Did you know that…
• By 2012, 10 times more photographs were taken than in 1992, and yet Kodak was declared in bankruptcy.
• More digital news content were generated on a daily basis than ever at the same time that Los Angeles Times was declared bankrupt and since then the New Orleans’ The Times-Picayune is published just three days a week.
• Blockbuster closed its doors even when more people around the globe are currently renting and watching more films at home than ever.
• Border Books, the great international book and music retailer, collapsed notwithstanding the book sales increased 27% in 2011 in the U.S.
So, what’s going on?
Social Media - the possibility to always be connected
Mobile - the opportunity to know and please your customer more
Analytics - the computational analysis of data
Cloud technologies - the capacity to have all your information wherever you go
All of these are innovating the way in which companies and business are done. The power of creating needs instead of just filling them is changing business models, such as what Facebook, Apple, Netflix, Amazon, Google, are currently doing. These big companies are now fighting to lead and, at the same time, survive in a SMACked world where only those who handle the SMAC technologies appropriately as an integrated stack - social, mobile, analytics and cloud - will survive. But, what do you need to do…?
A good example of how to take advantage of the SMAC Stack is Amazon, when buying a book online through its website, buyers are presented with recommendations, based on analytics. Once the book is bought, it is stored in “the cloud” which allows the customer to have the possibility to start reading the book whenever they want using just its phone or the kindle - mobile. Afterwards, if so motivated, the buyer can then recommend the book to their social network and thus the SMAC stack works.
Hard Facts you must know…
According to Malcolm Frank, by 2020:
• The SMAC stack will represent $5 trillion in spending.
• The SMAC will be one of the most important ways to improve employee engagement.
• As many as 100 billion computing devices will be connected to the Web.
• Corporations will be managing 50 times the data currently managed.
The SMAC stack opens doors to a new era of organizational models by winning with key knowledge processes.
Companies which ignore this transition may soon face their own Kodak, Blockbuster or Borders moments. So, get rich getting used to the SMAC or die trying.