Cukier makes the point that no area of human endeavour or industrial sector will be immune from the complete shakeup that Big Data is about to bring, as it transforms society, politics, and business. As he says neatly “More isn’t just more. More is new. More is better. More is different.”
Although there are still limitations (usually based on privacy issues) on what one can get and do with data, most of our assumptions about the cost of collecting and the difficulty of processing data need to be completely overturned.
He sees this new world of data impacting on two main areas of public policy and regulation:
Employment: we can expect a wave of structural unemployment to spring from the technology in the medium term.
Privacy, as collecting data happens invisibly and passively, as a by-product of another service.
Cukier envisions Big Data changing business, and business changing society. He hopes that the benefits outweigh the drawbacks, but remains ultimately cautious as he sees society as not very proficient at handling all the data that we can already collect. […]
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Professor Haim Mendelson addresses the evolution of business models while considering the huge impact of the advances in information technology. Taking a long-term view, he sees information technologies continuing to evolve along their current performance trajectory. He argues that the combined effect of mobile technologies, wearable devices and sensors, cloud computing, and “Big Data” technologies will refine the structure of future business models. To this end he envisions scenarios such as:
Customer intimacy agents being customers’ digital representatives in the marketplace, using data to find and solicit solutions that will make them better off.
Value chain coordinators matching supply and demand, assembling customized solutions and engaging in electronic customer-data-driven innovation.
Producers increasingly engaging in marketplace selling and data-driven innovations.
At the same he believes that traditional forms of innovation will continue to remain key differentiators, and that underlying business models will require continuous innovation which will likely take a traditional form, with breakthrough products still continuing to require traditional forms of innovation. […]
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Professor Day examines how the activities, responsibilities and design of the marketing organization are evolving to manage the uncertainties of the digital age. He states that this transformation will involve the interplay of three driving forces: the impact of digital technologies, the changing role of the Chief Marketing Officer (CMO), and emerging organizational designs.
The increasingly central role of customer analytics and Big Data, predictive analytics and customer experience mapping are allowing organizations to deploy their marketing resources more efficiently and effectively; in this regard Day sees the role of the CMO changing so as to accept the dual responsibilities of creative and accountable delivery. In this way the CMO needs to create a marketing culture that fully embraces desired values and behavior, and one which fully takes on board these new core metrics and measurements. […]
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Professors Guillén and García-Canal investigate the proliferation of the new multinationals. Many of these firms were marginal competitors until recently and are now challenging the world’s most accomplished and established multinationals. In their article they examine some fundamental questions in relation to this phenomenon. What common distinctive features do these firms share that sets them apart from traditional multinational enterprises? What advantages have made it possible for them to operate and compete not only in host countries at the same or lower level of economic development but also in the richest economies? How have they been able to expand abroad at such speed, defying conventional wisdom in relation to international expansion?
In answering these questions they redefine the established theory of the MNE. They find that in effect, globalization, technical change, and the coming of age of the emerging countries have facilitated the rise of a new type of MNE in which foreign direct investment is driven not only by the exploitation of firm-specific competences but also by the exploration of new patterns of innovation and ways of accessing markets. […]
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In her article Professor Adams examines how the company of the future will do business differently while understanding the value of its relationships and the resources and services provided by the natural environment. She sees that the globalization of business which has occurred over the last few decades has made some companies more powerful than some national governments, and has made it easier for some companies to exploit cheap labor, plunder natural resources, and cause serious consequences for the natural environment, human health and biodiversity through pollution.
In the increasingly complex world in which business has to evolve, she considers the need for integrated thinking and what that means for organizational structures and cultures; the traits of leaders of tomorrow’s companies; the connected company; new ways of thinking about value; and the role of transparency and accountability in the new business order. […]
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The article from the architects who won the competition to design BBVA’s new headquarters in Madrid describes the process of formulating the urban and architectural ideas behind the exciting new building that BBVA moved into in 2015.
They look at how the project had to find a very specific response to a unique architectural situation and also at how to create an identity that encourages new flexible models of collaborative working. Another vital issue was incorporating the criteria of sustainability as an integral part of the design process; this affected every decision, from the massing of the buildings down to the tiniest technical details. Herzog & de Meuron detail the collaborative process which demonstrated the maturity, perseverance and commitment of all parties involved; a successful collaboration which has resulted in a really outstanding building being produced, one which BBVA can call home and use in the next stage of its evolution. […]
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Evans affirms that we are undergoing a re-acceleration of technological change despite the global recession and that something sudden and dramatic is happening. One important aspect of this is how Big Data is reshaping business, and transforming internal organization and industry architecture. He goes on to explain that two information technology drivers are reshaping internal organization: business strategy and the structures of industries. The first is deconstruction of value chains: the breakup of vertically-integrated businesses, as standards and interoperability replace managed interfaces. And the second is polarization of the economies of mass, meaning that in some activities, economies of scale and experience are evaporating, while in others they are intensifying. He doesn’t consider Big Data as an isolated or unique phenomenon, but rather as an example of a wider and deeper set of trends reshaping the business world. In his article he describes how the broad logic of deconstruction and polarization of scale can be applied to the specific case of Big Data and the corporation, and finds that these apparently contradictory strategies are mutually complementary.
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Banks must urgently undertake a far-reaching technological and cultural transformation. The industry is swiftly advancing towards a new ecosystem. The emerging new competitors—mostly spilling over from the internet—are unburdened by cost legacies and closely aligned with the needs and characteristics of new “digital” customers. To survive and thrive in that environment, banks must leverage their key competitive edge, namely, the information they already have about their customers, turning it into knowledge to deliver a better customer experience.
BBVA began its transformation towards knowledge-driven banking seven years ago. This paper reviews the main elements of that process: the construction of a sophisticated technology platform which is already in operation today, and an in-depth cultural shift. Recently, with the creation of the Digital Banking Area, BBVA has addressed radical organizational change to drive forward a renewal of corporate culture and speed up the transition from being a highly effective “analog” bank — as BBVA used to be—to achieving its goal of being the first knowledge-based service provider of the digital age. […]
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There are all kinds of moral truths that see the world from different perspectives, and none of them have to necessarily be more right than the others. This underscores the significance of education: alongside family structure and cultural context, education has the capacity to influence every aspect of how we think about the world. It is crucial in our context of unprecedented globalization to put this powerful tool to use in the interest of tolerance and cultural understanding in ways that foster harmonious co-existence, and cultural synergies. When the fundamental importance of education becomes fully appreciated, it can be revitalized and adapted to encourage open-mindedness, inclusion and cooperation. […]
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In 1975, a report prepared by the Trilateral Commission, The Crisis of Democracy, signaled the pessimism and defeatism prevailing in Western democracies at the time about the future and sustainability of democracy.
The report reflected a deep economic downturn, as well as social and political turmoil. This crisis of democracy was tightly connected with concerns about “monopoly capitalism,” rampant materialism and corruption. […]
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