To survive the disruption and in order to thrive in the digital era, companies must transform themselves, redefining every element of their value chain. Due to the rapidly changing environment, the market still needs to understand and gain trust in what is behind this digital business transformation.
A growth mindset is necessary, as well as end-to-end expert assessment and transformation guidance. Digital Business Transformation is only successful and sustainable when you combine both Digital Culture and Digital Capability.
Digital Culture must be encouraged internally within the organization. That´s why leaders with digital vision differentiate between digital investment and digital advantage. The key elements for Digital Culture are to spread the digital strategy from top to bottom, in addition to the strategic definition of new roles and skills and commitment accross the board.
Regarding Digital Capability, it is important to start from the point that digital technologies are in service to offer excellence in the digital customer experience. It is a key tool to promote new business models and, above all, to offer digital operational excellence.
If predictive maintenance implementation is one of your digital business transformation goals, `Product-based´ and `Software as a Service´ business models are obsolete.
How are you going to ensure a successful business transformation towards predictive maintenance if you are only contracting software? Who is running the risk of that investment? What are you looking for? What do you really need?
The truth is that monitoring and predicting are not the same. Currently in the market, 96% are monitoring solutions, just 4% of the solutions are predictive digital services. 3% (out of the 4%) belongs to OEM own platforms. So, just 1% of the current market services are predictive specialized open suppliers.
Data has to be transformed into a monetizable asset. Suppliers have to demonstrate how they can make money out of data. “Black-boxes” are not an option for Data-Driven Businesses.
Predictive maintenance is a reality and it is offered as a Digital Transformation service which guarantees success.