SAAL - DigiXT is a potentially handy tool  to prepare for an economic shift

DigiXT is a potentially handy tool to prepare for an economic shift

Oct 26, 2022
  • Finance
  • Corporate
  • Competency Development
  • Business

Background

 

Global economic growth is slowing more than what was forecasted a few months ago in the wake of various man-made and natural challenges.

 

While global growth this year was still expected at 3.0%, it is now projected to slow to 2.2% in 2023, revised down from a forecast in June of 2.8%, the Organisation for Economic Cooperation and Development [OECD] said.

 

Problem Statement

 

Gloom & doom have led to many enterprises embracing the “safe” mistakes of hunkering down, letting people go, shrinking, and hoping for the best. Is that approach going to save your enterprise?

 

You need to be closer to your customer’s challenges

 

We are currently in a digital revolution where our customers use social media and Internet technologies to interact, share their opinions and experiences, and exchange ideas. If you have your finger on the pulse of your customers, you can gain valuable insight into their needs and habits. Deep knowledge of the customer and operational behavior and performance propensities can help businesses in a slow down to remain competitive, retain or acquire customers, maximize market share and profits, optimize processes and capitalize on growth opportunities.

 

Solution

 

The economy might be slowing down, but you can make its impact less on your enterprise by kicking off a DigiXT initiative internally. You’ll learn how to harness your data and create better smarter business decisions.

 

A few thoughts to spark introspection on how to progress

 

As economies are beginning to slow globally, technological advancements are opening up new doors for businesses, increasing productivity and boosting revenues.

 

Many a time, quite of bit is said about What needs to be achieved and the How’s missing. Here, I would like to throw some light on How’s for your kind consideration. There are no rights and wrongs, and this draft may serve the purpose of kicking off an introspection and a potential deliberation.

 

 

 

 

 

A high-level guideline of the How’s are as follows:

 

1.     Identify, validate, value, and prioritize those Use Cases where the application of data and analytics can materially improve customer outcomes or operational efficiencies over the next 12 months.    

 

2.     To leverage data and analytics to improve the customer experience and drive operational efficiencies, empower your front-line team members to ideate where and how these tools can be applied.

 

3.     Getting data and analytics to work harder and smarter is not as easy as it sounds. Engineering your data and analytics so that they can be easily deployed, shared, and continuously refined requires a different kind of thinking. Using our next-generation data platform, DigiXT, enterprises could unify their big data and make it easier to unlock new ways of working. With DigiXT, you can securely unlock all your enterprise data, quickly integrate it into apps and data science projects and work in real-time across any modern cloud platform.

 

4.     Start small and build your data and analytics capabilities on a use-case-by-use-case basis where each use case delivers a positive Return on Investment (ROI). You need to be quick, nimble, and cost-efficient in your approach to data and analytics.  Don’t let the recession put you in “analysis paralysis” where you are unable to decide because of the perceived uncertainty of how much the business or organization will benefit. 

 

To see how DigiXT harnesses your data and creates smarter business decisions, write to marketing@saal.ai