Industry articles

Digitization Across Industries

“When business leaders talk about going digital, many are uncertain about what that means beyond buying the latest IT system. Digital leaders stand out from their competitors in two ways: how they put digital to work and how intensively their employees use digital tools in every aspect of their daily activities.”

McKinsey Global Institute (MGI) looked into digitization across industry sectors and found a large and growing gap between sectors, and between companies within those sectors.

You can read more about the McKinsey insight Which Industries Are the Most Digital (and Why)? (Published by the Harvard Business Review). For Obzervr and other innovative Startups attempting to disrupt traditional ways of doing things, the McKinsey research makes compelling reading.

McKinsey uses 3 categories for assessing an organisations digital status:-

  1. Digital Assets: investment in hardware, software, data, and IT services
  2. Digital Usage: extent to which companies engage digitally with customers and suppliers
  3. Digital enablement of employees: tools for staff

McKinsey found what really sets the leaders apart, however, is the third category: the degree to which they put digital tools in the hands of their employees to ramp up productivity. Companies in leading sectors have workforce’s that are 13 times more digitally engaged than the rest of the economy. In lagging sectors, the digital engagement of the workforce can be erratic; some organisations have made progress in certain areas but have not yet addressed foundational tasks their workers perform.

Technology still hasn’t penetrated much of the everyday work performed by many, which means that most businesses are missing opportunities for greater efficiency.

The McKinsey study illustrates graphically the current status of digitization across sectors. Obzervr’s Data Management platform was specifically designed to address inefficient daily processes by the very sectors that McKinsey show to be relatively poor in digitization from the perspective of enabling employees in the Field.

These sectors include:-

  1. Oil & Gas
  2. Mining
  3. Utilities
  4. Construction
  5. Healthcare
  6. Government
  7. Agriculture

There are ‘low hanging fruit’ for organisations to achieve immediate results within 4 weeks. If you can improve Field Data Management by 20% – what is that worth to your bottom line?

However, we are seeing that through digitization our customers are streamlining processes across the organisation. Asset Management, Safety and Risk, Production Data Management, Compliance, Environment teams are all able to benefit. By leveraging this standardization, customers can interpret actionable and more accurate data in near real-time to make evidence-based decisions.

If you are in one of these sectors and looking transform the way you value data, please give us a call to discuss your current situation and how we may be able to help.

[email protected] or Call Camilla on 1300Obzervr

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