Archive for the ‘Social Business’ Category

How to Gain 20/20 Foresight in the Digital World

Friday, July 22nd, 2011

“Hindsight is 20/20”. We can always look back and see how past events have contributed to current situations. Hindsight is often used to measure the progression of governments and economies, and in the business world financial reports and assessments are all based on past performance. Yet in today’s fast paced digital world, hindsight alone is no longer sufficient. Knowing where you were, or even where you are, is not enough. Today’s requirement is for 20/20 Foresight – the ability to assimilate hindsight with current insight to define the road ahead.

New converged technologies are forcing digital life behavioral changes in the way we communicate and socialize, and are bringing such dramatic change to the workplace that, for many businesses, planning ahead and preparing for future challenges and opportunities are often seen as overwhelming tasks. 

Digital life is clearly having a massive impact on humanity on both global and personal levels. Through digital world converged technologies, cultural barriers are dropping, industry boundaries are blurring, consumerism is rising, and the attitude and behavior of people are changing faster than “rearview mirror” measurements can hope to keep up with. As a human race we must devise new frames of thinking, new tools for measurement, and new approaches to meeting the needs of us all.

20/20 Foresight provides organizations with valuable perspectives on consumers’, customers’, constituents’ and clients’ needs and wants of tomorrow, rather than those of yesterday or today. The “low hanging fruit” for grabbing quick returns may seem attractive now but it won’t provide a sustainable business strategy in the long term. It is the anticipation and foresight of peoples’ needs and wants of tomorrow that will increasingly determine how sustainable a strategy really is.

By identifying those factors that are contributing to major changes in human behavior – factors such as converging technologies and industries, impending baby boomer retirements, global tribes, and the mobile cloud 3.0 – and forecasting future digital life trends, we at KeySo Global have begun to derive actionable predictions; these, in turn, provide early identifications of both opportunities and threats that will help to ensure the long lasting success of any strategy.

20/20 Foresight has moved from a nice-to-have competitive differentiator to a must-have survival mechanism. To make this transition, companies must adopt a digital mind set and rethink how they can more effectively interact with the collective knowledge base outside of their business, to better understand the shifts in market trends that are occurring across the globe. At the same time they need to learn how to blend these fresh insights with their existing in-house aggregate knowledge in order to reshape out-of-date business models and become a truly “social business”.

If you’re open to change and willing to learn how to create a new digital strategy based on 20/20 Foresight that will lead to sustainable long term growth, we at KeySo Global can show you how. Contact us at info@keysoglobal.com, +1-847-478-1633 or visit our website www.keysoglobal.com.

Steve Benton, Principal, KeySo Global