Becoming a smart connected business

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Companies in all sectors, geographies and stages of growth are shifting toward strategies centered on being a smart connected business. Those who do this well will develop an information advantage about customer needs, make faster and more accurate decisions, and will become innovative disruptors rather than competitive prey.

Transforming companies into smart connected businesses will be at least as big a change as the industrial revolution and the internet.

Most companies are approaching the challenge of becoming a smart connected business by acquiring start-ups, partnering with, or co-investing, in new companies, or creating their own innovation centers to push the disruptive edge. While we believe that these are good starts, innovation leaders know they have to do much more than that.

Leading companies are focusing on designing new end-to-end customer experiences, monetizing, marketing and selling in a totally new way. They are reinventing their core products and services through instrumenting the offers themselves to be living, learning and expanding platforms. These shifts require new operating concepts that go deep into the core of business, not bolt-on initiatives or separate labs. In this article, we examine three key areas of transformational change necessary to become a smart connected business.

The article was written by:

  • Mike Kanazawa
    Principal, Advisory Services — Performance Improvement, EY, US
  • Steve Basili
    Senior Manager, Advisory Services — Performance Improvement, EY, US
  • Sanjay Khurana
    Senior Manager, Advisory Services — Performance Improvement, EY, US
  • Girish Nagasandra
    Senior, Advisory Services — Performance Improvement, EY, US

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