Embracing the power of data to thrive post-pandemic
An ever-present technological divide was brought to the fore in the past year, as the Covid-19 pandemic sent companies reeling.
“There will be some losers. But people who are embracing the power of technology and data to inform their decision making are probably going to be the winners,” said Marco Mormone, co-founder and partner at Arca Blanca, interviewed for the HLB Survey of Business Leaders 2021.
A Priority Weakness
However, investments in data and technology remain a ‘work in progress’ for many leaders. 35% of those surveyed viewed their business’ digital capabilities as a priority weakness.
COVID-19 spurred new tech investments, steering optimism around the abilities of ‘digital’ to solve an array of operational issues, the report said.
A forced uptake of several digital initiatives has meant that almost all industries took leaps forward last year. But a reluctance to explore new technologies will create a gap between those willing to adopt cutting-edge technologies and the laggards.
“Legacy businesses are going to be heavily challenged. If you are launching with a new business, or you are an agile organisation that can quickly adapt to a new way of working, this is the time to thrive.”
A preparedness for disruption and willingness to evolve can pay dividends in challenging times.
Adapt and Overcome
The report found that 42% of business leaders expressed intent to invest in cloud computing, in the hopes of “lowering costs, increasing productivity and enabling access to business model transformation and new customer value propositions”.
Arca Blanca has been able to help many organisations adapt and emerge more resilient in these challenging times. From producing dynamic strategy tools and informing post-Covid-19 investments to rapidly building new operating models for novel Covid-19 dedicated products and services.
Leveraging the use of machine learning and artificial intelligence has allowed innovation to spread throughout companies.
“Data science can help a lot with predictive analytics, with machine learning and big data computing to help make more informed decisions,” Mormone said.
The 2008 financial crisis is credited with prompting a pivot in the operating model for Starbucks. That digital transformation increased the company’s resilience more than a decade later. What will be remembered as an extremely difficult year year of crisis presents itself as a catalyst for transformation.
For most businesses, once optional investments made in digital technologies have proven essential. Arca Blanca’s core proposition to help organisations navigate uncertainty is more relevant than ever.
About Arca Blanca
Arca Blanca is an integrated consulting and data company, resolving complex growth and profitability challenges. We help businesses of all types thrive in the face of the unprecedented change and upheaval driven by new technologies.
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