Why Digital Intelligence is The Next Big Thing
You will have heard of IQ as a way of measuring intelligence, and you’ve probably also heard of EQ, emotional intelligence, which has become more popular in recent years. So what’s the next evolution?
When it comes to measuring the success of your organisation, it seems that Digital Quotient, or DQ is going to be the next determinant of the future. According to a report by McKinsey, DQ is a factor we should all be measuring in our organisations, and a high score on this metric is a strong indicator of future success.
With digital technology taking over more and more of our lives, it’s not really surprising that digital quotient is becoming more and more important, but what does it really mean?
According to McKinsey, there are six important features of a digitally high performing organisation. They are:
- A strategic approach. Taking a strategic digital approach means making a plan and a vision of where you want to be in the next few years and what digital developments are going to be required to get you there.
- Understanding your customer journey. By getting to grips with your customers’ journey and ensuring it’s as smooth and seamless as possible you can increase your levels of customer satisfaction and boost your revenue. There are plenty of digital tools that can be used to do this.
- Automation. The levels of process automation in your organisation are a good indicator of future success. Automation gives you a competitive advantage because it lets you scale quickly and easily and reduces costs.
- Organisational structure. Those organisations that take an agile approach to their organisational structure are going to far a lot better in the future than less flexible ones.
- Use of technology. Technology forms the core of any digitally intelligent business and realising the value of technological innovation is a strong indicator of future business success. Technology can be used to great advantage in both customer facing and internal IT platforms.
- Use of analytics. Decision-making is easier when you make use of hard data in the form of analytics. The most successful digital organisations use analytics to improve their profits and achieve their organisational goals.
Being digitally savvy is not an optional extra in today’s competitive business environment. If you’re going to be successful you need to be regularly using the most up to date technological tools through every part of your organisation.