INFOGRAPHIC: Using digital tools to unlcok HR's true potential.
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WHY IT MATTERS: Digital Transformation
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Farid Mheir
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Behind the uptick in e-commerce is a little known secret: As much as a third of all Internet sales gets returned, in part because of easy policies on free shipping. Retailers are trying some new tactics to address the problem.
Farid Mheir's insight:
Very interesting insight from WSJ, the 33% figure appears to be very high and probably only applies to certain retailers or industries - apparel is the one feature in the article. One interesting figure from the article says "Rue La La said dealing with returns cost the company $5 million last year", which stresses the importance of the "transformation" component in your digital transformation plan. In fact, things like returns may come and bite you in the rear if they are not planned for and addressed properly early on. Poster child for this was Zappos (now Amazon) that built returns as part of the normal ordering process, making certain that returns were fast, easy and profitable. This was an essential component of the digital transformation because buying shoes online has a very negative aspect for the customer compared to in-store: they can't try the shoes before they buy. So Zappos *had* to make return a part of its process. Any digital transformation carries similar issues that must be accounted for early in the plan to make sure they do not kill your digital business model.
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Farid Mheir's insight:
Just sat through a good webinar presentation on ransomware cryptoblocker. It opened my eyes to this new trend of hacking into computers, encrypting files and then asking money to recuperate them. You have 36 hours to pay 300$ for the priviledge to recuperate your files. Ouch! Waiting longer can cost you even more - up to 8000$ is reported. It appears to be a growing form of malware as reported in this report by Dark Reading (be careful, dark reading is part of Sophos which has written the report and, of course, has software to help block ransomware). This attack is targetted at individuals as well as corporations. This link points to a security threat report which summarizes where we are at in terms of security concerns, and what's on the horizon. As we move towards digital everything, security and protection against threats has to become even more of a priority for corporations. It should be baked into projects and solution from the get go. Replay of the webinar Smarter, Shadier, Stealthier Malware: The Latest on Today’s Threats
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Cyber threats are now a critical issue affecting the national security of nation countries worldwide.
Farid Mheir's insight:
A great very technical review of the solution, services and players in the cloud security market.
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Experts think it’s inevitable that sales of many non-perishable grocery categories will eventually take place online. Retailers need to meet that demand, but also the creative challenge of what to do with the space that it will open up in stores. Thom Blischok of Booz & Co. shared his ideas about “Tomorrow’s Trends Delivered Today: Store Design Trends — The Path to 2025” at a recent Food Marketing Institute conference, and then in an interview for this section. Today, 80% of the store is in merchandise, while 20% is accounted for by services, he said. Meanwhile 75% of capital investment dollars go to the store perimeter, while 15% is spent on center store, and 10% goes to the front of the store. “Recognizing that there is a movement to the Internet, becoming world-class at what you do on the perimeter and with services is critical,” Blischok said in an interview after he presented his concepts at the recent Food Marketing Institute Energy & Store Development Conference in Baltimore. Future store designs will have to account for certain center store categories moving online, which will result in much more available space in the store; decisions will have to be made about what to do with that space.
Farid Mheir's insight:
I am a technology expert, not a retailer or a store designer. I've posted blog posts regarding this trend for a while now and find this article to provide some of the background information to indicate that store designs are changing as some of the purchase for commodity items move to online. Retailers must thus act to prepare for this.
See also
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Apple is putting all the pieces together to disrupt mobile payment. Apple unveiled the first large-scale integration of iBeacon, a technology that, when coupled with their fingerprint identification system, may be another building block in building a revolutionary new payment system.
Farid Mheir's insight:
iBeacon technology form Apple is being touted as a way to push localized advertisement. While this is true, payment may actually be the end goal and the most profound disruption. The post rightfully mentions that Apple and Amazon both have on file half a billion credit cards, which would make them very seamless solutions for wallet replacement. All retailers should now consider in their plans ways to support alternate forms of payments, especially ones tied to iPhones and iPads.
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With tech jobs on the rise, these 10 programming languages are essential for aspiring developers.
Farid Mheir's insight:
Ned to learn to program - even if not as a job but only to understand how computers, phones, cars, etc. work - is definately worth it.
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Anticipate Customer Needs In some locations, the home goods retailers set up pop-up stores on or near select college campuses. It also created a “Shop Here, Pick Up There” option, allowing students to choose what they wanted at a store close to home and pick up the packages at the location nearest their campus. Online, BB&B offered checklists and informational videos as well as a shopping option that allowed customers to choose the ship date. It was a smart strategy that paid off well. While NRF anticipated that back-to-college shopping would be down year-to-year in 2013, Bed Bath & Beyond closed out its second quarter ending August 31 with a 3.7 percent increase in same-store sales.
Farid Mheir's insight:
20 different examples of companies that have leverage digital to transform the way they do business. Nothing earth shatering always good to have examples in mind when trying to convince a executive... ;-)
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For the world’s economy to get full value from technological innovation, it must have a robust, coordinated approach to cybersecurity. A new report from the World Economic Forum and McKinsey & Company looks at how that could happen.
Farid Mheir's insight:
The report provides a comprehensive 14 elements framework to guide the collaboration required to make corporations more cyber-resilient. In our world of 100M credit card stolen at Target and large-scale NSA spying activities, McKinsey suggests that this now become a priority on the CEO agenda. I argue when looking at the framework that many of the Enterprise Architecture tools and practices can be leveraged successfully to implement the framework. Moreover, as digital transformations become common place, the security aspects must be integrated from the get-go.
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Corporate use of social technologies is mainstream, though the pace of adoption has slowed. But companies can still take advantage of the untapped potential these tools have to transform their organizations and create significant value. A vast majority of respondents continue to cite business benefits,2 and the mix of enterprises where executives report higher-than-average benefits is consistent with last year. One-fifth of companies qualify as fully networked organizations (Exhibit 2), those reaping the highest improvements in benefits from their technology use with internal and external stakeholders,3 while the share seeing outsize benefits from internal company use (12 percent) remains small.4 Again, given the large amount of value that social technologies could create through internal use, there is significant room here for companies to grow.
Farid Mheir's insight:
I've followed this survey since its inception in 2008 and I'VE always found it a great tool to convince executives of the business benefits - measurable - that social and collaboration bring to enterprises (termed enterprise 2.0). But now this one shows a slow down in the rate of adoption, which does not bode well for those yet in the undecided camp. Unfortunately, not networking your employees means you do not benefits from reduction in travel cost, reductions in communication costs, faster product development time-to-market and increased access to knowledge (to name only the most important benefits). More dangerous, the other half - your competitors - will benefit from them and thus you'll face increased competition for which you'll be ill equipped to handle. See also:
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Amazon was granted a patent for what it calls “anticipatory shipping,” a method to start delivering packages even before customers have clicked “buy.”
Farid Mheir's insight:
Retailers have been doing forecasting for a long time, predicting from previous sales and market conditions (and their best judgement), what to order for each one of their stores. When you have hundreds of stores, this is not a simple tasks, and it often requires years of experience - if you want to do it well. Because forecasting errors are very costly, resulting in lost sales or products that stay on shelves or racks and must be transferred to others stores, or worse, discounted at the end of the season. I've worked on systems - from simple excel spreadsheets to more complex applications - that automate the predictive aspect and provide tools to facilitate the forecasting process. But never were the tools using invidual client profiles to make the prediction. They always used global store-level or regional sales numbers. So, at least in theory, established retailers can have a leg up. But Amazon may (again) shock retailers into a digital transformation, bringing their individual client sales data into account when doing the forecast. This will require retailers to include individual customer transactions and possibly their "wish lists" and online search information, to include in your forecasts. Data is there but few reatilers have the systems or the integration to bring this data in a timely manner to the "forecasting team" desk. Amazon has been doing this with "replesnishment" options where they send you products on a regular schedule, so you don't have to "shop" for them: they come at your door at a predefined interval you control. And they give you rebates for sticking to your schedude (predictability is invaluable in a supply chain!). If you do, then your forecast will undeniably be better. If you don't companies like amazon, with lower overhead, will send your clients products before they even consider going to store to see what's on the shelves!
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Capgemini Consulting's digital transformation business journal looks at the digitization of operations, taking in robotics, 3D printing, and the second machine
Farid Mheir's insight:
Always must read from Capgemini.
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The pace of technology-fueled business innovation is accelerating, and enterprise architects can take a leading role by helping their firms identify opportunities for shrewd investment.
Farid Mheir's insight:
still relevant insight in 2014.
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Dropbox is one of the top cloud storage providers available. Many users are drawn to the app because of the easy interface and seamless integration into the Windows infrastructure. A simple drag-and-drop and any file can be instantly transferred to any computer anywhere in the world. But Dropbox is so much more than just a simple file-sharing device. In this article, we will take an in-depth look at some of the top Dropbox tips and tricks we could find.
Farid Mheir's insight:
More often than not, dropbox is the preferred cloud document storage provider. Given the recent 250M$ investment, they will become even more important as a digital solution. I thought this post provides a very useful summary o fdropbox features.
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Venture capitalists are willing to fund a new generation of online grocery shopping startups
Farid Mheir's insight:
1998 all over again?
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![This is [Modern] Retail #infographics via @nrf | WHY IT MATTERS: Digital Transformation | Scoop.it](https://img.scoop.it/pel6y1kaO4ZUtHJKyZ09qnkes5yE2Br8B0LnubnjJ88=)
Pin it, scan it or share it - operating in a digital world has become second nature for most shoppers today, and retailers are taking full advantage of it.
Farid Mheir's insight:
3M twitter followers for WholeFoods!
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Intelligent processes, enabled by digital technology, create a virtuous cycle of constant improvement fed by continuous feedback. And they are set to soon reinvent much of the way that businesses are run.
Farid Mheir's insight:
The article conclusions are very important to consider in all change management activities of a digital transformation. We must ensure that resources are comfortable with a new way to do things that may require skills they do not possess and that may clash with the way they have been brought to consider "knowledge work".
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The Psychology of Online Checkout [Infographic] - infographic Checkout
Farid Mheir's insight:
Many other very useful insights in this infographics.
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Everything you need to kickstart your mobile recruiting strategy
Farid Mheir's insight:
Recruiting digital transformation is being forced by candidates, with the HR professionals largely staying behind and holding on to old ways. One read that may help provide data that candidates are going in another direction.
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Economic conditions could invalidate Moore’s law after decades as the semiconductor industry’s innovation touchstone. The impact on chipmakers and others could be dramatic. A McKinsey & Company article.
Farid Mheir's insight:
In a classic, well documented and diagrammed article, McKinsey provides some early warning signs that Moore's law may not hold for many years. Unless technology improvements carry it beyond 2020. Not a digital transformation paper per se but very powerful insight for those that believe improvements will trail after 2020. The microelectronics engineer in me loves this one!
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With disruptive factors affecting banks from all sides and new business models emerging, banks should plan for the future now by taking three strategic steps.
Farid Mheir's insight:
Presents a convincing case for investing in digital and viewing bank morph into many new models in the year 2020.
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Technology trends impacting the retail industry—the digital consumer is in the driver’s seat and the technology retailers implement today is instrumental.
Farid Mheir's insight:
Major trends in retail technology are illustrated with plausible scenarios and a roadmap. Useful reading with an executive.
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KPMG's Global Head of Retail Mark Larson shares 5 areas retailers should focus on to build a more customer-focused, omnichannel organization.
Farid Mheir's insight:
Useful insights especially #4 : enhance both online and in-store.
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Canadians may be the heaviest Internet users in the world but our homegrown online retailers have yet to catch up to the performance of U.S.
Farid Mheir's insight:
No surprise here. Our own Quebec CEFRIO stated the same back in november. But this report is very detailed and provides some interesting insights. Also see New CEFRIO survey results- Quebec retailers continue to leave 75% of eCommerce retail $ to others #iceq http://sco.lt/58m2wD
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Curated by Farid Mheir
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Infographics that summarizes the discrepency between what the market wants and needs - job seekers, employees - and what the talent professionals do, how they do it and with what they do it. I agree with Capgemini that HR still lags in its techniques, its communications and its technologies (even though the infographics is a bit light on details and the recommendations feel a bit generic)
Case in point. Most organizations still rely on job postings and physical interviews to source candidates and assess their expertise. Few if any have moved the sourcing into social networks, leveraging the LinkedIn and Facebook networks of their employees (who better to know a good engineer than your existing employees in the engineering department - after all they probably went to school with most of them!) to identify the most promising candidates, getting recommendations from people that know them and trust them, then calling them up for a video interview.
In this "Sourcing 2.0" scenario" no resume changes hand before a candidate has been vetted by its peers, thus reducing the number of interviews and increasing the quality of candidates that are being interviewed. Moreover this provides HR teams with access to "passive candidates", ie. those guys and girls that have a job right now and may need just the right kind of push to switch to a new job, employer or position...