“Data is the lifeblood of ... digital transformation,” declares Liran Zvibel, Cofounder and CEO of WEKA.[1] The data, however, can’t be “run-of-the-mill.” According to Zvibel, the best type of digital transformation requires that data runs in a highly efficient manner. That means data must be constantly enriched to remain fresh and healthy. With various technologies, such as generative AI, now playing a role in the digital transformation process and providing information in the workplace, the quality and continual enrichment of data on which it trains is enormously important — that’s how a digital transformation can move at market speed. “Your data and its underlying foundations are the determining factors to what’s possible with generative AI,” write McKinsey & Company analysts Joe Caserta, Holger Harreis, Kayvaun Rowshankish, Nikhil Srinidhi, and Asin Tavakoli.[2] However, it would be a mistake to think that generative AI and quality data are the only factors that ensure a smooth transition in the ongoing process of a company’s digital transformation. There are other considerations, three of which are human talent, cognitive computing, and change management. Furthermore, human talent, cognitive computing, and change management shouldn’t be afterthoughts but critical factors for digital transformation success. As Caserta and his McKinsey colleagues note, “Focus on finding the handful of people who are critical to implementing your data program, with a shift toward more data engineers and fewer data scientists.”
Digital Transformation, Gaining a Competitive Edge, and Cognitive Computing
Many companies, regardless of what sector they operate in, recognize the necessity of undergoing digital transformation to gain a competitive advantage. But, according to a recent McKinsey study, it is a battle to achieve that competitive edge. McKinsey researchers found that "while 90 percent of companies have launched some flavor of digital transformation, only a third of the expected revenue benefits, on average, have been realized."[3] Furthermore, many of them focus too heavily on data and implementing the newest technologies before doing their homework. According to the McKinsey researchers, three initial steps should be taken. First, carefully consider what already exists in terms of the right talent in the company. Second, understand how existing technologies can be built upon (or repurposed). Finally, implement sound change management practices. The importance of change management practices is often overlooked and that can be a near-fatal mistake.
How the Enterra System of Intelligence Augments Human Talent
As alluded to earlier, successful digital transformation requires companies to keep their data enriched and healthy. At the same time, companies are able to hire and retain talented individuals who can easily leverage cutting edge AI solutions, like the Enterra System of Intelligence™, to ensure all technologies, including generative AI, are smoothly, correctly, and efficiently applied. The infographic below depicts how the System of Intelligence helps companies take a more holistic approach to digital transformation.
The Enterra System of Intelligence has revolutionized the way our clients do business. It has helped address the multitude of pain points that they encounter when dealing with their systems of record during the process of digital transformation. This unique system allows our clients to quantitatively unearth and logically understand the inter-relationships that lead to heightened consumer understanding and hyper-personalized product recommendations. As shown above, this System of Intelligence is a combination of three applications: the Enterra Consumer Insights Intelligence System™, the Enterra Revenue Growth Intelligence System™ (ERGIS™), and the Enterra Supply Chain & Demand Intelligence System™. Clients can also opt for the Enterra Business WarGaming™, which orchestrates and sends instructions to cross-enterprise business applications. The wargaming option supercharges the entire ecosystem, enhancing insights into all corporate processes. All these systems rest upon the Enterra Autonomous Decision Science™ (ADS®) & Generative AI platform, which builds on the client company’s systems of record. Those systems should provide clean, healthy, and enriched data that feeds into Enterra’s system, transforming business operations into an autonomous intelligent enterprise.
Concluding Thoughts
With digital transformation being an ongoing imperative for companies, cognitive solutions, like the Enterra System of Intelligence, is critical for augmenting corporate talent and providing them a tool upon which they can trust and rely upon. Digital transformation also requires a close analysis of the systems of record, which obviously includes the company’s data. Human talent is crucial in determining next steps, but the Enterra System of Intelligence does the heavy lifting, freeing up personnel to make even more precise judgments at the speed of the market, allowing them to make better decisions in volatile situations. Combine that with Enterra Business WarGaming capabilities and client organizations are better positioned to leverage their data and make the best strategic decisions. By understanding current trends and anticipating the moves of their competitors, companies can explore numerous scenarios and pursue strategies to beat the competition, mitigate risk, navigate uncertainty, and maximize market opportunity. As mentioned in the beginning, solid human resources, along with cognitive computing and appropriate change management practices, make all these things possible. Without a team of talented individuals, augmented by solutions like the Enterra System of Intelligence, effective digital transformation is not possible. While we’re now “in the future” with generative AI and other forms of advanced technologies, it would be foolish to believe we no longer need human talent and ingenuity.
Footnotes [1] Liran Zvibel, “Rise of the Data Platform: How AI Is Driving A Complete Rethink Of The Enterprise Data Stack,” Forbes, 11 October 2023. [2] Holger Harreis, Kayvaun Rowshankish, Nikhil Srinidhi, and Asin Tavakoli, “The data dividend: Fueling generative AI,” McKinsey Digital, 15 September 2023. [3] Eric Lamarre, Kate Smaje, and Rodney Zemmel, “Rewired to Outcompete,” McKinsey Quarterly, 20 June 2023.