Someone asked me recently what I thought digital was? Whilst there are are plethora of great definitions out there already, I thought I’d have a go at making my own.
Digital is a structural and generational shift towards businesses and people being interconnected (and arguably interdependent) with technology.
This can be broadly characterised by:
- Everyone & everything increasingly being interconnected through the internet in someway
- New thinking & ways of doing things that has wide ranging implications for governments, economies. markets and society in general
- New business and operating models that deliver new products and services enabled through this interconnectivity
In the business context digital is creating new opportunities (and threats)
- Providing levers for growth & cost reduction
- Removal of barriers to entry where traditional businesses (and their business models) are vulnerable to being trumped by new market entrants
- New ways of engaging with customers (often in a customer centric way)
- Brand risk from increased transparency and security threats
- New analytics to aid (or sometimes impede) decision making
Well thats it, in a nutshell, which really begs a further question…what isn’t digital?