As organizations across vertical markets continue to adopt and build capabilities to deliver products and services to internal and external customers, they are faced with the challenge of delivering the capabilities that will usher in the most value. Over the past 15 years, adoption and advances of Internet technologies and business models has contributed to hyper-growth for businesses that have been the front-runner/visionaries then to businesses that were slower to adopt. Drivers such as commerce, content, mobile and analytics have spawned entirely new businesses or models to adopt, resulting in unbelievable transformative results across every industry. In many ways, these drivers (not only Uber drivers) have been part of a Second Wave of the global Internet Revolution (The Internet Revolution is the New Industrial Revolution,@forbes). While this post is not meant to detail where we have been as professionals and the contributions to these remarkable business advancements, it’s important to take a breath, pause, and give accolades to all involved.
Fast forward to present day. Many businesses have been able to participate in the Internet drivers seeking to introduce net new capabilities that outperform competitors’ services and products. However, as the Second Wave reaches maturity, a point in time when many business have achieved capabilities in commerce, content, mobile and analytics – businesses have also become carefully orchestrated and efficient operators of these capabilities. Entire business units, groups and teams – even C-level positions – have been created to standardize, manage risk, and deliver on these capabilities.
When all businesses have achieved a level of table stakes capabilities, based on matured Internet business models, operational ways of working and technology platforms, how does a business continue to grow rapidly and differentiate? As a result of businesses embracing the Second Wave capabilities, it is common for this statement to be made within the walls of [insert-business-name-here]:
“Every two weeks, our team designs and delivers an updated set of capabilities and experiences to our customers that we will collect behavioral information and business results from. Once our customers use this, our team will analyze the results based on our tried-and-true process, then we design and schedule updates for the future (probably, more than two weeks in the future because we have already scheduled to delivery new capabilities two weeks from now.“
This statement is rooted in user experience, operations, data, insights and technology; however, it’s also based on historical data, experience concepts that we believe will change the collected historical data, and a delivery schedule that is lagging behind the business’ demands. Hence, we arrive at the current state of the digital product in many businesses.
Our primary vision at Moonshot by Pactera Digital is to take businesses beyond the current digital product mindset, to achieve near future results through a new set of operational processes, sciences and experiences that build on technology accomplishments achieved during the Second Wave of the Internet Revolution, allowing business to once again pursue hyper-growth and efficiently in the next, Third Wave of the Internet.
The vehicle to drive business results through the Third Wave of the Internet is the Continuous Intelligent Digital Product.
As businesses we’re faced with blocking processes that impede the creativity of the individual, a deluge of data, and the ever expanding role of software in every day use. The Continuous Intelligent Digital Product sets businesses on a path for success. With this concept, businesses will be able to change the earlier statement to:
“When we see fit, even one hundred times per day, our people and intelligent systems are learning and changing our capabilities and user experiences based on actual in-the-moment results taking into account relevant current events beyond historical data. Our teams are empowered to experiment alongside the automated mechanisms to achieve maximum business results, results that may not have been apparent.”
The concept is comprised of the following core concepts that business will need to master in the near and far future:
- The Digital Product: As described in our Series of posts elaborating on “Delivering Digital Products Efficiently,” the digital product will always be a core set of experiences, operations and technology conceived to delivery value.
- Continuous: Businesses must urge their teams to work together in concert and change operational and delivery models to quicken the pace of experience delivery. These operational models must encourage feedback from the consumer as acceptance instead of relying on an internal team of analysts and quality steps that elongate the delivery cycle.
- Intelligent: The significant arrival and prominence of mathematics, statistics and computer science will power new capabilities that allow the digital product to optimize and alter itself, rapidly.
We will continue to expand on this topic in future posts!