If you want to succeed in business today, you must be prepared to make decisions based on real- time data, rather than historical or static models. We know that those who better predict the future will make better investment decisions today. Are you ready to keep up?

The ability to define what may happen in the future and to choose among alternatives lies at the heart of contemporary societies. Risk management guides us over a vast range of decision-making, from allocating wealth to safeguarding public health, from waging war…to wearing a seat belt, from planting corn to marketing cornflakes. [Against the Gods: The Remarkable Story of Risk].

The pillars of modern business growth

Traditionally the pillars of modern business have been asset management (generating growth through investment), business auditing (compliance), and insurance (coverage of the unexpected).

This trifecta has created explosive business growth in the past few centuries, pinned on relative (relative!) stability and a certain ability to predict the future through analysis of past historical data. This new ability to predict accurately has led not only to the near death of uncertainty, but to explosive economic returns.

Can you compete with Amazon or Google?

So what about the relevancy of traditional asset management organizations today? How can you compete with the new tech giants?

Amazon is already perfecting its delivery process to your home before you even know what you want to buy. Google knows where you're going to click or what you're going to search for before you do. Predicting action, and ultimately risk, is no longer a function of the past, but a function of the collective now: an understanding of the second before this second.

Treat information as data objects

How do you win within this paradigm transformation? Here's how: you treat every piece of business information as a data object. This allows you to track changes anywhere in real time and make predictions based on what, you hope, is the not-compromised signal of that data.

This shift is part of what we call digital industrialization, where data’s security and integrity are not only fundamental, but where everything is connected. Digital industrialization turns risk into an opportunity to not just survive but thrive. In this society, losing control of data, or not creating data objects and establishing data veracity in the first place, means losing control of your future.

And you don't want that.Ericsson-hyperscale-cloud-blog-digital-industrialization-game-has-changed.png

To explore these ideas in more depth, please read the paper The Game Has Changed: Time to Press the GO Button by Jason Hoffman, Head of Product Area Cloud Systems at Ericsson, and Geoff Hollingworth, Head of Product Marketing Cloud Systems at Ericsson.

Download & read the paper now 

Background photo by Deirdre Straughan.

Digital Industrialization

Celia Glowka

Celia Glowka works with product marketing, positioning, social media management and content communication strategies for Ericsson’s Business Unit Cloud & IP. Previously, Celia managed projects which delivered go-to-market strategies for international companies entering the US market: from start-ups to established companies, from tech to otherwise. Celia is currently working on her MBA with a concentration in Marketing from Santa Clara University, and holds an undergraduate degree from U.C. Berkeley.

Celia Glowka