The Wide Shot: No More Black Swans
So here’s the deal: The world is changing. Bigtime.
Forget black swans only appearing once upon a blue moon. Those suckers are out flying in formation just looking to create the next wave of trouble.
Right before I left Austin, I downloaded Andrew Ross Sorkin’s new book on the financial crisis, Too Big to Fail.
I started reading it on the plane ride, and leading into the Information on Demand event, I’ve been thinking a lot about the financial crisis.
Why it happened? How it happened? How we can prevent another one from happening again anytime soon?
And I don’t mean by hiding all our collective money in a mattress. That would have to be one big honkin’ mattress.
Yeah, the financial crisis was definitely a whole buncha bad news.
Now it’s time for some good news: The world is becoming increasingly instrumented, interconnected, and intelligent. This we know…just look around.
Though there is, as a result of this, an explosion of information, this increased interconnectedness is also creating an opportunity for a new kind of intelligence on an increasingly smarter planet.
But as a result of the tremendous growth in information, organizations are also operating with significant blind spots and are trapped within application-bound silos. The stovepipe syndrome.
Intelligent organizations, however, are looking to use the wealth of information and analytics for better, faster decisions and actions, optimized processes, and more predictable outcomes.
Let’s call this business optimization.
The opportunity for organizations around the globe, then, is for CEOs and other business leaders, as well as those in public enterprises, to create sustainable competitive advantage by optimizing all parts of their business.
To do so, they need a business analytics and optimization strategy (here comes the new acronym…are you ready yet? It’s easy: Give me a B….Give me an “A”…Give me an “O”…what does it spell? “BAO”?!)
That’s right. Forward thinking organizations are implementing an information-led transformation (ILT) to achieve the next generation of efficiencies by applying analytics to optimize decisions at every contact point.
CIOs, and other IT leaders, also play a key role.
As partners to LOB and public sector execs, they are charged with creating an information agenda that supports the business and operational strategy; builds and maintains a flexible platform for trusted information; and helps the organization apply business analytics to optimize decisions.
Organizations need to pursue an…here’s that fancy new phrase again…information-led transformation…to support the business.
Hey, we’re from IBM headquarters, and we’re here to help.
Well, we won’t be hiring any black swans anytime soon, that much I can tell you.
No, that’s exactly what we’re going to be talking about at the event over the next several days: How IBM can help its clients identify their greatest opportunities, as well as their greatest exposures to risk, and then develop and execute a strategy to optimize all types of decisions, leveraging the ability to capture, organize, process, and contextualize enterprise information.
Our clients can take this on in any variety of ways, from the tactical to the strategic, to get immediate value, including by:
- Focusing on a foundational information need such as single view of the customer, or a full information agenda, addressing information strategy, roadmap, infrastructure and governance
- Applying analytics to optimize a specific business objective such as customer retention, or a broader need such as enterprise risk management; or
- Solving a single information platform need such as a cost-effective archiving strategy, or a broader need such as a flexible enterprise information architecture
Or, you can stay in your stovepipes and watch your information…and probably your business…stagnate.
But what do I know, it’s Saturday night in Vegas and I’m blogging about how you need to start better using your information for insight when I ought to be out trying to get myself arrested somewhere along the Vegas strip!