For years, digitalization seemed to be something that would happen to companies naturally and effortlessly. After all, the internet is already several decades old, and we all own a smartphone with more compute power than Apollo 11 featured. Now we recognize that this is not so, and that the Digital Transformation of our economy and businesses not only requires a considerable technical effort but also a big change of our mind-set. New skills need to be acquired, new thinking and a new attitude developed, and new behavior adopted to truly benefit from a data-driven economy.
The missing knowledge
Many companies wonder why they have not been able to design their digital future with bold strokes and why the strategies they defined have not been executed. It is mostly not for a lack of will but lack of knowledge and know-how and methodologies that senior management fails to gain traction on their digital journey.
Missing knowledge and know-how are the No 1 cause for indecisiveness and paralysis and it is also the No 1 cause of mind-set blockage and fear of change.
The lost business case
The second most prominent stumbling block is a missing business case. To move even a single Use Case from Proof-of-Concept to Production, both the right mind-set and a valid business case must exist.
To bridge the chasm that lies between business need and data science capability is a hard problem. How can business formulate a structured demand and data science offer an equally fitting solution? How can terabytes and teraflops satisfy revenue and EBIT?
Of digital leaders
Companies that manage to bridge the knowledge gap between functional and digital/data-science expertise will be transformation leaders as they will have fostered a shift in mind-set and behavior facilitating the transformation to a data-driven business in all its aspects.
Our Steering Lab knowledge and research services will help you bridge that gap between business needs and data science capabilities, between programmed machines and learning machines, between theory and practice, and between potential and productivity.
Digital Transformation Workshops
We offer highly customizable full-day management workshops at our Steering Lab in Munich, or if required at any other off-site location. Over the past years we have conducted over 150 of these digital transformation and BDML solution workshops with management teams from all industries and business functions.
You can find our Digital Transformation Workshops here.
Expert Deep Dive Workshops
Our Expert Deep Dive workshops go further still and offer hands-on quantitative business modelling of customer Use Cases together with our Quantitative Business Modellers.
New Research Frontiers
The Steering Lab commits to joint research and development projects with businesses of all industries, from intelligent factories to intelligent products and services. We have experienced that fresh views and impulses from the outside are just as invigorating for Data Science units as they are for any other business function.
Leading edge research in the domain of AI is also conducted under joint collaboration schemes with universities.
The next generation
We also engage in education and offer guest lectures or lecture series at universities who want to complement their theoretical teaching with industry practice.
Dr. Matthias Emler