A study titled, ?The Information Generation: Transforming the Future,? published by EMC explores the impact of a growing global community of digital citizens. The study results are based on inputs from 3,600 director-to-c-suite business leaders across 18 countries. It reveals new expectations of these individuals and identifies the fundamental business attributes critical for organisations to successfully compete and thrive in this new landscape.
According to EMC, globally nearly every (96 per cent) business leader surveyed believes new technologies have forever changed the rules of business. In addition, 93 per cent reported that recent technology advancements are resetting customer expectations, and leaders believe this will accelerate over the next decade. The top reported consumer expectations are faster access to services, 24X7 and ?everywhere? access and connectivity, access on more devices, and a more unique personalised experience.
In line with the global response, 76 per cent of business leaders in India think that the mega trends of social, mobile, analytics and cloud (SMAC) have changed consumer expectations. Against the business attributes that emerged as top priorities, Indian businesses exhibit a high degree of importance towards them but admit to not being future ready, as yet. About 86 per cent of the Indian businesses are aware of the importance of predictively spotting new opportunities to get ready for the ?Information Generation?. Meanwhile, 88 per cent of business leaders stated they are demonstrating transparency and trust organization-wide. Further about 89 per cent of organisations expressed a desire to innovate in an agile way. And 79 per cent of Indian organisations understand the importance of delivering a unique and personalised experience organisation wide while only 36 per cent of business leaders are of the view that their organisation can act in real time, and another 48 per cent believe that they can do so, but not always with the insights that they need.
Due to new information generation-driven demands, companies agree that transformation is critical. To be a disruptor ? and not disrupted ? business leaders have identified five ?make-or-break? business attributes, all of which have information at their core:
1. Predictively spot new opportunities in markets
2. Demonstrate transparency and trust
3. Innovate in agile ways
4. Deliver unique and personalised experiences
5. Operate in real time
Commenting on the study results, Rajesh Janey, president, India and SAARC, EMC, said, ?The information generation is changing the dynamics of the environment in which organisations operate today as they increasingly face the demand for more. The new generation of businesses especially the ones ?born of the cloud? are driving this change in expectations, thereby making it critical for businesses to redefine themselves in order to adapt and remain relevant. While 76 per cent of businesses in India think that SMAC has changed consumer expectations, it becomes critical that they systematically explore the longer-term implications of an age in which information is at the center of everything we do. ? He adds, ?To achieve this, businesses will need to continually re-condition themselves in ways that are yet to be imagined. Organisations who are information-savvy can lead one of the most significant transformations in history provided they ready themselves now.?
