Lax firms risk succumbing to fourth industrial revolution

 

digital economyJOHANNESBURG – THE way companies across all sectors exploit and analyse their data can make or break them amid cutthroat competition fostered by modern information and communications technologies (ICT).

These modern ICTs determine if companies can disrupt or are disrupted.

This has been the prevailing sentiment by experts at the just-concluded customer experience-led digital transformation event SAS, the analytics, business intelligence and data management firm held in Johannesburg, South Africa.

“Evolution has been disrupting forever,” said Brett StClair, Ex Google Digital Transformation Evangelist.

“Disruption is happening faster and faster as products are increasingly becoming services,” he said.

The technology expert urged industries to try and embrace new technologies, work differently and “Think Big” as well as aim to get more from their data.

Tony Mooney, Digital Transformation consultant and former Managing Director: Insights and Decision Science at Sky United Kingdom, highlighted the major drawback for companies in the Fourth Industrial Revolution.

“Organisations confuse methodology and do not understand the difference between analysis and analytics,” Mooney said.

Mooney spoke about the emergence of such roles as data wizard, data engineer and data scientist in some oranisatiosn, driven by the Fourth
Industrial Revolution.

Simon Marland, Nedbank’s Head of Department: Retail Business Intelligence Solutions concurred.

“Things have changed over the last 15 years,” said Marland, the executive at one of South Africa’s biggest banks.

“Sources and speed of data have grown exponentially during the period,” he added.

Thought-leaders and SAS experts will meet again in Johannesburg on Thursday to discuss topics including the path to artificial intelligence and machine learning, how AI will improve customer experience and how innovation through analytics is possible.

SAS is previously known as Statistical Analysis System.
– CAJ News

 
 
 

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