Below we outline the four pillars and how to invest properly to set yourself up for success. How public utilities use analytics to improve interactions with customers, 6 ways data analytics are advancing the enterprise, Do Not Sell or Share My Personal Information. Following an initial pilot in Tasmania (Bunnings is not rushing this after the UK debacle), click-and-collect will be rolled out in Victoria and then the rest of Australia. View my verified achievement from Project Management Institute. To learn more about how we can help your business, contact us today. "Having [data analytics] as a central responsibility is a good place to have your thinking happening, as it being lifted out from just being an operational issue, and makes it clear this isn't something that only IT needs to worry about," Tweedie said. How public utilities use analytics to improve interactions with customers (TechRepublic). Digitizing operations is a fundamental pillar of digital transformation in the sense that, without it, your company will be left behind by more efficient operators. Consider the chart below: However, these are all American-headquartered companies. He says the software has an open architecture, it sits in the cloud, it is low cost and it is flexible. [You] might as well just break it yourself in a controlled environment and learn from it, and thats where PagerDuty plays a key role.. Harvey points out his own team takes a highly disciplined approach around capital and investment, knowing what benefit levers will be pulled and what will be delivered before they embark on any project. One of the biggest barriers to true digital transformation success is change management. But other times it involves rearchitecting the system to meet the needs of today customers. Nobody is truly a leader if they are in charge and keep things as they are. Digital transformation is not a destination; it's a permanent state of evolution. Wesfarmers OneDigital has set 'SaaS model' standards for itself, supported by service standards, engineering practices and tools that together create a foundation for the nascent digital and data arm to grow. Wesfarmers has its sights set on realising strategic value and transformation through building a market-leading data and digital ecosystem. It does require time and technology but the benefits, measured by the central KPIs, are savings in time, money, and people to solve business problems and serve customers. Let's look at five of the most exciting digital transformation trends shaping the future of business and how they can help your business grow in 2022. As for Wesfarmers share price, after a rough end to 2018, this year has seen it steadily climb, rising approximately 23% year to date. On Thursday, the retail giant group reported net profit after tax dipped by 14% from AU$1.41 billion to AU$1.21 billion for the half year. Uses PagerDuty as part of its foundational setup. In the final stage of the process, you can evaluate results or impact. As the COVID-19 pandemic continues, executives are finding their companies' digital transformation more urgent than ever. Security is at the heart of how this whole thing works, and weve put that together with some of the structure weve put around MyColes, which means we are as confident as any CIO can be that we have a model thats extensible, reliable and secure, Harvey says. View my verified achievement from Project Management Institute. The fundamental meaning of transformation is not about replacing old technologies with new ones, or capturing high volumes of data, or hiring an army of data scientists, or trying to copy some of the things Google or Amazon do. Typically, companies begin with IT uplift and digitizing operations, followed by digital marketing and new business building. Wesfarmers is also accelerating its digital transformation efforts across other parts of the group. Having run a corporate BYOD program for the past three years and maintained thousands of devices in its network, the latest step has been bringing BYOD to store managers. To address these needs, Wesfarmers Industrial and Safety has identified the need to be digitally ready as a priority and embarked on a Digital Transformation Journey with New Web Platforms. Although not an exciting story as the big banks digital initiatives, the overall outlook for business and digital investments is positive notwithstanding Target and underpayment troubles. Despite years of discussion, understanding what digital transformation means for established companies remains a daunting challenge. These Experts Are Racing to Protect AI From Hackers. Industrial and safety comprises four main businesses: Blackwoods, NZ Safety Blackwoods, Workwear Group, and Coregas. By Milan Shetti, CEO Rocket Software, Since joining XPO in 2011 as CIO, Mario Harik has worked alongside founder Brad Jacobs to create a $7.7 billion business that has technology innovation in its DNA. As the figure below shows, five components are needed to execute an organizations digital transformation: Digital transformation starts with people, which is a useful reminder that whenever we talk about data especially valuable data there are humans at the end of it. Investment in divisional digital capabilities will continue and is expected to support enhancements to customer value propositions, expansion of addressable markets and delivery of operating efficiencies.". Catch's vision is to be the trusted place where Australians start their shopping journey. There arent many roles that have such a diversity in focus and where you are literally down in the weeds working out how youre going to apply the latest patch to Internet Explorer, to the next day thinking about what service-oriented architecture we should be putting in place based on the assumption that well be deploying different types of sales terminals in different locations and channels long-term.. We interviewed four global leaders responsible for their organizations' digital transformation, each in different business and technical functions, industries, and geographies, and found that they were already approaching transformation in this waybut without a clear language and framing to guide them. At Docuworx, we facilitate the digital transformations of business and organisations across Asia-Pacific, specialising in document management and workflow automation. Although Targets performance has been below expectations, Kmart has budgeted $15mn for technology and digital enhancements aligning with growing consumer expectations and changing shopping behaviour. Except this is not really the final step after you evaluate results, you need to go back to the data. Results. Data & digital was one of the key areas of focus for the group, which said it will continue to invest in its e-commerce and efficiency capabilities as well as improving back-end systems and processes to support future growth. Ive loved making significant changes with my team and really making a difference to the way our team members work at Coles, and the way our customers shop with us, he says. Chanticleer is Australia's pre-eminent business column. This almost-great Raspberry Pi alternative is missing one key feature, This $75 dock turns your Mac Mini into a Mac Studio (sort of), Samsung's Galaxy S23 Plus is the Goldilocks of Smartphones, How the New Space Race Will Drive Innovation, How the metaverse will change the future of work and society, Digital transformation: Trends and insights for success, Software development: Emerging trends and changing roles. Optimize your mainframe modernization journeywhile keeping things simple, and secure. As a startup Id love cloud, but Coles is not a startup. These Experts Are Racing to Protect AI From Hackers. Catch is an online marketplace which commenced operations in 2006 and was acquired by Wesfarmers in August 2019, bringing highly complementary digital retail and fulfilment capabilities. Leadership is always an argument with the past, with tradition it is the essential task of leaders to create a bridge between the past and the future, and in that sense digital transformation is not an exception to the rule, but the name we give to todays bridge. Testing RFID blocking cards: Do they work? Safety -identifying contributing factors to safety incidents, Localisation- in-store product ranges are tailored to meet local conditions, Inventory optimisation- to improve in-stock position and increase productivity, Personalisation- for personalised marketing and customer interactions. The point here is not to be right, but to find better ways of being wrong. But that's an end-state that we want to move towards so I think it's really about at first -- in the initial stages -- allowing [for the development] of business priorities such as how can we help make better decisions faster," Lowthorpe said. Broadly speaking, these capabilities will span four use cases: Wesfarmers is also accelerating its digital transformation efforts across other parts of the group. Because of the back-end technology, were able to deploy this information in very easy-to-use, graphically intuitive front-ends on tablets to people in our shops and at work.. Data analytics are now an established, valuable tool for businesses, but the way they are used is rapidly changing. The focus is to get our foundations right as we grow and solve different problems for all of the [Wesfarmers] businesses, Madan said. Testing RFID blocking cards: Do they work? In addition, there are obvious things you can do around leveraging the loyalty and Fly Buys programs, which are both exceptionally great value for our customers. Going beyond what the legislative requirements is something I think creates sort of a threshold for ethical standards which is a really good mindset to have: are we protecting this asset in a way that customers want us to?". Catch operates an online business model offering branded products on a first-party basis and a third-party online marketplace. Wesfarmers OneDigital has set SaaS model standards for itself, supported by service standards, engineering practices and tools that together create a foundation for the nascent digital and data arm to grow. Established in 2022, Wesfarmers OneDigital brings together the Groups digitally native businesses, including the Catch marketplace, the OnePass membership program and the OneData Group data asset. It will roll out click-and-collect nationally this financial year. What is needed is a shift in mindset, culture, and talent, including upskilling and reskilling your workforce so that they are future-ready. Bunnings announced setting up of a Technology Centre in Bengaluru which is not surprising. Against that I always need to balance the right levels of robustness, security and location that means Im delivering the right outcomes for customers.. Typically the CEO, or head of sales, leads such initiatives because of the requirement for investment, agility, but most importantly a team capable of running experiments to validate the new business opportunity. Revenue remained stable at AU$17.7 billion, which was partly underpinned by the 37.5% uplift in online sales across the group to AU$1.9 billion, excluding Catch. The key to success is simply getting clarity that digital transformation is not one thing, but rather many different things. Our database provides customer insight and contextual information on which enterprise applications and software systems Wesfarmers (Bunnings Warehouse) is running and its propensity to invest more and deepen its relationship with SnapHire, SAP, UKG or identify new suppliers as part of their overall Digital and IT transformation projects to stay . View my verified achievement from Project Management Institute. IT should be helping marketing evolve the platforms, tools and assets it can deploy in the digital space, making it easier to exploit the opportunity to be had in digital, he says. Deloitte US | Audit, Consulting, Advisory, and Tax Services Closes in 19 days. The inverse of this is, of course, Netflix, which is now a $122 billion-dollar company. At the moment, the cloud isnt really geared for that; its geared for quick and easy renting of capacity. Wesfarmers says COVID-19 disrupts H1 operations but bumps up online sales, Wesfarmers investment in digital assets pay off as online sales jump 57%, Kmart Group to shift its mainframe to the cloud, AWS skills training for 1,400 Kmart and Target employees, Do Not Sell or Share My Personal Information. According to Scott, Wesfarmers increased its investment in digital capabilities during the period, particularly in building out its data and digital ecosystem, which helped support the. Over the past five years, Wesfarmers Bunnings hardware store chain has been the main target of growth expenditure, according to the FY19 Strategy Briefing Day. This has now been fixed. Based on our collective research on companies undergoing digital transformation, we offer a simplifying framework to cut through the confusion and conflicting demands. The results themselves become part of the new, richer, dataset, which will be augmented and improved with the findings of the process. This material may not be published, broadcast, rewritten or redistributed in any form without prior authorisation. You have to enjoy it to do this job and youve got to be constantly testing whether youre pushing technology because its cool, or if youre pushing solutions and options that will make a difference to the customer and team.. Digital transformation can mean a lot of different things. Although data has been hailed as the new oil, just like with oil, the value depends on whether we can clean it, refine it, and use it to fuel something impactful. But for Coles group manager of IT, Conrad Harvey, true business transformation comes from getting others to want it and lead the way. Thats core to our business.. This is more than just swapping analog processes for digital ones; it is about rearchitecting the organization and the digital operations to serve customers better. He added that AIOps to detect anomalies and correlate events is also potentially on OneDigitals radar. This leads to costly upgrades. According to Scott, Wesfarmers increased its investment in digital capabilities during the period, particularly in building out its data and digital ecosystem, which helped support the increase in online sales across its retail business. This almost-great Raspberry Pi alternative is missing one key feature, This $75 dock turns your Mac Mini into a Mac Studio (sort of), Samsung's Galaxy S23 Plus is the Goldilocks of Smartphones, How the New Space Race Will Drive Innovation, How the metaverse will change the future of work and society, Digital transformation: Trends and insights for success, Software development: Emerging trends and changing roles. Melbourne, VIC. In short, the critical part of digital transformation is not digital but transformation. Our world has changed dramatically in the past two decades, and adapting your organization to these changes cannot be achieved overnight, or simply by buying new technologies, or collecting more data. At Wesfarmers we believe sustainability is about understanding and managing the ways we impact the communities and environments in which we operate, to ensure that we continue to create value in the future. More specifically, Wesfarmers last year invested in the creation of an Advanced Analytics Center which uses purchasing and other customer data to calculate and calibrate the value of customer offers and loyalty programmes. Digital transformation takes time, and is a series of evolutionary, and occasionally disruptive, steps. However, as AI, machine learning, and big data becomes increasingly used across organisations, Lowthorpe acknowledged that ethics must be maintained as a priority in any data-driven business strategy. Big data and analytics are becoming mainstream and vital to business operations and customer relations. But with the right expertise and tools, data can be turned into insights. It is useful to remember this, because the real benefits from technology are not hard (i.e., cheaper systems or infrastructure), but soft (i.e., capturing valuable data). Bunnings conducted a pilot program for click-and-collect at a store in Tasmania to ensure the new IT systems were working properly. The benefits of and reasons for the initiative need to be owned and communicated from the . The framework outlines. Its problematic when companies decide to embark on a digital transformation agenda without having a clear definition, let alone vision, forwhat it means. Wesfarmers is hoping to transform the way its organisation uses data, making data analytics a business strategy instead of a side effect. It is going to break. 2023 ZDNET, A Red Ventures company. "When we talk about use case and they're saying where are the results with [this process], it helps in terms of getting that alignment and management of expectations, and when we talk about how do we think that use case is going forward, we've got that reference. The key to cutting through the confusion is to see that digital transformation is not a single thing, but a multi-faceted journey with differing goals depending on your industry and digital maturity. Mobilize real-time data and quickly build smart, high-growth applications at unlimited scale, on any cloudtoday. The OnePass program provides members with additional benefits and convenience when shopping with the Groups retail businesses. Wesfarmers Managing Director Rob Scott said the change would bring together the Groups pure digital businesses. In other words, you will only transform when you have managed to change how people behave, and how things are done in your organization. Often this is the first step on the digital journey. We know upfront whether we expect a project to improve store performance, reduce effort to be allowed to be redirected to somewhere else, or to improve our decision-making in terms of margin, investments, or otherwise.. In its most basic form, this pillar can mean swapping out analog activities with digital ones. Here's how. He says the legacy systems at Blackwoods, combined with its extensive range of products, had combined to make it impossible for staff using a computer to check inventory in each of the seven Blackwoods distribution centres in real time. He was heavily involved in the transformation under. Its online operations are supported by a leading technology platform and fulfilment centres located in Victoria and New South Wales. It is no secret Bengaluru is the destination to recruit tech talent and Bunnings doesnt seem to be missing on that important tech link. Through all of his work, Harvey says innovation and ideas have come both from within IT, as well as across the organisation. Also read: The top Supply Chain Trends according to Gartner, Also read: Coles re-platforms digital channel and doubles online capacity. The . Blackwoods, which is the largest provider of industrial and safety supplies in Australia and also part of the group, is currently in the process of replacing its 30-year-old Focus COBOL-based system with a new Microsoft Dynamics ERP. This means we can now get data out of the warehouse at a pace that was previously unthinkable, Harvey says. Click and Collect, an important bridge between click and brick, continues to be a growth element for the Wesfarmers companies. Time is Running Out, Motorola's handy Bluetooth device adds satellite messaging, Linux 6.2: The first mainstream Linux kernel for Apple M1 chips arrives, Sony's new headphones adopt WH-1000XM5 technology at a great price, The perfectly pointless $197 gadget that some people will love. Marcelo brings positive energy to. Everyone who has been part of digital transformation describes it as a journey. "If we relied critically on large datasets, instead of removing human decision making and making decisions easier, sometimes you end up just reinforcing those biases.". As noted at the recent half year results, more detail on Wesfarmers OneDigital will be provided at the Strategy Briefing Day in June 2022. As Ajay Agrawal and colleagues argue, even with the best AI, data science, and analytics, it is up to us humans to work out what to do with a prediction. Other current mobility projects are trialling a tablet ordering solution for produce, and a mobile-based picking solution for online. Harvey downplays any questions about who should be responsible for the technology or leading the way, saying the impetus should be efficiency and customer delivery. On the list of Harveys biggest customer achievements in the last five years is deploying automated replenishment, which he claims materially improved the availability and efficiency of Coles supply chain. In late spring 2020, we surveyed senior executives, digital transformation . Digital is not purely about the colour of the screen on the website, its what assets we as a company should be building that allow us to leverage multiple marketing initiatives and across multiple touch points. For example, when a European retailer changed its platform to serve customers better, it discovered it could also offer other retailers products with their improved ecommerce platform and digitized logistics, enabling the retailer to create an ecosystem of products and services from third party sellers to offer to their customers. Wesfarmers has announced that Catch will join the Group's new data and digital division, now called Wesfarmers OneDigital. As noted by customer experience expert Blake Morgan, when done strategically, digital transformation can improve stock prices and revenue in the long run. This is why talent plays such a critical role in unlocking (or indeed blocking) your digital transformation. In this role you will be responsible for optimising data platform engineering and architecture, as well as designing and building data products. Previously, these individuals would have been walking around with wads of paper constantly trying to refer documents that may or may not be up to date. The third pillar is putting information in the hands of team members. Well, one Australian conglomerate which has recently begun to embrace digital transformation is Wesfarmers (ASX:WES). He says the company rejected SAP and Oracle because these software systems are not only expensive to install but have to be customised to suit the business. Wesfarmers Ltd (ASX:WES) is planning for Bunnings growth to be fuelled by e-commerce. At Wesfarmers we believe sustainability is about understanding and managing the ways we impact the communities and environments in which we operate, to ensure that we continue to create value in the future. Think about analog and informal small businesses, such as a stand in a Turkish bazaar: the salespeople have a great deal of access to, and knowledge of, their customers and clients, but its all trapped in their minds. Bunnings, Kmart and Officeworks continue to deliver topline growth for Wesfarmers while Target was below expectations. We call this digitization, or the process of datafying human behavior, translating it into standardized signals (0s and 1s). That said, there is one thing that hasnt changed namely the fact that all of this is just the new version of an old task or challenge every leader has always faced throughout human history: to prepare their teams and organizations for the future, and create a better future. Do you need one? 6 ways data analytics are advancing the enterprise (TechRepublic). In the final stage of the process, you can evaluate results or impact. Meanwhile, the ATO believe successful organisations are those that utilise data analytics, IT, and business together. Do you treat it as though it is a part of them? He also said that OneDigital had used a secure-by-design or privacy-by-design approach to service creation, and again that this is possible because the operation is new. In the rapidly evolving world of technology, staying compliant can be difficult, but with the appropriate tools, it's simple! Which pillar is the right starting point for your company depends on your context, needs, but also your digital maturity. In the same way, a London cab driver or a Parisian bistro waiter might have in-depth knowledge of their customers and what they want, or a small business founder might know the 20 employees that make up her workforce rather well, without needing much tech or data. The focus for the ATO, according to Rucinski, will be implementing data analytics and AI to "enhance the human ability to make judgments" so humans can ultimately make the final decisions for matters. Of the online sales total, Kmart Group, which includes Kmart, Target, and Catch marketplace, contributed AU$1.4 billion, following a 22% year-on-year increase. Wesfarmers finally goes digital Chanticleer is Australia's pre-eminent business column. As Stanfords Erik Brynjolfsson noted, a major reason for the lack of productivity gains from new technologies, including AI, is the failure to invest in skills especially the lack of reskilling and upskilling once employees are in your workforce. While hes comfortable on the strategic high ground and being a business-led executive, Harvey doesnt believe this should take away from the day-to-day operational role CIOs need to continue playing in their organisation. Like in any journey, you need to decide where to go first. And you almost wonder whether it will ever model itself on that, because its always going to be a relatively low use case. Lydia joined WES corporate office in Business development and commercial. For example, a large retail bank which we studied entered a range of different industries, such as transportation (ride sharing), content distribution (music and TV), e-health and retail marketplace just to name a few. NAB Digital Option To Restrict Gambling Transactions, IBM X-Force Threat Intelligence Index Uncovers Surge in Thread Hijacking, Synopsys OSSRA 2023 report reveals the growing need for Software BOM, As Digital Card Platforms Expand Globally, Over 320 Million Credit Cards To Be Issued, More than 80% of Australian Businesses Are Reskilling IT Workers, The rising importance of AI in Precision Medicine as spending increases, Thoughtworks Technology Radar Foresees ML Propelling IoT. Here's a look at how modern tech fits into the customer service puzzle. He was heavily involved in the transformation under Wesfarmers and has maintained a high-profile and impactful role during and post-acquisition. Coles has been running the insights applications for eight months across 1200 iPads in-store and the Coles Store Support Centre, and is rolling out a similar application for Coles Express. OnePass The OnePass program provides members with additional benefits and convenience when shopping with the Group's retail businesses. "When you think about customer centricity, particularly the use of behavioural data, it can be quite challenging to do that without data so there its relevance becomes a lot closer to the surface. Lenovo Late Night I.T. In fact, the essence of digital transformation is to become adata-driven organization, ensuring that key decisions, actions, and processes are strongly influenced by data-driven insights, rather than by humanintuition. Having the right leader, resources, and measures of success for the journey towards each different pillar can contribute greatly to success. We are getting exceptional high take-up of that, and its an example of a win-win for both Coles and our store managers, Harvey claims. So the investments in Catch digital capabilities would be accelerated to leverage growing consumer shift to online. One business strategy that Wesfarmers has adopted, Lowthorpe explained, is a one-day program focused on data analytics for leadership teams that teach them about data analytics, including the differences between advanced analytics and business intelligence reporting. When you think about hardware stores, digital technology is probably the last thing that comes to mind. Most businesses have these opportunities at hand but seizing them requires a greater digital maturity than for an IT uplift or digitizing processes. The performance of the Industrial and Safety business was disappointing, reflecting the impact on Blackwoods earnings from ongoing investment in customer service and the enterprise resource planning (ERP) system, Scott said in Wesfarmers FY19 results briefing in August. Technology is a focus for the business. Wesfarmers is closely monitoring the COVID-19 outbreak and its impact on product availability due to supply chain challenges. He was initially brought on as a program director for a merchandising systems refresh project, before taking the role of general manager of IT strategy, architecture and program delivery in 2004. Illustration by Joi Fulton. "This included investment in the shared data asset and scalable customer data architecture as well as the continued development of capabilities within the advanced analytics centre, specialist technical expertise, and robust data governance," he said. As a matter of fact, the most interesting, captivating, and curious insights will go to waste without a solid plan to turn them into actions. My head of digital and loyalty systems gets on exceptionally well with the head of digital marketing, and the two understand how they can add value to each other. Digital transformation can be bewildering and exhausting for leaders and employees alike. 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