Based on key insights from the data and interviews with respondents, Berkes reveals seven rules of engagement that companies should follow as they seek competitive advantage:
1. Be ready to break things:
“When organisational change is inevitable, rules may get bent,” Berkes adds. “And change is happening - fast.
“Nearly half of respondents believe that becoming a more software-driven business has had an impact on time-to-decision, and another 37 percent say that internal operations have been deeply affected.”
2. Squeeze the value out of data:
“Respondents say they are proficient at marketing directly to consumers (59 percent say they are very or highly effective), but few (only 22 percent) have all the details - like tracking customer preferences nailed down,” Berkes adds.
3. Learn to listen:
“Using social media well is critical to interacting with customers and business partners alike,” Berkes adds.
“More than 40 per cent of respondents say it is a must-have skill in the new environment. One key thing to remember is that these tools are not just new ways to push information out—they are great ways to capture intelligence as well.”
4. Guard data fiercely - and know what you are protecting:
“Protecting customer data is a fundamental rule of engagement, and companies are investing in bigger budgets and new tools to get the job done,” Berkes adds.
“Sixty percent of respondents say they are spending more to protect customer data, and even more are doing the same to safeguard internal information.”
5. Bring innovation to collaboration:
“Old barriers do not apply in the application economy,” Berkes adds. “Nearly half of respondents say that bringing together security executives with the heads of business units is enabling new business opportunities.”
6. Give the people what they want:
“In the app economy, customers expect quick, intuitive interaction,” Berkes adds. “They will not countenance outages, data loss, or downloads that take longer than a few seconds.
“With an enormous increase in revenue driven by customer interactions with apps expected in three years, getting this right is an existential necessity.”
7. Remember that culture eats strategy for lunch:
“Organisational resistance is a given whenever change occurs,” Berkes adds.
“Nearly 40 per cent of respondents say the biggest obstacle to becoming more adept at software and application development is a culture that won’t support it.”