I often get asked what we mean when we talk about the digital ecosystem? Let me strip it right back to the basics. An ecosystem in its smallest form consists of two or more independent entities which could operate separately but due to a variety of reasons come together to form a mutually beneficial (symbiotic) relationship. This applies both to ecosystems in the natural world (google ‘fungi farming ants’ for a fascinating example), and those occurring in business. Ecosystems often grow organically, becoming complex and multi-faceted over time. Smaller ecosystems may be interconnected with other ecosystems.
Now couple this with the concept of digital transformation. So much technology today – great technology to boot – has been designed to solve a specific problem often with the promise of digital transformation benefits. Unfortunately, most technology tools do not reflect nor take into account the complex nature of the intertwined ecosystems we see in business today. I describe this tendency in technology architecture as being “flat”. It’s almost as if certain tools are trying to flatten otherwise multi-dimensional business relationships. This stark disregard is leading to further fragmentation, costly duplication, and overall inefficiency; and ultimately to the failure of digital transformation initiatives. A simple question to ask here to make the point is: What good will an organization’s digital transformation initiative be if everyone in its ecosystem is detached from it? There is a clear need for technological tools to work in the background to overcome this fundamental problem. At TidWiT, our goal is to create greater business success and true digital transformation by connecting and optimizing fragmented ecosystems through digital ecosystems that sit on a global network … hence TidWiT’s Digital Ecosystem Network (aka DEN).
So what are some of the benefits that would obtained from joining our DEN? Deploying digital ecosystems enables real time connections across different organizations. Imagine everyone in your ecosystem being enabled and empowered dynamically, all in real time. This has huge potential across so many areas, including readiness, marketing, sales excellence, support, and the list goes on. It is efficient, empowering, and ultimately affects the bottom line by lowering costs, raising revenues, and most importantly providing powerful insight.
And digital ecosystems are not one size fits all. Each business will have their own challenges to overcome and their own ecosystem complexities. The exciting thing is that TidWiT allows digital ecosystems to be architected in ways that meet tailored needs. If you want to understand more about the Digital Ecosystem Network, I invite you to listen to a podcast that I recorded recently with Dan Albaum of Market Impact.
I’d like to conclude by providing you two questions to consider. I think these questions should be top of mind for all business leaders and chief strategy officers concerned with digital transformation, regardless of industry:
1. Do you know everything that’s happened in your ecosystem today?
2. Is your digital transformation designed to help you find out?
TidWiT passion and expertise helps customers find the answers to those questions.