Be Digital or Be Extinct
- Nimai Majumdar
In the decade of 80's (my high school & under-graduate period), even a digital scientific calculator was a matter of fancy & showcase. Other digital devices (camera, recorder, etc.) were a symbol of aristocracy for many of us.
Gone are the days when adopting digital was a style or matter of fancy.
Today and the future exist on digital. Adopting latest digital technology will be the key for survival.
SMAC (Social, Mobile, Analytics & Cloud) is not only a business buzzword today but a driving force for every business, corporate and socially connected entities. Today, for most of us, every physical activity (reading, listening, gym, etc.) is having a digital footprint, connected to a smart device (Mobile, Laptop, iPod).
Two significant technologies in the next digital wave are IoT (Internet of Things) and Big Data. Devices & equipment will be talking to device, logic driven & connected digitally, without any human intervention. Smart phones are already a live example.
Can't ignore here my personal experience around Oil & Gas industry. Already having established Digital oil field; companies (IOCs & NOCs) are going digital today, not only to the downstream chain business & connected stakeholders but also in the integrated refinery value chain.
Service providers of diverse industry are collaborating today to provide the best fit solution to the business & clients. HCL is doing collaboration for providing best digital experience one of the premier NOC (National Oil Company). Retail & Consumer businesses are integrated with social media, where big data is already present for deriving business insight.
Below are some interesting facts & figures :
♦ 68 million 'variable smart devices' sold in 2015
♦ Apple sells around $34 million worth of their products & services in 1 hour (as per their last quarter result). That is the worth of digital
♦ AirBNB is valued at $ 10 billion without owning a single room. Hayat is valued at $ 8.5 billion. That is the power of using digital platform & technology.
♦ 3 billion people in the world use internet today. Facebook has 1.4 billion members & 83% of them are on mobile because of FB app on mobile. Here is the power of integration of mobile & digital.
♦ Apollo guidance computer helped Apollo 11 to land on the moon, had only 2 MHz of processing power & 4 KB memory, with its weight of 70 pounds and cost of $ 150K.