The Pervasiveness of Software
Software applications played a critical role in growing the personal computer industry. The successful application of transaction processing software to accounting.
Established software applications, as tools to manage, the automation of repetitive tasks in, a plethora of departments.
Across the value chains of organisations. This included departments such as sales, marketing, production and logistics.
The ability of software vendors to innovate is closely tied to Moore’s Law and the evolution of hardware. In fact, semi-conductor speed, innovation in software and hardware feed off one another.
Nathan Myrvold, produced a set of laws, governing software called Nathan Myrvold’s Law of Software.
Source: Spending Moore's Law Dividend
Opening Pandora's Box
Unbeknownst to organisations applying software applications to improve parts of their business. And the professionals incumbent within the variety of departments that comprise the value chain of organisations.
This was the first shot in the race to digitise the manner in which work is conducted and companies operate.
The pervasiveness of software applications, in global commerce, lowered the barriers to entry. Into industries traditionally not seen to be technology-led markets.
This is primarily due to the economics of internet-enabled digitised business models.
Consider the graphs below. The first graph, lists the largest public, internet companies by revenue. Some of the usual suspects appear on this list.
However, if you break the list down by industry sector, you find that technology-first firms. Are disrupting how consumers book their holidays, shop, research goods and services, and the manner in which they work and socialise.
This would be impossible, without the Internet, cloud enabled software applications, the multitude of devices available to consumers. And the leveraging of data to better address the needs of business and consumers.
Apple, however, decided to pursue a different path to that of its contemporaries, in the personal computing industry. Apple's strategy was to design and develop the iOS operating system, application software and hardware in-house.
This ensured that Apple controlled both the performance and aesthetics of their portfolio of products and solutions.
Although the IBM modular system ushered in the personal computing industry.
It was the Apple Macintosh early design features, that significantly influenced the design and layout used in personal computers today.
Apple's counterculture also contributed significantly to the firms success. Apple created a company culture, where employees would feel inspired and could make things happen fast.
The music industry, is an excellent example of how technology-led firms entered into different industries.
The digitisation of the traditional buiness models, of organisations incumbent within the music industry. Turned analogue products, like the CD and Vinyl, into digital assets.
The economics of digital assets, extensive user adoption of MP3, and music streaming services. Ensured that the cost of creating, storing, and disseminating music content fell dramatically.
Opening the door to the creation of new business models, music platforms, and value propositions for consumers. Provided by organisations like Apple, with the Apple Store.
Other technology-first firms, operating within this space include Spotify, Google Play, and the Sixty-One.
The Industry that Never Sleeps
Today, technology-led companies are extending their dominance into Media and Entertainment, Food Delivery, Advertising, Retail, Publishing, Transportation, Healthcare the Financial Services, and a plethora of other industries.
Although, countries like Japan, South Korea, China, and Taiwan were not first to market in the computing industry. Corporations within these countries were able, overtime to specialise in sub-sectors of the computing industry.
As firms globalised to compete more effectively, capital was redirected to investment in global innovation hubs and R&D labs. The hubs consisted of a network of component makers, contract manufacturers, original design manufacturers (ODM), branded PC firms, distributers and resellers.
The skills and knowledge gained by home grown companies, competing within the computer industry. Eventually would provide a gateway to opportunities for the next phase of growth. Mobile technologies and mobile apps.
Why is this Important to Marketers?
The pervasiveness of software, handheld devices and the immense amount of data produced by their interactions with the internet is disrupting the marketing profession like never before.
And is creating an economy where potential employees must be proficient in using enterprise software systems. Deployed by firms to run, their CRM, Social Media, Marketing operations, and Data Analytic programmes.
Conversely, managers, incumbent, within corporations and SME’s, must find ways to better manage the tsunami of data. Derived from their interactions with members of their ecosystems.
Some organisations are using this data to empower staff to make better business decisions, to better serve their consumers. And for the development of new data driven products.
Marketing professionals, are expected to collaborate with other departments to turn data into business intelligence. To drive fact-based marketing decisions. Furthermore, to be successful marketers must integrate all their interactions with consumers across multiple channels. And demonstrate how their activities increased sales. For marketers it seems, things are getting complicated.
Yet, according to a survey titled "The State of Digital Marketing 2018" carried out by General Assembly. Marketers were falling behind in securing the skills necessary to succeed in a data driven economy. Also, according to Korn Ferry International......