Businesses increasingly need their data to fuel improvements, efficiencies and innovation for their customers and stakeholders. To accomplish this, organizations must change how they think about their data and their systems to include:
- Intelligence and context
- Statistical volume
Imagine a world where technical constraints are lifted and companies can securely and responsibly share data across organizational boundaries. What might this kind of cross pollination and collaboration allow you to do? Once fully interconnected, enterprise systems will no longer need to maintain duplicate records but instead will be able to securely leverage data across platforms, businesses and countries in a way that delivers new value.
A connected economy allows organizations and consumers to connect anywhere at any time. This has impact across industries by allowing enterprises to generate new revenue streams as they engage customers throughout the product lifecycle, new ways of working powered by secure transmission of data and new operating models that enable breakthrough speed and value.
Use Cases for the Connected Economy
Secure, intelligent and connected ecosystems are already being built in pockets. Healthcare is one example. As the industry moves from short-term acute care to value-based care, it is enhancing long-term patient outcomes and experiences. This shift requires constant touchpoints, guidance and data collected over time, not just during appointments. To provide insights, healthcare providers have to connect their existing technology ecosystems to medical-grade and consumer-grade devices to monitor patients remotely even between visits. Interoperability across healthcare providers and user-controlled privacy are key technology pillars that will enhance the patient-doctor relationship, enhance the quality of touchpoints between them and increase the likelihood of successfully improving patient wellness over time.
Another industry that is leading the way in building secure, intelligent and connected environments is the manufacturing industry. Digital engineering capabilities are turning traditional manufacturers into smart manufacturers that can differentiate themselves in design and functionality of products and services, more quickly capture profit and build safe and continuously improving production and supply chain environments. In a connected future, digital twin technology will create product development/engineering, manufacturing, supply chain and aftermarket systems that allow companies to build and exploit information models.
Secure, Intelligent Systems Are Key to the Connected Future
Organizations across all industries – including retail, insurance, banking, utilities, travel and consumer packaged goods – need to change how they look at data sharing, data collaboration, connected systems and business processes so they can create new, secure digital highways for intelligent systems to communicate. Achieving these efficiencies requires new business models.
We are not there today, but we can be tomorrow. Contact ISG to discuss how we can work together to make this vision a reality.
About the authors
Sarah Diaz joined ISG in October of 2020 and is a Principal Consultant within the Digital Strategy and Solutions group focusing on Future of Work and Enterprise Agility engagements. She is working to identify how the Office of the Future may change in order to ensure a safe office environment for employees post pandemic. She also works with clients to guide on how to transition into a Product Aligned Organization.
Doug Glair is a Director in ISG’s cybersecurity practice. Doug is a cybersecurity and supply chain leader with remarkable background leading, designing, and operating large enterprise-wide cybersecurity and supply chain programs. Exceptional relationship builder and collaborator with proven ability to deliver improvements in cybersecurity risk posture using established standards, industry leading practices and ROI-driven controls.