01.08.2017

Models: The Currency of Digital Transformation

Author: Babur Ozden
Models: The Currency of Digital Transformation

“Digitalization transforms decision making at a company from data-driven to model-driven.”

The currency of digitalization is models. Everyone has data!

Board level conversation!

Pursuit of unprecedented and repeatable business results by improving the speed at which better decisions can be made by people aided by models, or in other words, digital transformation is now a board level conversation across industries.

Premise.

What if the expertise of employees and information locked in disparate data sources could be integrated and encoded into a new digital knowledge in the form of network of models?  These models to provide daily recommendations to assets guiding subject matter experts to make better decisions and at much faster speed. The impact on increasing the efficiency of a company’s operations would be profound.

 ACME.

Take ACME for example, a Fortune Global 100 ranked company, with 30,000 employees who collectively make 120,000 decisions everyday on over 400 operational workflows. ACME estimates a 20% improvement in the quality of decisions made on all workflows equates to $3.5 billion dollars increase in gross margins.

Workflows.

Digital transformation of a company is the digital transformation of its operational workflows. In other words, digital transformation is complete when every workflow in the organization is powered by a network of models, that assist employees in making better decisions.

Digitally transforming a workflow entails 3 new things:

  1. a network of new models that is computing on
  2. information constructed out of data from large number of sources,
  3. capturing the outcome as feedback back to network of models

Models.

For example at ACME digital transformation of 400 workflows corresponds to a network of 3000 new models (about 5 – 10 per workflow). 3,000 models gets ACME to the post-digitalization demarcation and cranking new models will continue as an ongoing part of the business.

Platform.

You need the right platform to create and evolve this new digital knowledge. And once the business starts reaping the expected outcomes, it becomes contagious, there is no going back. You will be in the business of making more models, similar to what Uber and Amazon are doing.

One million new models.

For the top 700 major industrial companies, digital transformation equates to the creation of 1,000,000 models using information locked in 400,000 disparate sources to aid 2,500,000 subject-matter experts on 65,000 workflows making 10,000,000 daily decisions better and faster. Which translates into $1.5 Trillion dollars in additional annual profitability contributing to the global economy.

Back to ACME.

ACME adopted Maana Knowledge Platform™ to encode its domain expertise and information locked in its disparate data sources into a new digital knowledge to enable faster better decision making on workflows by its employees.

Increasingly the world’s largest corporations are adopting the Maana Knowledge Platform.

 

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