Operating in a disruptive market
Knowledge is power, so the saying goes, and we are living in an age where knowledge has never been more democratic or accessible. How to use this knowledge to get ahead in an age of disruption and instability, is another question altogether.
Companies today have access to data that provides far greater insight into consumer behaviours and market needs than ever before, providing them with myriad opportunities. But the results generated in the quest for data can be overwhelming, and the expertise required to effectively utilize such data is in short supply. Making sense of vast troves of data is a potential catalyst for success in many businesses, but highly trained data scientists are few and far between, if not prohibitively expensive for most businesses.
This information overload is just one of a number of challenges being faced by global and national businesses as they seek to navigate their way across the rapidly changing landscape of business and technology. They are doing so against an unstable geopolitical backdrop that can call their very existence into question. The continuing saga of Brexit, trade tensions between the U.S. and China, and tensions in the Middle East are just a few examples of such instability. Other factors such as climate change and population displacement are becoming increasingly disruptive elements, with natural disasters and the threat of pandemic diseases impacting logistics and accessibility.
Many companies also face regulatory uncertainty in the form of changing tariffs, data privacy legislation, and changing regulation around international investment and technology transfers. Consumer needs and behaviours are changing in response to the rise of new technologies, requiring tailored solutions in rapid time frames.
With the ubiquity of digitalisation, cyberattacks are a constant threat, forcing companies to invest more and more time and effort into data protection. Malicious bots are perpetually crawling around cyberspace, looking for any opportunity to exploit data and servers for their creators’ malevolent purposes.
In this age of acute disruption, companies must be agile if they are to survive. They have access to more data than ever, but not necessarily the means to leverage it. The wealth of opportunity is counterbalanced by an abundance of disruption, and the ability to adapt has emerged as a key differentiator among modern businesses.