WHY IT MATTERS: Digital Transformation
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The most important chart to understand why Amazon Has No Profits (And Why It Works) - and why retailers & governments should be investing massively into eCommerce infrastructure

The most important chart to understand why Amazon Has No Profits (And Why It Works) - and why retailers & governments should be investing massively into eCommerce infrastructure | WHY IT MATTERS: Digital Transformation | Scoop.it

Amazon’s business is delivering very rapid revenue growth but not accumulating any surplus cash or profits, because every penny of cash is being ploughed back into expanding the business further. But, this is not because any given business runs permanently at a loss - it is because the profits from what is already there are spent on making new businesses. In the past, that was mostly in operations, but in recent years the investment firehose has again been pointed at capex.

Farid Mheirs insight:

WHY IT MATTERS: this article dates back a few years but is very important to understand Amazon and why it is so disruptive to retail.

Amazon invests most of its profits into developing solutions and infrastructure (via CAPEX or capital expenditure) in order to CAPTURE FUTURE ECOMMERCE SALES as the world moves from physical retail to digital.

To compete, retailers must either 1) leverage Amazon infrastructure (via marketplace, FBA, AWS, etc.) 2) or, if they are big enough, invest massively their CAPEX to build competing infrastructure to Amazon. This is difficult because their shareholders are used to getting return on their investments (which CAPEX will reduce): that may need to change. Or get the customers to pay for it (ie. massive walmart investments in eCommerce that they have just passed over to their suppliers - effectively having customers pay for it).

To maintain economic prosperity, governments should also invest in building shared infrastructure: large automated distribution centers, parcel delivery (canada post, USPS, etc.), digital payment processing, digital IDs, etc. This new infrastructure will benefit local retailers and local manufacturers, effectively financing their eCommerce competitiveness and ensuring survival of the economic fabric of their city / region / province / country.

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The Marketplace Maturity Model by @McFadyenDigital

The Marketplace Maturity Model by @McFadyenDigital | WHY IT MATTERS: Digital Transformation | Scoop.it

The Marketplace Maturity Model SM (MMM) is an industry-first model for Ecommerce operators to providing a reliable guide for implementing or iterating an online marketplace.
The Maturity Model is comprised of 5 major stages, within each stage are actionable steps across advisory, technology, and business considerations. 

Farid Mheirs insight:

WHY IT MATTERS: looks like marketplaces have become a "thing" and merit their own maturity model. Given inherent complexity I guess this is warranted. Plus McFadyen are most experienced, they should know.

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The #Marketplace market is burning with new solutions and offerings to answer the need for #eCommerce consolidation: its location, location, location again! - check out the SuiteSpot Report from @m...

The #Marketplace market is burning with new solutions and offerings to answer the need for #eCommerce consolidation: its location, location, location again! - check out the SuiteSpot Report from @m... | WHY IT MATTERS: Digital Transformation | Scoop.it

The Marketplace Suite Spot report evaluates the top technologies businesses can use to create, launch, and grow an online marketplace property.

Farid Mheirs insight:

WHY IT MATTERS: marketplaces are the next step in eCommerce, as retailers realize that technology is not the issue anymore. Expect hundreds of marketplaces to show up on your radar in the coming years, further splitting the market in multiple zones. Retailers will have to revert back to the old maxim: location, location, location!

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#AR remains a marketing #gimmick with no real use case just yet as evidenced by this Amazon AR app promoted as a way to #reuse its boxes - in fact it just highlights the issues of over packaging, #...

#AR remains a marketing #gimmick with no real use case just yet as evidenced by this Amazon AR app promoted as a way to #reuse its boxes - in fact it just highlights the issues of over packaging, #... | WHY IT MATTERS: Digital Transformation | Scoop.it

Amazon has quietly launched a new augmented reality application that works with QR codes on the company’s shipping boxes to create “interactive, shareable” AR experiences. Called simply “Amazon Augmented Reality,” the retailer describes the app as a “fun way to reuse your Amazon boxes until you’re ready to drop them in the recycling bin.”

Farid Mheirs insight:

WHY IT MATTERS: 2 elements we can highlight from this announcement.

1- AR is often a marketing gimmick with no real purpose. Why would you download install and use this app? Same goes for most AR apps out there...

2- eCommerce has a major downside from a sustainability standpoint because of transport, returns, over packaging, plastics, etc. As volume grows this must be addressed. This AR app will not help in any way. Unfortunately...

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Speaking of #eCommerce returns: why not reuse, recycle, repair? Measuring the impact of circular economy via @BoardofInnovation

Speaking of #eCommerce returns: why not reuse, recycle, repair? Measuring the impact of circular economy via @BoardofInnovation | WHY IT MATTERS: Digital Transformation | Scoop.it

Learn what circular impact means and how you can measure it for your business! It's important to translate your strategy into tangible KPIs and measurable targets.

Farid Mheirs insight:

WHY IT MATTERS: a beautiful illustration of the circular economy and the multiple options to consider before the landfill.

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Ecommerce Returns are a big deal and for some industries represent more than a third of orders - this has a huge impact on profitability and customer satisfaction, so be aware and do everything to ...

Ecommerce Returns are a big deal and for some industries represent more than a third of orders - this has a huge impact on profitability and customer satisfaction, so be aware and do everything to ... | WHY IT MATTERS: Digital Transformation | Scoop.it

Ecommerce returns can make or break your business. See the latest stats on ecommerce returns, return policy examples, and a return policy template.

Farid Mheirs insight:

WHY IT MATTERS: returned products are a big deal for retailers because they a financial and logistical nightmare. As reported in a previous post, some retailers don't bother restocking and send returned products to the landfill, creating a real ecological issue. But there are ways to reduce returns. This post provides some of them.

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The Disruption of Management Consulting via @CBInsights

The Disruption of Management Consulting via @CBInsights | WHY IT MATTERS: Digital Transformation | Scoop.it

Since former BCG consultant Clayton Christensen first used the term "disruptive innovation" in 1995, nimble startups have challenged incumbents in every field from music to manufacturing. Now, a tectonic disruption is hitting management consulting just as it has hit many other industries.

Farid Mheirs insight:

WHY IT MATTERS: this report presents the case for the disruption of consulting by small firms like mine as it is enabled by digital technologies. Fascinating read.  

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Amazing #mustRead article on Work-from-Anywhere from @HBR highlights the PROs & CONs & best practices - most of all, it stresses that small towns will become very attractive, and barriers like H1B ...

Amazing #mustRead article on Work-from-Anywhere from @HBR highlights the PROs & CONs & best practices - most of all, it stresses that small towns will become very attractive, and barriers like H1B ... | WHY IT MATTERS: Digital Transformation | Scoop.it

Best practices for all-remote organizations

Farid Mheirs insight:

WHY IT MATTERS: this well-researched article highlights the PROs & CONs of work from anywhere - WFA - and provides best practices from large companies that have done this at scale (1300 WFA employees at GitHub). A reference for us all in digital transformation and also a showcase for the real impact of our work: large cities may struggle to attract people versus small towns that have lower cost of living and little traffic, countries may find that work visas need to be adapted to limit remote workers (how to do that), etc.

All in all, it may be the biggest transformation that digital brings: a societal change. Who knows...

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This Hilariously Odd Short Film Was Written by GPT-3, and it shows how far #AI text generation has come in a few years: credible and readable... but not yet "intelligent" - Where would *you* apply ...

This Hilariously Odd Short Film Was Written by GPT-3, and it shows how far #AI text generation has come in a few years: credible and readable... but not yet "intelligent" - Where would *you* apply ... | WHY IT MATTERS: Digital Transformation | Scoop.it

People have been training A.I. to write movie scripts for years, but this one is different. It showcases just how far A.I. creativity has come.

Farid Mheirs insight:

WHY IT MATTERS: GPT-3 is one of the most advanced text generation neural network out there. This movie is based on a script generated by this technology. It begs to wonder: where would you apply this technology in your company?

Generating blog posts variations to bring traffic to your site? Summarizing memos and other internal communications? Creating customer interactions for customer support to train against? Generating fake posts and negative reviews on your competitor Amazon store?

Already these are possible and should make us all wonder when we read something: is it real, or is it GPT-3?... ;-)

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Raising your Digital Quotient via @McKinsey is 5 years old and has not aged a day since then, check it out! #lepanierbleu #digitalTransformation

Raising your Digital Quotient via @McKinsey is 5 years old and has not aged a day since then, check it out! #lepanierbleu #digitalTransformation | WHY IT MATTERS: Digital Transformation | Scoop.it

McKinsey has been conducting an in-depth diagnostic survey of 150 companies around the world. By evaluating 18 practices related to digital strategy, capabilities, and culture, we have developed a single, simple metric for the digital maturity of a company—what might be called its Digital Quotient, or DQ. This survey reveals a wide range of digital performance in today’s big corporations (exhibit).

Farid Mheirs insight:

WHY IT MATTERS: I wrote about this when it came out and it feels like the McKinsey Digital Quotient remains as meaningful today as it was 5 years ago. The DQ helps identify the criteria for digital transformation and visualize if your company is above or below average...

See criteria and more here: www.mckinsey.com/featured-insights/digital-disruption/raise-your-digital-quotient 

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X-ray vision (actually #thermography) is the #killerApp for #wearables & #AR glasses: giving you superpowers to see & record beyond what you can see or feel: temperature, glucose levels, etc.

X-ray vision (actually #thermography) is the #killerApp for #wearables & #AR glasses: giving you superpowers to see & record beyond what you can see or feel: temperature, glucose levels, etc. | WHY IT MATTERS: Digital Transformation | Scoop.it

ThirdEye's Thermal Camera Can Help First Responders Detect Elevated Body Temperatures In Patients Infected With COVID-19 and Other Viruses Like Influenza.

Farid Mheirs insight:

WHY IT MATTERS: augmented reality glasses will really be useful when they incorporate sensors that give you superhuman capabilities. Here these AR glasses equipped with thermosensors enable professionals to measure temperature at a distance, giving medical professionals, first respondents, tools to manage covid crisis. Watch the video to get a feel for what's possible https://www.youtube.com/watch?v=TjWjX4R0kak 

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Estonia Is a 'Digital Republic' using #digitalID to identify its population and #blockchain for security - when #digitalTransformation is applied to a whole country. Can covid crisis provide incent...

Estonia Is a 'Digital Republic' using #digitalID to identify its population and #blockchain for security - when #digitalTransformation is applied to a whole country. Can covid crisis provide incent... | WHY IT MATTERS: Digital Transformation | Scoop.it

Estonia has digitized 99 percent of its public services and persistently achieves one of the highest ratings of trust in government in the EU.

Farid Mheirs insight:

WHY IT MATTERS: the article summarizes quite well what is possible when a whole country commits to a digital transformation. Note they've been at it since 1997, almost 30 years and they've had to make hard choices (not use a free analog phone system). Can covid crisis provide us with an incentive to do the same on healthcare, retail and government?

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3-step #digitalTransformation #maturityModel from @contenly: 1) Exploration 2) Unification 3) Transformation

3-step #digitalTransformation #maturityModel from @contenly: 1) Exploration 2) Unification 3) Transformation | WHY IT MATTERS: Digital Transformation | Scoop.it

A road map towards becoming a digital-first organization.

Farid Mheirs insight:

WHY IT MATTERS: this maturity may be overly simplistic but the plan is sound. Start with exploration, proof-of-concepts, prototypes, etc. Then move on the unification of processes to finalize with transformation!

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Survey finds companies struggle with #omnichannel as content is often siloed in different websites and solutions - What they call the digital innovation gap

Survey finds companies struggle with #omnichannel as content is often siloed in different websites and solutions - What they call the digital innovation gap | WHY IT MATTERS: Digital Transformation | Scoop.it

The industry’s largest-ever survey of CMS users reveals which technology drives greater business results.

Farid Mheirs insight:

WHY IT MATTERS: sharing content across different websites, eCommerce, in-store displays and new devices (ie. Alexa, siri) is difficult. This survey provides insights into the reasons why sharing is difficult. Be aware this is biased towards headless CMS, but the conclusions appear valid IMHO.

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Gartner Hype Cycle for the Digital Workplace 2020 post-covid highlights a number of digital technologies that enable remote workers #digitalTransformation #digitalWorkplace

Gartner Hype Cycle for the Digital Workplace 2020 post-covid highlights a number of digital technologies that enable remote workers #digitalTransformation #digitalWorkplace | WHY IT MATTERS: Digital Transformation | Scoop.it

Large enterprises needing to pivot quickly and push innovation to the edges may be encumbered by heavy management and control structures. However, internal talent marketplaces have the potential to change that. They establish trust through feedback mechanisms. They allow for worker-led innovation and help workers take full control of their careers. They enable much better and more granular tracking of the skills, competencies, knowledge and interest of individual workers. This, in turn, will give enterprises a much better view of their workforce and improve workforce planning. Internal talent marketplaces will help bring about leaner, more agile and more adaptable organizations.

Farid Mheirs insight:

WHY IT MATTERS: this report is a great summary of the digital technologies that can support the remote workers as part of digital transformation of businesses.

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Emerging Technology Roadmap by Gartner provides one diagram to visualize 200 #technology categories in use in midsize organizations HT @TechnoRousseau for the reference

Emerging Technology Roadmap by Gartner provides one diagram to visualize 200 #technology categories in use in midsize organizations HT @TechnoRousseau for the reference | WHY IT MATTERS: Digital Transformation | Scoop.it

Gartner's Emerging Technology Roadmap provides a peer-based view of how organizations plan to adopt technologies over a 12- to a 24-month time period. CIOs and IT leaders at midsize enterprises can use this infographic to benchmark their adoption plans with their peers and to review key adoption trends. Analysis of this year’s adoption plans revealed seven key trends across three themes — remote work, productivity and operations.

Farid Mheirs insight:

WHY IT MATTERS: I like visuals like these to play a game with my CIO colleagues. It goes like this:

1- print the chart in B&W

2- have CIO circle which technologies they have deployed in their organization

3- show the diagram in color and spot

3.1- the red dots they have circled

3.2- the green dots they hav *not* circled

4- guess how much time and $$ you need to align to the chart

5- have a chat about enterprise architecture and digital strategic planning ;-)

Enjoy the game!

 

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Remote control for dogs: US Army trials augmented reality goggles for dogs - is this the killer use case for #AR?

Remote control for dogs: US Army trials augmented reality goggles for dogs - is this the killer use case for #AR? | WHY IT MATTERS: Digital Transformation | Scoop.it

The goggles could let handlers direct their dogs from a safe distance, the army says.

Farid Mheirs insight:

WHY IT MATTERS: augmented reality is looking for good use cases to make it a reality. Is this one of them?

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25 Years of the Gartner Hype Cycle #video highlights the evolution of key technologies #fascinating

A presentation of several novel ways to visualize 25 years of the Gartner Hype Cycle. The goal is to demonstrate how one's understanding of complex information can benefit greatly from viewing the data from a fresh perspective. The Hype Cycle journey of Virtual Reality is explored in greater detail and is illuminated by moments in the video creator's own personal journey through three decades of working on cutting edge VR research including close to a quarter century of using VR for theme park design and movie production.

Farid Mheirs insight:

WHY IT MATTERS: amazing video that combines 25 years of Gartner hype cycles to show trends and insights about the evolution of digital technologies in recent years.

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2020 State of the API Report provides tons of insights about the standards, technologies, skills and other characteristics of API development, maintenance and operations

2020 State of the API Report provides tons of insights about the standards, technologies, skills and other characteristics of API development, maintenance and operations | WHY IT MATTERS: Digital Transformation | Scoop.it

Read the 2020 State of the API report. Discover insights from more than 13,500 API industry professionals and experts.

Farid Mheirs insight:

WHY IT MATTERS: Application Programming Interfaces or APIs are the basic tools of software developers to easily develop and integrate their solutions with others. This annual report is of course biased to postman but does provide a good overview of the industry.

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Most returned products from Amazon and others - up to 30-40% of all items bought on #eCommerce - are not resold but end up in #landfill: Hidden cameras and secret trackers reveal where Amazon retur...

Most returned products from Amazon and others - up to 30-40% of all items bought on #eCommerce - are not resold but end up in #landfill: Hidden cameras and secret trackers reveal where Amazon retur... | WHY IT MATTERS: Digital Transformation | Scoop.it

It’s safe to say that online shoppers like the promise of easy — and even better, free — returns. But it may surprise consumers to learn what can actually happen to all those unwanted items. 

Farid Mheirs insight:

WHY IT MATTERS: think about it before you make holiday purchase on Amazon or elsewhere: if you return the product it may find its way in the landfill (some 30-40% of all clothing is returned). Just so you know...

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Google provides #small #retailers with multiple solutions to prepare for this holiday season #localRetail #buyLocal #achatLocal #lepanierbleu

Google provides #small #retailers with multiple solutions to prepare for this holiday season #localRetail #buyLocal #achatLocal #lepanierbleu | WHY IT MATTERS: Digital Transformation | Scoop.it

Help your small business prepare for the holiday season with tools from Google.

Farid Mheirs insight:

WHY IT MATTERS: Google has a number of tools and solutions to help small retailers appear in google maps, google search, google shopping and other areas where customers go when they search for products.

Direct link to the solution: smallbusiness.withgoogle.com/holiday

 

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One of the best visualizations of #collaboration tools: different tools for different tasks in today's #RemoteWork strategies HT @dhincliffe 

One of the best visualizations of #collaboration tools: different tools for different tasks in today's #RemoteWork strategies HT @dhincliffe  | WHY IT MATTERS: Digital Transformation | Scoop.it

At the top of most organizations' priority lists right now is how to keep their workers productive and engaged. Except for in-person businesses and essential workers, the workforce has largely been physically disbanded until the pandemic comes to an end, one way or another. In unprecedented fashion, technology has suddenly become one of the single…

Farid Mheirs insight:

WHY IT MATTERS: this article shows collaboration best practice and offers useful visuals to understand the perfect use of the collaboration tools out there.

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Google research shows Canadian consumers are thinking about efficient ways to shop and plan their in-store purchases - #retailers must be #omnichannel

Google research shows Canadian consumers are thinking about efficient ways to shop and plan their in-store purchases - #retailers must be #omnichannel | WHY IT MATTERS: Digital Transformation | Scoop.it

Recent retail insights on the Canadian consumer journey shows Canadian consumers are thinking about efficient ways to shop and plan their purchases.

Farid Mheirs insight:

WHY IT MATTERS: Google research shows that customers go online to plan their in-store trips as covid wave#2 is among us. The need for omnichannel strategy and execution is more important than ever.

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Still own a store? If YES, then this In-Store Engagement Analytics will help you reshape In-Store Marketing to remain relevant in face of eCommerce rise

Still own a store? If YES, then this In-Store Engagement Analytics will help you reshape In-Store Marketing to remain relevant in face of eCommerce rise | WHY IT MATTERS: Digital Transformation | Scoop.it

In this presentation, you'll learn the methodology for deploying in-store shopper analytics software, understanding the metrics that matter most, how to use these metrics effectively, and the teams or roles that should be responsible for it.

Farid Mheirs insight:

WHY IT MATTERS: to make stores relevant in a world that moves to eCommerce, this report is full of useful insights to improve in-store marketing via technology and analytics.

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Debunking seven common #myths about #cloud via @McKinsey

Debunking seven common #myths about #cloud via @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it

Common misconceptions about cloud are holding companies back from capturing the full benefits available.

Farid Mheirs insight:

WHY IT MATTERS: I wonder if anyone still believes in those myths? Read if any of those sound true.
Myth #1: The main value of cloud business cases is IT cost reductions.
Myth #2: Cloud computing costs more than in-house computing.
Myth #3: The security I can set up and control in my own data centers is superior to the security on cloud.
Myth #4: There is greater latency among applications running on cloud providers’ networks than there is on in-house networks.
Myth #5: Moving to cloud eliminates the need for an infrastructure organization.
Myth #6: The most effective way to transition to cloud is to focus either on applications or on entire data centers.
Myth #7: To move to cloud, you must either lift and shift applications as they are today or refactor them entirely.

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30 Questions to Ask Before You Code

30 Questions to Ask Before You Code | WHY IT MATTERS: Digital Transformation | Scoop.it

I ask these questions before coding my next data science engineering project.

Farid Mheirs insight:

WHY IT MATTERS: great checklist for software developers and data scientists.

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