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Strategic use of IT/IT innovation (improvements / create value (Value…
Strategic use of IT/IT innovation
Digital Strategy
How information is used as part of systems and how technologies can enable this
improvements / create value
Effective
Sell more / cure more
Efficient
use less resources / time / materials / energy
Value drivers
Enhance the value of a product or a service to customers
create value for the company
Business / IT Allignment
Business strategy and IT strategy need to be alligned
Business and IT managers need to be in regular communication
CIO Chief Information officer
CTO Chief technical officer
CDO Chief data officer
CXO Chief experience officer
Challenges and opportunities
Why invest in new technologies?
Opportunities
Don't want to be left behind
New business models
Current applications and infrastructure don't support or constrain business objectives
Lack of application integration
Inaccurate or inadequate information to run the business
Digital capabiliteis
Access to information
Analysis of data
Communication between people / processes
Automation
Strategic use of technology examples
Cloud computing
Improves efficiency through saving resources (people, energy, equipment)
Allows for more scalabilty / innovation
Allows for experimentation
Internet of things (IOT)
Sensors can be used to monitor equipment allowing, for example, predictive maintenance, allowing for better service and greater uptime
Big Data
Can be used to find out more about customers
Allow more targeted advertising / services
Provide personally catered experience (eg recommendations of ecommerce sites based off of visited sites and search terms)
Profiling to improve accuracy of (for example) insurance policies
Considerations
Information
Data ownership
Information life cycle
Information and data quality
Information architecture
Legal, ethical and security issues
Technical
Service quality / IT Governance
Technology infrastructure applications development
Knowledge
Communications strategy
Online learning
Document management
Where can technology add value
Inwards (Business to employee)
focus on improving business or organisational processes
Make processes more efficient (eg slack over email for communication)
Make processes more effective (accuracy increased if production replaced with machinery over human , reducing errors)
Improving business processes
Duration analysis
Time taken to perform each step in the business process and total time
Activity based costing
cost of each step (labour , materials)
Information benchmarking
compare to others
Outwards (Business to customer)
Using IT to gain a competitive advantage
provide new products or services
provide old products in a new way
Find out more about customers to offer them a better service / sell them more
Across (Business to business)
Linking to supplier's customers and other parties in one's value chain and business ecosystem, virtual corporations
Supply chain analytics