What's "Low Digitization" got to do with it? Got to do with it?

While Tina Turner belted out "It's physical.  Only logical" , she was right.  Love has nothing to do with "IT", but the integration of digitization into your business practices and how you do your work does.  Productivity increases are tied to digitization rates and industries are now being classified in terms of either high or low digitization integration.  Business Dictionary.com defines digitization as:  

Conversion of analog information in any form (text, photographs, voice, etc.) to digital form with suitable electronic devices (such as a scanner or specialized computer chips) so that the information can be processed, stored, and transmitted through digital circuits, equipment, and networks. See also digitalization.

Digitized information is important to a business - if it wants to grow, not just because of efficiency gains, but because of intelligence gains.  In retail, the drive to deliver personalized content to "digital natives" or Generation C:

Consumer pull: Consumers, and particularly Generation C (the generation of young people who, by 2020, will have always lived in a primarily digital world) are already fully adapted to the digital environment. They naturally expect to always be connected, are willing to share personal data, and trust referrals from their closest friends more than from well-known brands. ...

This personalization is BIG business and is often referred to as “The Internet of Me.”  

"The Drive to Digitization and the Impact on Your Business and Customers", Karin Surber, Cisco Blogs, February 18, 2016

Industries such as the construction industry have had these losses quantified:

The construction industry has long been plagued by both low digitization and low productivity from its workforce. A $1.5T annual industry in the US alone and a $10T opportunity globally, the construction industry is projected to keep growing as new infrastructure is required to keep up with the global economy.
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Because of the low productivity, the construction industry suffers from large amounts of waste and lost opportunity. For example, 98% of construction projects face cost overruns or delays with the average project delayed by 20 months and 80% more expensive than planned. In the US, this waste equates to approximately $500B lost per year.

Welcome Unearth  to Madrona!

To be "Amazoned" is now a thing.  

Amazon became a verb because of the damage it can inflict on other companies. To be Amazoned means to have your business crushed because the company got into your industry. 

"How Amazon's Bottomless Appetite Became Corporate America's Nightmare" by Shira Ovide, Bloomberg, March 14, 2018 

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So, for a growing business, digitization and its impact on planning is not a matter of "if", but when.  And while the "when" doesn't have to be yesterday, contact us for your hour-long imagination session with Vizzy Solutions to explore how you can gain the competitive advantages of the digital revolution without the costs of building out your IT infrastructure.

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