The concepts of Information Superiority and Digital Capital will increasingly shape the business strategies and operations of organizations that face the digital- and hyper-competition that’s so common today.
Information Superiority was first introduced to the management world by Paul Strassmann, who defined it as “the capacity to increase economic value faster than the competition.” Strassmann’s definition stresses outcomes (such as increased EVA). The US Department of Defense defines Information Superiority as “the operational advantage derived from the ability to collect, process, and disseminate an uninterrupted flow of information while exploiting or denying an adversary’s ability to do the same.”* Typically, in the business world, organizations focus on winning markets rather than crushing rivals, but the essence of the advantage remains the same.
In hypercompetitive markets, where any product- or customer-related supremacy can be relatively easily replicated and neutralized, information superiority may be the key to sustaining an advantage. Information Superiority requires evidence-based management; it is simply impossible to consistently make the right decisions if not guided by hard evidence. Organizations that manage a large number of customers, products, and events use available information assets to support decision making. Digital Capital is the wealth of information assets — data and automated business logic — that enable Information Superiority. Access to these assets — through the practices of Data Science or API management — can help businesses realize growth and economies of scale.
However, while everyone agrees that “data is the new oil,” the question remains: “How do we effectively refine it and fuel operational processes with it?” Many companies fail at collecting the right data, managing its quality, building a data science-oriented culture or monetizing the resulting insight. On the other hand, the big players like Google, Facebook, Amazon and Netflix, push their competitive advantage to the limit, and even transform whole markets by leveraging their digital assets.
An upcoming issue of Cutter Business Technology Journal with Guest Editors Borys Stokalski and Bogumil Kaminski will address the strategies, challenges, and technical aspects of developing and maintaining an Information Superiority and Digital Capital management initiative. We are especially interested in organizations’ practical experiences in trying to implement Information Superiority and Digital Capital management strategies in actual work environments.
Topics of discussion may include – but are not limited to – the following:
- What is the value of Information Superiority in traditional and digital businesses?
- How can digital asset monetization (external/internal) be used to improve your business processes?
- How do you create and sustain Information Superiority?
- What are some of the best practices in API management? What are the components of an effective API Management strategy?
- What best practices are used in data science to extract the most value from your data? How can it be automated?
- What are the privacy and ethical issues associated with data science?
ABSTRACT DEADLINE: JANUARY 9, 2017 Please send your article idea to Borys Stokalski at bstokalski[at]gmail[dot]com with a copy to Christine Generali at cgenerali[at]cutter[dot]com and include an extended abstract and a short article outline showing major discussion points.
ARTICLE DEADLINE: JANUARY 31, 2017
*U.S. DoD Terminology: information superiority. Retrieved from http://www.militaryfactory.com/dictionary/military-terms-defined.asp?term_id=2642