What is unique about the disruption happening in business today is the rapid pace of change. During past revolutions, firms had many years, even decades, to adapt. Today, that is no longer the case. One indicator of just how fast the landscape is changing is the longevity of companies on the S&P 500, an index of leading US companies.
Roughly a hundred years ago, the average lifespan of a company listed on the S&P 500 was 67 years. Today, that same average lifespan has decreased to just 15 years. This demonstrates that it is becoming harder for companies to stay ahead and experts believe that we’ll see this trend continue.
The bottom line is today’s organisations must adapt quickly to change, using new technologies that fuel competitive advantage, or risk getting left behind. That’s why it’s imperative to make the most of your data, the cloud and your intelligence capabilities; all of which help companies accelerate their speed of business through smarter decision-making and faster execution.
In our latest eBook ‘Powering up today’s Enterprise’ we explore how Analytics and AI combine to build the business of tomorrow. We discuss how Irish Enterprise’s can power up their competitive advantage with insights that detect patterns, engage customers, spot trends, empower employees, and deliver better business outcomes. There is a world of performance benefits that spring from truly unified data and we explore them all in the ebook.
– Teddy McCarthy, Managing Director, Client Solutions