From Data To Profit

CHAPTER 2There Is No Finish Line

This chapter and framework is step 1 of a much longer journey. I don't expect you to follow my lead blindly. Instead, I will explain the drivers and help you understand why taking these steps is crucial. The modern competitive landscape is fundamentally different than ever before and at its core is technology.

The business world understands technology has had an impact on the modern competitive landscape, but few understand the extent. Technology is a critical part of the business. The modern firm relies on it to create and deliver value to customers. Technology is not a static entity, and companies cannot be static, either.

Google provides an excellent example of what happens when even the most innovative company stands still. Google developed advanced data science and machine learning capabilities. However, it isn't enough to innovate and be technically competent. Monetization remains elusive if the business doesn't transform along with technical capabilities. That's how Google got caught flat-footed.

As technology evolves, the business must adapt to that new technology. In this chapter, I start by explaining what that means. Continuous transformation is a framework to manage the evolutionary nature of technology. It enables businesses to control technology's value creation. There's a massive difference between having data, analytics, and advanced models and actually monetizing those technologies.

By the end of this chapter, you'll understand ...