunity to take on personally meaningful work drives productivity and success. In fact, 53% of millennials would work harder if their organization actively made a difference to others. Thanks to the rise of the digital worker, new levels of transparency, and the ability to instantly measure the outcome of assets, tactics, and strategies, Generation Z has the potential to realize personal goals and improve engagement across the board.

3. Benefiting from technology means being more human

The importance of real engagement is not limited to employees; it also applies to interactions with vendors, partners, and customers. The rise of the social enterprise is a great example of how companies are starting to use technology to enable collaboration with employees, partners, and vendors. All the while, these same businesses are incorporating customer feedback into a single platform to increase customer satisfaction, business insight, and employee retention.

4. Workplace simplicity drives productivity

According to the Economist Intelligence Unit, 55% of executives believe that their organizational structure is extremely or very complex – even to the point where their profits are negatively impacted. Even more astonishing is the loss of 45 minutes of productive time per day for U.S. executives.

To reduce complexity and increase productivity, management must drive a culture of collaboration and clearly measurable outcomes. And if done properly, the reward is significant: 76% of executives cite that if they could cut complexity down by half, their company would be at least 11% more productive overall – a massive improvement that any company could use.

5. A new workforce in a new job market

Both millennials and Generation Z are facing a new environment where job security is a thing of the past. This high-risk reality, combined with the desire for more work/life flexibility and control as well as job satisfaction, has driven the freelance economy to new heights – soaring as high as 45% of the workforce by 2017.

Companies need to reconfigure and adjust their physical locations to adapt to an ever-changing, digital workforce that is engaged in multiple projects for potentially various employers, located anywhere in the world, and comfortable with a virtual work style. To answer the needs of this growing segment of workers, organizations must quickly ramp up employees on any given project, enable collaboration, and foster team spirit for very diverse teams.

6. Leading in the future means a new perspective on learning

With a much more distributed and highly contingent digital workforce, managerial requirements are finding new ways to create cohesive, innovative, and well-functioning teams. However, team building is not the only focus – it’s also about delivering a comprehensive approach to reducing complexity, leading by example, and training the next generation of managers to be true leaders in the digital economy. For employees and freelancers alike, the digital economy creates an opportunity for providing continuous learning that is more active and self-directed.

The future of work is the future of the enterprise

Because the rise of the digital worker dramatically impacts the way we work, learn, hire, retain, manage, and make decisions, the future of work is intrinsically linked to the future of the enterprise. It transforms the way we deal with customers, vendors, employees, partners, and competitors.

By connecting the four areas of digital disruption (workforce, suppliers, assets, and customers), the digital core becomes the platform for future business innovation. Fluid, nimble, real-time digital business – this is the future of work.

 

**Taken From SAP’s Digitalist Magazine, Authored by Michael Rander**


Connections With Ashley: Marketing Best Practices for the New Year

Ashley Harvey | Marketing Manager | Zerion360

One of the reasons I personally love the field of marketing is that it is ever changing. Especially for small business. Marketing in 2014 will continue to shift in response to big data, technology, and how consumers respond to content and branding. I’ve compiled a list of the key elements that I believe are going to be big players for marketing in the new year.

Content: Content marketing has moved into center stage over the last few years. The focus here is on producing relevant and enticing content to drive traffic and sales. When it comes to shopping for services or products – clients are doing most of the research themselves. Which means that the majority of the buying decision is already completed before most potential customers even speak to someone in sales. Producing engaging content that not only gives potential clients information, but also builds a conversation is key.

Big data:  Another buzzword in marketing – big data is shaping the way marketers target their audience. Utilizing big data allows companies to specifically target customers as well as improve the overall customer experience. Big data analytics are already worked into many programs from Google, Facebook, and more. Even your own sales transactions can be converted into usable data. Being able to gain insights into your target market, and being able to specifically reach out to them is a marketing game changer.

Focus on customer: Customer experience is everything. Really. In this digital age of being able to communicate without actually verbally speaking to anyone – consumers actually value the experience. In B2B marketing – more and more consumers place a high amount of weight on the trustworthiness and service aspect of a company. You want to make sure your marketing department is focused on building your brand in such a way that it tells stories and evokes certain feelings. What story is your brand telling right now? If you want to refocus your brand and make it more customer oriented, here are some tips: Ask people for their first impressions in regards to your brand and what it conveys to them. Stay away from overused jargon and superlatives – they make you appear superfluous and altogether not very stand-up. Focus on developing relationship and not just sales.

Don’t market to a wall: Your team can come up with creative and awesome marketing strategies – but they won’t work if no one is listening. You first need to define your target market. Get specific. Who are they, what do they do, what sector do they work in, what are their needs. Then define where they are – what events and conferences are they attending, what information and help are they seeking, what mediums are they reading (i.e. Business Journal). When you have a specific idea of who you are targeting, reaching out to them will get a whole lot easier. Making sure your marketing voice gets heard also applies to the network you already have in place. Marketing initiatives often will prove cumbersome unless you already have a network in place to stand on. You can be developing interesting and relevant content on your blog – but if you’re not getting readers or feedback, your blog is not adequately doing what it should be doing. Look at those closest in your network – invite them to join in on the conversation or see if they would be willing to share blog posts that they find interesting. Invite others via social media or when at events to join in the conversation as well.

 

There’s are some of my marketing best practices for 2014 – what marketing tactics will your company focus on this year?


Where Will Banks Spend Money in 2012? On Mobile and Big Data

Two important and broad technology trends for 2012 are mobile and big data. Each opens a new door to run your business differently—both internally or externally with customers. Each is a platform for new innovative applications that help banks reach new customers while reducing operating costs. And each is a focal point and offers specific applications for retail, commercial, and investment banking segments.

Let’s take each in turn

Mobile Technology

Mobile is driving innovations in a bank’s consumer, business, and process areas. Although, mobile security is still an issue that banks must address carefully. However, the business value afforded by these new applications can transform a bank and its customer relationships.

In the consumer area, we’re seeing three broad mobility trends:
•Mobile apps to access bank accounts on the go–both for consumers and B-to-B customers (such as treasury and financial advice), as well as internal personal productivity inside the bank to process expenses and holiday approvals, etc.
•Location-specific applications that know where customers are and deliver up more targeted offers, promotions, and alerts
•Mobile payment and wallet applications that link location offers with one-click contactless payment for a breakthrough customer experience

Big Data Technology

Big data is driven by the combination of low-cost in-memory technology, the explosion of social data, the need for immediate customer insights, and trading or market behaviour. Banks can now look beyond aggregated data and mine row-level data for the hidden gems that drive better customer insights, risk management, and a real-time view of bank performance. This is driving new applications areas, such as:
•Social financial management, where banks can mine data and use social media behaviours and customer sentiment analysis to communicate directly with their customers or link with mobile platforms to send location-specific offers at point of sale or payment
•Real-time computational risk and finance for completing both calculation and data analysis all in-memory.

Removing disk latency and being able to recalculate in–memory and on-the-fly huge complex scenarios will drive new applications and investments in stress test , liquidity, credit risk, and numerous investment banking scenarios . This, in turn, will propel differentiation and faster reaction to market events and provide the edge many banks want in managing information for business value. It also gives regulators comfort that automated data and calculation processes, along with real time architecture, may reduce systematic risk as banks can more clearly and quickly ascertain their positions.

These are just two of the trends for 2012. What do you see driving the technology spend in 2012?