TICH maps the data-driven business model from the company’s current state. The characteristics identified cross organizationally are people, training, and technology.
A benefit of this new business model is that the skills needed to implement the model are exactly the skills needed to navigate a data driven business model for long-term success.
People, specifically employees, are the number one asset in this new business model. Collaboration along channels proliferates as people work together to solve real-time problems witnessed in the digital data visualized in metrics, reporting, patterns, and anomalies.
A blending of all things into cyber physical systems require all people to have a strong technology toolkit. This handy set includes an understanding of data analytics, data science, coding, security, governance, and artificial intelligence.
Start training your employees today. Soon is not soon enough. The rapid expansion of Fintech and Regtech is a clear indication of the proliferation of acceptance of automation. A strong technology toolkit is necessary by all employees. This handy set includes an understanding of data analytics, data science, coding, security, governance, and artificial intelligence.
Companies provide life-long learning to its employees. The speed of business is real-time 24/7. Every employee's career mapping includes life-long learning, to ingest the constant change.
Technology is an ever-changing dynamic of companies today. Employees must accept applications and other technology changing constantly. The framework, to operate in this condition, is empowered employees within the digital platform. Strong governance highlighting privacy, standardization, and ethics especially in regards to artificial intelligence.
A mature technology center of excellence (CoE) is recommended for a data driven business model. Additionally, cross functional responsibilities exist for the CoE as all employees’ technology repertoire grows.