Highlights from an Executive Dialog on how to “Get Started”, with Jeff Miller
Organizations around the globe are joining the digital transformation race; however, many are finding it difficult to get started. And some are learning that the starting line is not where they expected it to be, causing false starts, lost time, and extra costs. As a Digital Transformation Advisor at PTC and manufacturing industry veteran, Jeff Miller has helped numerous companies define their pathways for successful transformation journeys. To help organizations tackle this challenge, Jeff hosted a uniquely interactive executive discussion at LiveWorx 2017.
The session, ‘IOT AND DIGITAL TRANSFORMATION: ACHIEVING RAPID FIRST VALUE – WHERE TO BEGIN?’, took IT and Operations leaders through techniques for getting started and realizing rapid value from IoT-based transformation initiatives. The fact-based, fast-paced discussion focused on identifying and prioritizing important business outcomes, defining the IoT and process capabilities required to achieve those outcomes, applicable performance measures, and optimized IoT solution programs. Attendees were able to share their own experiences and compare them to 3 relevant case studies showcasing successful transformations.
Here are a few highlights:
1. Set the right foundation for digital transformation. Focus on three key activities:
- Assess: Effective transformation requires a plan. A plan begins with an understanding your current levels of maturity and effectiveness in the business capabilities you need for the outcomes you seek.
- Discover: Combine the gap analysis of the Assess step with an exploration of emerging and new leading practices enabled by IoT. Which of them may be valuable to your business
- Accelerate: Create and implement a prioritized plan comprised of projects that will deliver new capabilities. Priorities based on time to first value, lower risk and logical IoT sequence.
2. Don’t reinvent the wheel: IoT-enabled Business Transformation begins with the data and processes of today. You can drive rapid value without incremental risk to operations if you follow this sequential process:
- Use the data already have available
- Do more with it (See “Discover” above)
- Leverage your existing integrations and federated data models (if any). Extend them into new, IoT-enabled usage models.
3. Embrace experimentation: New sources of business value are not limited to extensions of current capability. Remember, the “IoT” connotes a set of disruptive technologies, at the edge, in the networks, in the cloud, and in how business have operated within the limits of those technologies. Apply “inductive” and “deductive” problem-solving. Seek ways to apply transformative IoT to today’s challenges, and to tomorrow’s opportunities.
If you’re preparing to enter the race, or if you’ve already started and you’d like more professional tips from experts like Jeff Miller, visit PTC’s IoT Transformation Advisory Practice page.
For more great information on Digital Transformation, be sure to register for LiveWorx 18, June 17-20 in Boston!