3 Things That Will Transform The Future of Business

by Jay Deragon on 03/19/2013

past-present-futureThe future is easy to predict because it hasn’t arrived. However we can see emerging trends and probable outcomes based on analysis, predictive modeling and market trends. Only one thing can be certain about the future: it will be different than today.

What will be different and what will influence the changes? Lets look at what others are saying.

Brian Solis just released his book “What’s The Future of Business” which was recently reviewed by Forbes contributor Rawn Shah who writes: It is an interesting format heavily peppered with artwork by Hugh MacLeod (@gapingvoid) and full page of slogans and quotes; I might have even mistaken it for a coffee table book because of its shape. But, there is no mistaking the heavy detail of business topics focused on the changing customer experience, social commerce, and the evolving relationship with the customer.

I haven’t read Brian’s book but I am sure it is entertaining and thought provoking as any book about the future usually is. As the Forbes author mentions ” Brian’s book is focused on changing customer experiences, social commerce and the evolving relationships with customers. All topics that are relevant to the future of business.

But Are There Other Critical Issues To Consider?

The future of business is largely dependent upon the things that create the future. What creates our future? Data, value creation and our individual preferences for value has always and will continue to be the three things that shape the future of business.

Again, in a Forbes article titled “IBM CEO Predicts Three Ways Technology Will Transform The Future Of Business” Jenna Goudreau, writes:  Ginni Rometty believes technology will change how decisions are made, how value is created and how value is delivered. Here’s a look at what the future may hold.

  1. Data Analytics Will Revolutionize Decision-Making “Many more decisions will be based on predictive elements versus gut instincts,” Rometty said. Even in the most scientifically oriented fields, she noted that decisions are still being made based on anchoring biases. In other words, leaders and managers interpret information through the lens of their subjective perspective and set of experiences. At the end of the day, it’s about mindset and culture.
  2. The Social Network Will Drive Value: “The social network will be the new production line in a company,” Rometty predicted. The primary benefit of new social platforms, she said, is that today’s knowledge workers have access to each other. In the near future, she believes “your value will not be what you know, but what you share.”
  3. Consumer Segments Will Cede To The Individual:  Technology shifts will also change the way businesses deliver value. “What you will see with rapid data and social sharing is the death of the average and the era of you,” Rometty said. Rather than meeting the needs of different consumer segments—geographic, age or income segmentation, for example—businesses will be able to truly serve the individual.

So you decide. What is the future of business? Is Brian Solis or Ginni Rometty right about the future of business?  Maybe it is both. You decide.

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