Ray Wang Disrupting Digital Business

Ray is right.

  1. Digital disruption is more than just a technology shift; it’s about transforming business models and engagement.
  2. In an attention economy, businesses move from selling products and services to keeping brand promises.
  3. New unit cost pricing models enable disruptive business models to thrive.
  4. Data is the foundation of digital business. Every touch point, every click, every bit of digital exhaust is relevant insight.
  5. If 20% of revenue is not a company’s insight stream by 2020, they won’t have a digital business model.
  6. Digital winners will figure out how to be the content, the network, and the arms dealer.
  7. Digital artisans emerge as organizations with the best math and design will dominate in a winner-takes-all world.
  8. P2P democratizes distribution, stripping out friction and transaction costs.
  9. Businesses must design for customer segments of one.
  10. Companies must serve five generations of customers and workers by digital proficiency, and not by age.

He goes on to define the ARTISAN

Authentic in interactions
Relevant; bring context to life
Transparent in interaction and engagement
Speedy; must be able to act very quickly
Artistic in design and storytelling
Non-conformist; doesn’t follow the rules

Most businesses today either provide content (information or goods), distribution, or enabling technology. There are four big digital winners that have figured out how to integrate all three components: Apple, Amazon, Microsoft, and Google. These companies have figured out how
to trade on trust and identity, providing consumers a balanced tradeoff of private information
and convenience. –Ray Wang