5 Aspects That Can Make-or-Break Indian Enterprise
In a world where every aspect of life is increasingly data driven, people are hungry for more and more digital devices, impacting their work style and lifestyle. While this is a boon in many ways, it is also posing a challenge for businesses keeping pace with the current ‘information generation.’
A study conducted among 3,600 CXO across 18 countries by Institute for The Future and Vanson Bourne on behalf of EMC identifies five business attributes that have the power to make-or-break businesses, and they are:
1. Predictively spot new opportunities in markets
2. Demonstrate transparency and trust
3. Innovate in agile ways
4. Deliver unique and personalized experiences
5. Operate in real time
This study further reveals that by 2020 more than seven billion people on at least 30 billion devices will have created 44 zettabytes of data, which suggests that we are heading to the world in which nearly every element of life will be data-driven.
The study brings to focus some interesting facts on Indian businesses, where 86% of Indian CXOs think they are aware of the importance of finding new opportunities to get ready for the ‘Information Generation’ and nearly 60% said the need to innovate in an agile way as the top priority, just after China.
The research however shows wide gap in the number of organizations practising it in their day to day lives. For example, while a whopping 79% of Indian organizations understand the importance of delivering a unique and personalized experience organization wide while only 36% of business leaders say their organization can act in real time, and a further significant portion (48%) say they can do so, but not always with the insights that they need. To overcome this problem, Indian organizations should continually redefine their ways of doing business.
Rajesh Janey, President, India & SAARC, EMC states, “The Information Generation is changing the dynamics of the environment in which organizations operate today as they increasingly face the demand for more. The new generation of businesses especially the ones ‘born of the cloud’ are driving this change in expectations, thereby making it critical for businesses to redefine themselves in order to adapt and remain relevant.
While 76% of businesses in India think that SMAC has changed consumer expectations, it becomes critical that they systematically explore the longer-term implications of an age in which information is at the centre of everything we do.”
Janey states, to achieve this, businesses will need to continually re-condition themselves in ways that are yet to be imagined. Organizations who are information-savvy can lead one of the most significant transformations in history provided they ready themselves now,” said Rajesh, President, India & SAARC, EMC.
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