Technology enables business for innovation and new business models for future competitiveness. To reach the full potential for new ways of running, companies need to align all elements, from Strategy & Science, to Technology Integration and Business Operations.
Ignite 2019- How business can deliver on the digital promise
Ignite was conducted in Oslo recently and the event was aiming at being a launch-pad for revolutionary ideas as both industry and technology are ready to realize the true value of data. Cognizant and the rest of the industry discussed the digitalized industrial future, giving us a glimpse of the Fourth Industrial Revolution, where industry and tech reimagine the way they work.
Manoj Mathew, AVP in Digital Business from Cognizant was one of the speakers at Ignite. During the Executive track he shared his thoughts on how business operations can deliver on the digital promise.
Rewiring your Business: Beyond Digital
How can companies use digital technologies as beds for experimentation and innovation, in order to run their business differently? This is the key questions lots of business leaders are asking themselves.
Strategy & Science, Technology Integration and Business Operations are mutually dependent of each other in order to meet the challenges in the fourth industrial revolution. Businesses are forced to take a harder look at how they are running in order to stay competitive in a new era.
The use of data, scaling up, repeatability, altered cash flows, finding sources of new revenues and developing new business operation models, are some of the key factors that businesses need to looked closer at.
Case – Optimizing The European Airspace
The European Air space is a coordinated air traffic system that aims to optimize the European airspace in terms of capacity, safety, efficiency and the environmental impact. Today it covers 28,500 flights a day, divided on 402 airports, are run by 55000 controllers, and experiences less than 8.5 errors per million operations. The key question for the pan-European air space is how will the European airspace accommodate the increasing air traffic flows, whilst cutting costs and improving its performance?
Eurocontrol® is an intergovernmental organization that is committed to building, a Single European Sky that will deliver the air traffic management (ATM) performance required for the twenty-first century and beyond. By utilizing data and implementing digital systems, they have managed to align the business of running airports by increasing passenger efficiency and better planning, increasing ground operations efficiency, implementing critical asset operations model and provided digital customer engagement. This is done by integrated system for predictive flow management, and has given the ability to optimize the flight operations planning. The results are 370,000 hours of reduced flying hours, and 155 Million passenger delay minutes saved. The calculated benefit of increasing the airline efficiency is potentially US 5 Billion
This kind of transformation requires completing the chain (4.0) where using sensors and getting the most out of the data is a good start.
For Manoj Mathew´s take on how to deliver on complex digital solutions, please look at video on top of this post.