The basic issue of winning and holding on to customers while also growing profits has consumed business professionals for generations. Solutions come and go, but the advanced technology explosion now demands that we approach problems in a quick and holistic way, writes Tom Puthiyamadam for Strategy+Business.
Workflow methods, like total quality management adopted in the post-war 20th century, gave way to software-led enterprise resource planning as technology developed. Then came the Six Sigma statistics and data-driven method for measuring and improving performance.
Over the past ten years, the shift away from manufacturing to a service-driven economy has made fast-paced change essential. Whether your customers are individuals or other businesses, technology has opened up much more choice – and people are ready and willing to explore it.