Porter’s 5 forces – a model taught to every business student across the world. A feature worth noting here is that not all businesses, big or small, seem to incorporate the essence of this really basic framework in their business development strategies.
The world today is driven by data. Companies are pumping in a major chunk of their revenue into advanced analytics and machine learning that help them personalize their products for the customers. Cost leadership and first mover advantage are often seen being trumped by replacing intuition with statistical insights. Computer applications and internet based e-commerce companies have traditionally been using analytics to increase their profits manyfold, however, the consumer goods industry which seemed distant from the buzz that machine learning and analytics created is now seen to be embracing the construct. Continue reading Biz (1.1) – Strategic and transformative nature of information Technology