Author: Alasdair Munn
Our shift from the industrial age to the information age has been led through our ability to make better-informed decisions. To achieve a competitive advantage we have had to have instant access to real-time information, harness our collective expertise and intellectual property and ensure we are nimble and efficient when adapting to change. Technology has played a starring role in this transformation, however, we are rapidly realising that the value of technology goes beyond chips, computers or software.
The industrial age was characterised by economies of scale through standardisation, retrospective measurements such as ROI and market penetration through demand creation. The information age has seen a shift, led in part through changing consumer behaviour and expectations. We are increasingly living, working and interacting in real-time.
It is estimated that within a year the amount of digital information in the world will double every 11 hours. This information is largely unstructured and will be produced in a multitude of formats, originating from an ever-increasing number of intelligent devices. To stay informed and nimble we need to change the way we structure our organisations and analyse our data.
Capturing, processing and analysing relevant data so it is seen in context and helps direct and inform decisions is essential. The ability to recognise patterns, to analyse content in motion and present this information so it allows for effective management and decision-making is the new competitive advantage. Managing your content through a permissions based hierarchy so it can inform, grow, have value added to it and be accessed when and where it is needed is an organisation’s new intellectual property.
Social media has an important role to play within this eco-system. The collaborative and real-time essence of social media, be it across open or closed networks fuels the information age. The tools and thinking behind social media, applied in relation to an organisation’s unique business rules and objectives drives this shift.
In this context, social media is not just about brand or reputation management. It is about giving organisations the tools they need to succeed in an age where change is rapid, collaboration essential and expectations are real-time.
Photo by The Rocketeer