TICH maps the data-driven business model to the company’s as is state. These characteristics are identified cross organizational by people, training, and technology. The model is specifically created based on the strengths, weaknesses, opportunities, and threats of the company.
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 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 must anticipate providing life-long learning to its employees. The speed of business is real-time 24/7. Every employee needs a career mapping that includes life-long learning, to ingest the constant change
Technology is an ever-changing dynamic of companies today. Companies must get accustomed to applications and other technology changing constantly. The framework, to operate in these conditions, is governance highlighting privacy, standardization, and ethics regarding artificial intelligence.
A mature technology center of excellence (CoE) is needed for a data driven business model. Additionally, cross functional responsibilities exist for the CoE as all employees’ technology repertoire grows.