Among the many books about digital transformation (whatever the form it takes) I’d like to draw your attention to the excellent Disrupting Digital Business: Create an Authentic Experience in the Peer-to-Peer Economy by Ray Wang.
This book is worth reading for many reasons : it’s clear, easy to read and provides many keys to understanding the digital thing. In short, I advise anyone interested in the matter to read it.
Key element of the new paradigm : no one sells products anymore but services and experiences. Hence the mission of any business is not to deliver a product but keeping a brand’s promise, what is the consequence of the customer’s increasing expectations.
According to Ray Wan, it’s not about incrementally improving what’s existing but reinventing things and exploring totally new fields. More than digital transformation, he conducts a deep analysis of the transformation of business models in an economy where value creation depends on the capacity to deliver unique and authentic experiences. This analysis is based on the study of the cornerstones of these new models.
First data. Not data for the sake of data but because they can help to deliver right-time relevance if used properly. The right action at the right moment : each part of the concept alone leads to failure but being both relevant and timely drives value and that’s what businesses must try to achieve.
Then authenticity. No experience is good if not authentic, no matter how shiny it is. It’s not gonna be memorable and will only have a light impact if not authentic regarding to the brand.
The third is about anticipation and understanding. Anticipation because the amount of data generated everyday – not mentioning what connected objects will add in a close future – will help to anticipate the future. We’ll act more based on predictions and probabilities and not based on established rigid processes anymore. Machines able to learn and interact with humans in natural language will be able to solve problems and bring solutions while, today, they are only able to point at information helping people to solve the problem.
The fourth is the networked economy, most of all regarding to innovation and design. It’s not about businesses only but also about individuals. The field of possibilities will be infinite for those who’ll manager to find their place in the peer-to-peer economy. In order to thrive in this economy businesses will be able to understand its leverages and codes.
Then comes the concept of work in the digital economy and the internal transformation without which it’s going to be hard to set a business in motion regarding to the previous points.
That’s all for the overview. Each point is dealt with in a very clear and understandable way with many cases and a very structured reasoning. I also appreciated the popularization of many concepts made understandable by anyone so the reader will be able to act upon the book when back at work.
Really a book worth reading.