Digital Business Metrics Expert Answer
1. Moore (2019) discusses digital risk that an IT department put in business context, mainly through reporting on revenue, inventory and direct business impacts. In order to measure digital transformation progress, the Chief Information Officers are required to shift for measures that interest executive decision makers from the former operational efficiency metrics. Key performance indications (KPIs) are essential to measure digital business progress. The appropriate metrics to the business improve the successful business outcomes and potential key stakeholders. The KPIs aren’t the same for all, a different metrics for every digital transformation that need to be industry specific at first and then organizational specific to be useful and meaningful. Coca-Cola is a shining example of digital business that has based itself on AI and big data. Artificial Intelligence that reside in vending machines by Coca Cola, help the customers to make their own drink with the help of smart phone (Marr 2017).
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The two significant key-takeaways that could be useful for career growth in digital business are customer acquisition cost and time to implement new system. For former, it is essential to properly calculate the money spend on acquiring new customer-either too much or too less can get market share to savvier competitors. Secondly, accurate time to implement new system is a part of digital transformation which undergoes changes as digital business is the ultimate goal. A technology driven company with its main focus on implementation of current needed system, retain its place in foreseeable future.
Moore, S 2019, ‘How to Measure Digital Transformation Progress,’ Gartner, 30 September, viewed 30 March,
https://www.gartner.com/smarterwithgartner/how-to-measure-digital-transformation-progress/.
Marr, B 2017,’The Amazing Ways Coca Cola Uses Artificial Intelligence And Big Data To Drive Success,’ Forbes, 18 September, viewed 30 March,
2. Netflix is one good example of digital business that switched from e-business. Netflix has rivals that have intensified streaming wars capturing additional market share. The factors that drive the rapid growth of competitors are important to analyze through key metrics of streaming giants. Team (2019) reports first loss of Netflix in terms of streaming subscribers in the 8 years in US, where revenue growth is slightly expected to mute over the next 2 years. Disney added revenue of 0.8 billion in the last years by higher pricing, partially driving an off set in subscriber count. To overcome the drawbacks, Disney+ launched in late 2019 has promising low-cost streaming offerings. Consumers are driven by incredible promises and lower prices. Apple building and Disney+ roll out their content on discounted price, and on one or more hit shows that become the mouth words will make the Netflix lose market share (Feldman 2019).
As changing preferences have drawn people from linear media to on demand services, streaming is facing intense completion. Pricing and quality of offerings are the key-takeaways that companies can compete to gain market share and are important for future career in digital business. Just as the above scenario, customers usually reject price hiking as happened in US. Companies that earn billions in business are on the edge of further gains due to the variations in metrics.
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Feldman, D 2019,’Netflix’s Dominance In U.S. Wanes As Hulu, Amazon Gain Subscribers,’ Forbes, 21 August, viewed 30 March,
Team, T 2019,’Think Streaming Is a Messy Business? It’s About To Get Worse,’ Forbes, 11 September, viewed 30 March,
3. Hyken (2018) articulates sound advice for any company giving the example of Kodak. The digital cameras replaced Kodak traditional mean and made it convenient-almost free to take pictures. Same as, Uber-transforming and disrupting the old taxi industry, was driven by technology and an engine to enhance customer experience. Soon Uber will put digital ads atop on 1000 vehicles in Dallas, Atlanta and Phoenix that is expected to get profitable booster for ride hail leader (Burns 2020). Collaboration of Adomni an outdoor ad-tech with Uber, is an ubiquitous advertising linkage that cuts through clutter with level of street engagement. As Uber doesn’t own fleet of vehicles, drivers will be incentivized around $300 to install ad stop on their vehicles and $ 100 each week if they drive more than 20 hours. The experimenting of this idea of ad content for years has today been confined to company’s app and to the car itself.
The main two key-takeaways that drive successful career opportunities in digital business are Customer Service Experience and innovative ideas. It disrupts the competition and creates loyalty reducing friction to gain more customers at the door. The innovative ideas, that provide convenient solution and experience, could disturb not only the competitor but also the entire industry.
Hyken, S 2018, ‘Uber Your Business Before It Gets Kodak-ed,’ Forbes, 19 August, viewed 30 March,
Burns, J 2020,’Uber Will Now Offer Its Own Taxi-Style Ad Service On Drivers’ Cars,’ Forbes, 29 February, viewed 30 March,
4. Disney instigators have leveraged big data in innovative ways to intrigue developments at the Disney Land (Marr 2017). It introduced magic wrist band equipped with RFID technology that has made the entertainment venue a giant computer for incredible experience. The band works as credit card, ticket, hotel keys, and sensor locating the customer at park. The innovation figured out a negative experience being in long queues earlier into positive one by getting things a click away. It is the holy grail of customer service. A Disney magic band that will do all the magic in ago, but it takes time to align with the technology (Sylt 2019). However it isn’t a case to wave a magic band and get all technologies to Paris from US as they are different entities with variation in technology and regulation. Though, both the counties aim to provide seamless experience to guest, from arrival until the check-out.
The key-takeaways that are necessary for future career in digital business are pace of implementation of IoT system and valuable customer experience. Complying with changing vision and technologies, to make decision using vast information could be useful. Technology associated with vision can be fragmented. Determining how to align technology with digital business goal is a real measure to success. Every business aims to get valuable customer experience as they are the important factor for growth in any business. An emotional and loyal connection to any brand can improve customer satisfaction, their usage and expectations can help to improve decision making and implement required systematic strategies.
Marr, B 2017,’Disney Uses Big Data, IoT And Machine Learning To Boost Customer Experience,’ Forbes, 24 August, viewed 30 March
Sylt, C 2019, ‘Disneyland Paris Rolls Out Wireless Payment System,’ Forbes , 20 January, viewed 30 March,
