Data analytics are now an established, valuable tool for businesses, but the way they are used is rapidly changing. 1. The struggle to implement the new ERP system highlights how digital transformations may not always go smoothly. 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. Delivering a net growth of 5.7% after-tax profit, Wesfarmers boss Rob committed to digital strategy and technology investments preparing the group for future growth. This keeps them in the conversation and in the moment, but using the report as a way of informing the conversation on the shopfloor, Harvey explains. Typically, the CMO leads this initiative and should focus on KPIs such as return on marketing investments, reduction customer acquisition costs, and generation of a large amount of valuable data that can be used to acquire new customers and better serve existing customers. It is very easy in IT to lose sight of the money that has to be made, the customer offers that have to be delivered and the customer propositions that have to be put together, he comments. To the degree that we have meaningful insights, a story, a notion of what may be going on and why, or a model, we will be able to test this model through a prediction. 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. And with the results already under our belt, alongside our deeply skilled and resourced team of in-house data and analytics experts, I firmly believe we are well on our way! How about in Australia? If you are looking for digital solutions to win clients, build brand awareness, profile clients or simply sell online, then you are pursuing the digital marketing pillar. Closes in 19 days. Consider the chart below: However, these are all American-headquartered companies. At the moment, the cloud isnt really geared for that; its geared for quick and easy renting of capacity. By building the right cloud technology and orchestration today, we have options for the future. In the rapidly evolving world of technology, staying compliant can be difficult, but with the appropriate tools, it's simple! 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. Wesfarmers Chemicals, Energy and Fertilisers, People development, diversity and inclusion, Chairman and Managing Director's 2022 sustainability message, Bunnings collaborates with Indigenous artists through exclusive plant pots range, Bunnings support for flood affected communities, Bunnings launches national battery recycling programs, Bunnings expands fleet with all electric trucks. For example, in the past when PayPal sent payments via email, they had significant time to ensure regulatory compliance. 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. Moving your company forward in the wake of the pandemic. As a company rearchitects their processes, they also start to unlock more transformational possibilities. The point . Wesfarmers is also accelerating its digital transformation efforts across other parts of the group. Also read: The Key Drivers Behind Rising AI Investment in Australia. 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. Follow the topics, people and companies that matter to you. This pillar is different from the others in its focus on digital tools to interact and sell to customers. Based on our collective research on companies undergoing digital transformation, we offer a simplifying framework to cut through the confusion and conflicting demands. 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. Underpayment epidemic: Software Problem? The authors outline four pillars of digital transformation: IT uplift, digitizing operations, digital marketing, and new ventures. Learn howand get unstoppable. On top of that, weve changed the digital interactions. 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.. This showed the company had learnt the lesson of the dangers of rushing headlong into a project without sufficient preparation, as happened with the Bunnings expansion in the UK. Recognize the emotional side of digital transformation. The Bunnings pilot program in Tasmania was followed by the rollout of the Bunnings click-and-collect offering in Victoria in the first half of this year. According to Harvey, certain loads are always going to be difficult for large corporates to move into the cloud. It has employed the global firm DXC to implement the Microsoft Dynamics 365 suite of products. 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. Digital and omnichannel capability is a critical area for other retailers as well. The online sites, social media space and mobile phones are each a different touch point where we can change the customer experience. Summary. dtSearch - INSTANTLY SEARCH TERABYTES of files, emails, databases, web data. "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. We call this digitization, or the process of datafying human behavior, translating it into standardized signals (0s and 1s). Digital transformation is more than just a catchphrase, it is a global movement that is improving businesses and customer experiences worldwide. He was heavily involved in the transformation under. 5. Digitization and digital transformation can expose internal weaknesses that leaders should acknowledge and take a hands-on approach to tackling. The Rural Intelligence Platform uses artificial intelligence, machine learning, and cloud-based geospatial technology to give farmers the heads up on how their property is changing and is expected to change in the future. But other times it involves rearchitecting the system to meet the needs of today customers. The benefits of and reasons for the initiative need to be owned and communicated from the . 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. After years of talking about lifting its digital capabilities, Wesfarmers is finally putting its money where its mouth is with IT implementation projects costing $75 million at Bunnings and in the industrials division. Wesfarmers has announced that Catch will join the Group's new data and digital division, now called Wesfarmers OneDigital. But even getting to the insights stage is not enough. Digital may provide the opportunity to create new business models, new products and services, or even collaborate with a large ecosystem to create new sources of growth. Wesfarmers' managing director of industrial David Baxby is overseeing the implementation of Microsoft Dynamics 360 at Blackwoods. They are then taken through one stage of the conglomerate's use cases, such as identification, beta engineering, or the advanced analytics and implications, to highlight what role the various teams in the business play in applying the use cases, followed by this information being cascaded around the organisation. Everyone who has been part of digital transformation describes it as a journey. As part of the Bunnings digital transformation initiative, Wesfarmers says it is investing in specialised skill sets to accelerate its data and analytics capabilities. 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. AI can make predictions, and data can give us insights, but the so what part requires actions, and these actions need the relevant skills, processes, and change management. 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. Our diverse business operations cover: home improvement and outdoor living; apparel and general merchandise; office supplies;health, beauty and wellbeing; and an Industrials division with businesses in chemicals, energy and fertilisers, and industrial and safety products. One of the foundations is to apply SaaS model thinking to OneDigitals operations, such that its quality-of-service is the same as a Wesfarmers brand would expect from any vendor or partner it engaged. Do you need one? Testing RFID blocking cards: Do they work? CSIRO builds analytics platform to help Aussie farmers. 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. 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. Except this is not really the final step after you evaluate results, you need to go back to the data. It will roll out click-and-collect nationally this financial year. Do you treat it as though it is a part of them? Most businesses have these opportunities at hand but seizing them requires a greater digital maturity than for an IT uplift or digitizing processes. Wesfarmers finally goes digital Chanticleer is Australia's pre-eminent business column. Here's a look at how modern tech fits into the customer service puzzle. "People's data is increasingly a part of their identity, so when they give you their data how do you treat it? In support of this, recent research from IDC indicates that organizations which had begun an ERP cloud migration as part of a digital transformation initiative prior to the COVID-19 pandemic fared far better than organizations that didnt. Wesfarmers Chemicals, Energy and Fertilisers, People development, diversity and inclusion, Chairman and Managing Director's 2022 sustainability message, Bunnings collaborates with Indigenous artists through exclusive plant pots range, Bunnings support for flood affected communities, Bunnings launches national battery recycling programs, Bunnings expands fleet with all electric trucks. She has implemented a set of best practices and processes to ensure that they are truly transforming digitally. Although embarking on a digital transformation can be daunting and requires investment, many companies worlwide are starting that journey because they know it will pay off in the future. 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. Cloud Technology: Cloud technology has . The advanced analytics centre will assist in utilising data science and best-practice analytics to enhance our decision making, develop new business opportunities and help solve problems across the group in a range of areas including customer insights, pricing, ranging, salesforce effectiveness and supply chain management, Wesfarmers Managing Director Rob Scott said. Wesfarmers chief executive Rob Scott recognises digitisation is critical to the companys engagement with customers at a time when its retail operations are threatened by a proliferation of foreign online competitors, led by Amazon. When completed, an IT uplift provides your company access to up-to-date tools that offer increased employee efficiency, lower IT maintenance costs and increased employee satisfaction. Read:From big data to AI - Where are we now, and what is the road forward? 6 ways data analytics are advancing the enterprise (TechRepublic). The $30 million Bunnings project involves upgrading its online sales platform to enable click-and-collect, with $10 million spent in the six months to June 30 and $20 million budgeted expenditure this financial year. While Rucinski did not share how the ATO has dealt with changing its culture to align with this thinking, he did say the government organisation was working on processes that were not yet "front-line ready". Which pillar is the right starting point for your company depends on your context, needs, but also your digital maturity. It is no secret Bengaluru is the destination to recruit tech talent and Bunnings doesnt seem to be missing on that important tech link. Its online operations are supported by a leading technology platform and fulfilment centres located in Victoria and New South Wales. 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. Wesfarmers OneDigital Software Development Docklands, Victoria 2,347 followers We're an exciting new digital enterprise with big ideas, supporting some of Australia's most trusted and iconic. During the half-year, Wesfarmers also continued to build out its data and digital ecosystem. The first and ongoing strategy is an extensive replatforming of the groups structured data warehouses to Oracle Exadata boxes. This view extends to the question of who owns digital, as well as the rise of the marketing function in technology purchasing and implementation. Strong performance in Bunnings, Officeworks and Kmart businesses overshadowed by underpayment and Target troubles. Other current mobility projects are trialling a tablet ordering solution for produce, and a mobile-based picking solution for online. To get that right we really need to invest in getting our foundations correct - and thats where PagerDuty comes in, to make sure we are adhering to our SLOs [service level objectives] and our SLAs [service level agreements], he said. The Catch acquisition has also improved digital expertise leading to better execution and innovation. This is where technology gives way to analytics the science that helps us give meaning to the data. Whats vital is that people receiving and implementing the technology own the project and want the outcome, he claims. One of the most enjoyable things about being a CIO is that you have to balance real day-operational decisions and trade-offs against thinking about what system and platform I am going to need in three or five years time. The investments in data and digital transformation continue with an additional $10mn budget with the data and analytics initiatives enhancing productivity and inventory optimisation. This is where technology can have the biggest impact in the process of capturing or creating digital records of people (e.g., what they do, who they are, what they prefer, etc.). Reinforcing the importance of Catch to its digital strategy and online growth, Wesfarmers lured former Amazon VP Pete Sauerborn to lead Catch. Wesfarmers managing director Rob Scott has described the first half of the 2022 financial year as the "most disrupted period" for the company since the onset of COVID-19, due to extended government-mandated store closures and trading restrictions in Australia and New Zealand. 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. Whatever the challenges in future, Harvey says he couldnt imagine a job he could enjoy more than the one hes in today. As noted at the recent half year results, more detail on Wesfarmers OneDigital will be provided at the Strategy Briefing Day in June 2022. we equip you to harness the power of disruptive innovation, at work and at home. 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. He said that establishing trust is also critical, as OneDigitals model sees it engage with customers of existing brands like Kmart, Target and Catch, all of whom have existing expectations of customer experience. 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). The second priority is better leveraging unstructured data to gain new insights, and Coles is trialling solutions such as Hadoop to do that, he says. Leaders put in charge of a digital transformation feel pulled in many different directions, with competing demands from IT, marketing, sales, and operations. The digital transformation happening inside Wesfarmers' industrials division presents a good case study of the pitfalls and opportunities inherent in the implementation of new technology. OneDigital broke cover in April, and has since gone on to unveil OnePass, a subscription program that consolidates products from across Wesfarmers' retail brands, and offers member-only prices as well as free delivery on many items. Youve got to make someone really want the technology and see how its going to add value to them and to their mission, as well as deliver for the customer, he says. Wesfarmers OneDigital will complement these divisional capabilities, particularly through the benefits of the shared data platform and OnePass program. The reality is the most important noise in my working life is the beep made every time someone scans a product at our checkout, he says. 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. Most of the digital transformation is being done by an in-house . Wesfarmers formally acquired the online retailer Catch for $230 million in August 2019. 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. To learn more about how we can help your business, contact us today. Bunnings, Kmart and Officeworks continue to deliver topline growth for Wesfarmers while Target was below expectations. Managing Change. Officeworks delivered an impressive 11.5% growth while Kmart and Bunnings have delivered 7.5% and 5.3% respectively. But for more mature digital companies, investment is still required to use advanced tools such as artificial intelligence. With her strong business background, she has been instrumental in ensuring that. While there are some savings in using external cloud environments for test and training activities, Harvey admits significant cost reduction hasnt been apparent. Its about so much more than your technology. Well, one Australian conglomerate which has recently begun to embrace digital transformation is Wesfarmers (ASX:WES). Including Catch, this amounted to AU$2.5 billion. Although every organization is unique, and there are salient differences between types of businesses, industries, and cultures, 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. Bunnings announced setting up of a Technology Centre in Bengaluru which is not surprising. 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. Digital transformation is not a destination; it's a permanent state of evolution. In the final stage of the process, you can evaluate results or impact. Following Wesfarmers' acquisition of the Coles Group in 2007, Harvey became IT group general manager across a team of more than 700 staff. 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. Click and Collect, an important bridge between click and brick, continues to be a growth element for the Wesfarmers companies. It is going to break. To do this, IT has invested in application reporting capabilities to give regional store managers and leaders drillable reports and dashboards on their iPads. Woolworths, Coles and other retailers have been focused on digital growth as a critical element of overall growth strategy. Prior to joining Coles, Harvey worked for Accenture delivering projects across South Africa, the UK and Australia, largely in the retail sector. 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. 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. Having the stakeholders lead this means every day they are helping set and adjust the priorities based on the technical realities being encountered by my team.. In late spring 2020, we surveyed senior executives, digital transformation . 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. The key is to listen and think critically. He added that AIOps to detect anomalies and correlate events is also potentially on OneDigitals radar. In its most basic form, this pillar can mean swapping out analog activities with digital ones. This may evolve as cloud models evolve, but at this stage youve got to trade off tomorrow against 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. Wesfarmers has announced that Catch will join the Groups new data and digital division, now called Wesfarmers OneDigital. Often this is the first step on the digital journey. Or what if it tells you that customers dislike a certain product how will this influence your product development and marketing strategy? A framework to help leaders decide where to invest. Essentially, this is an opportunity to use budget allocated to digital initiatives to modernize IT and communications platforms within your enterprise. And you almost wonder whether it will ever model itself on that, because its always going to be a relatively low use case. 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. Weve already looked at how Blockbuster missed their big opportunity to digitally transform their business, and we all know how that ended for them. Testing RFID blocking cards: Do they work? 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. Cnd este extins, afieaz o list de opiuni de cutare, care vor comuta datele introduse de cutare pentru a fi n concordan cu selecia curent. Bunnings conducted a pilot program for click-and-collect at a store in Tasmania to ensure the new IT systems were working properly. While reporting for the data and digital division remains as part of corporate for FY22, the company said this will be separated from FY23. 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. Melbourne, VIC. If IT foists outcomes onto teams and business leads, inevitably you get a sub-optimal outcome, he says. Without a model, a system, a framework, or reliable data science, any data will be useless, just like 0s and 1s. It requires IT architects and time, but promises up-to-date platforms with more effective tools to serve customers at lower cost of maintenance. This material may not be published, broadcast, rewritten or redistributed in any form without prior authorisation. Which pillar is the right starting point for your company depends on your context, needs, but also your digital maturity. Here's how. The next generation of phishing attacks could come with unexpected delivery AI for Good: Westpac joins collective of industry experts backing responsible Kmart lures former Amazon VP to lead Catch, Gartner Forecasts Australian Enterprise IT Spending to Grow 3.6% in 2021. The more exciting thing is were actively using Agile in this area as a way of prioritising and working with a group of stakeholders to give them the best product as we go through the project, within the scope and timeline, to give them the best possible outcomes, Harvey adds. The Evolving State of Digital Transformation. 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. Digital transformation can be bewildering and exhausting for leaders and employees alike. I, Human: AI, Automation, and the Quest to Reclaim What Makes Us Unique. 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. [You] might as well just break it yourself in a controlled environment and learn from it, and thats where PagerDuty plays a key role.. Catch's vision is to be the trusted place where Australians start their shopping journey. The framework outlines the four pillars of digital transformation we see today: IT uplift, digitizing operations, digital marketing, and digital businesses. Results. Illustration by Joi Fulton. As for Wesfarmers share price, after a rough end to 2018, this year has seen it steadily climb, rising approximately 23% year to date. How public utilities use analytics to improve interactions with customers (TechRepublic). Industrial and safety comprises four main businesses: Blackwoods, NZ Safety Blackwoods, Workwear Group, and Coregas. Broadly speaking, these capabilities will span four use cases: Wesfarmers is also accelerating its digital transformation efforts across other parts of the group. 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. Madan said that expectation informed the level of standards that we have to hold to offer these services, both to Wesfarmers brands and to those brands customers. Speaking on a panel about data-driven cultural change during the Gartner Data and Analytics Summit in Sydney on Monday, Wesfarmers general manager of Advance Analytics Alan Lowthorpe said that while data and analytics has historically served to complement an organisation's business strategy, a shift has occurred where data and analytics has become the business strategy itself. 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. 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. Embracing change has become a mantra for CIOs looking to take a more strategic and innovative position within their organisation today. Not surprisingly, it requires different resources, such as investing in capturing clean data, digital tools including artificial intelligence to understand customers, and omnichannel presence. Baxby says Scott has met Microsoft CEO Satya Nadella, who is personally committed to the success of the Blackwoods implementation, as is Microsoft Australia CEO Steven Worrall. "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.". Below we outline the four pillars and how to invest properly to set yourself up for success. Despite years of discussion, understanding what digital transformation means for established companies remains a daunting challenge. But with the right expertise and tools, data can be turned into insights. When you think about hardware stores, digital technology is probably the last thing that comes to mind. Copyright 2023 IDG Communications, Inc. 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