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The Modern Operating Model is an updated approach to business operating models. It describes a new way of thinking regarding how to best align, run, change, adapt, and optimize your business. In turn, you can bridge the strategy execution gap and better navigate a fast-changing world.&nbsp;As an overview, here’s what the model looks like:&nbsp;<ul><li>Component 1 — Define the destination: Mission, cultural values, vision, and strategy</li><li>Component 2 — Change the business: Create alignment with strategic objectives and OKRs&nbsp;</li><li>Component 3 — Run the business: Business observability through OKRs and KPIs</li><li>Component 4 — Do the work: Organization architecture, culture, systems, and procedures to empower work&nbsp;</li><li>Component 5 — Assess and adapt: Identify threats and opportunities, navigate, optimize, and adapt&nbsp;</li></ul><hr>Get a detailed overview of the <a href="/resources/articles/what-is-the-modern-operating-model" target="_blank" rel="noopener noreferrer">Modern Operating Model</a><figure class="image image_resized" style="width:50%;"><a href="/resources/articles/what-is-the-modern-operating-model" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1670611664/site-v5/what_is_MOM_e096dd39be.png" alt="modern operating model diagram"></a></figure><hr>In this article, we dive deeper into why the model was created and how adopting the Modern Operating Model enables you to:&nbsp;<ul><li>Achieve goals and outcomes faster and more effectively through increased organizational productivity, efficiency, and speed.&nbsp;</li><li>Survive in a rapidly changing world through adaptiveness and agility.&nbsp;</li><li>Gain a competitive advantage and win in hyper-competitive, evolving markets.&nbsp;</li></ul>

With <a href="https://www.gartner.com/smarterwithgartner/3-ways-keep-managers-aligned-corporate-strategy">70% of chief strategists reporting challenges</a> with strategy execution, there is substantial evidence to suggest that conventional operating models are no longer meeting the demands of business today. In fact, the concept of the Modern Operating Model was created in response to three issues impacting businesses:&nbsp;<ul><li>The lingering strategy execution gap&nbsp;</li><li>Megatrends in a rapidly changing world&nbsp;</li><li>The fourth industrial revolution and the wealth of data</li></ul>

Strategy execution is arguably the hardest yet most important challenge for businesses to overcome. There is a reason for this — all goals and outcomes including market leadership and people retention are directly influenced by strategy execution. From this perspective, strategy execution can be framed as one of the key enablers of business success.&nbsp;&nbsp;But what makes strategy execution so difficult? There are many factors to get right including:&nbsp;<ul><li>Alignment: Bringing the organization together to work in sync toward common goals&nbsp;</li><li>Prioritization: Focusing on the most important things with strategic objectives and OKRs&nbsp;</li><li>Capabilities: Understanding the extent of your organizational bandwidth, market position, people, and resources&nbsp;</li><li>Efficiency: Making the best use of your capabilities and processes&nbsp;</li><li>Engagement: Unlocking the full power of your people&nbsp;</li><li>Change management: Leading and managing the difficult process of organizational change&nbsp;&nbsp;</li><li>Culture: Creating a transparent, learning, and adaptive culture&nbsp;</li><li>Performance management: Reviewing and optimizing progress toward goals&nbsp;&nbsp;</li><li>Organization design: Optimizing your structure and processes to improve decision making, collaboration, and information flow&nbsp;&nbsp;</li><li>Observability: Pulling together and monitoring KPIs to identify threats, opportunities, make data-driven decisions, and continuously improve strategy execution&nbsp;</li></ul>For strategy execution to be effective, an operating model must account for and optimize these different variables. As it stands, many operating models fail to incorporate these factors into a cohesive, self-optimizing unit. Particularly, modern elements of strategy execution such as OKRs and AI driven observability are not utilized to their full potential.

But it’s not only these lingering challenges that need to be addressed. We also need to think about current and emerging trends that are influencing strategy execution.&nbsp;&nbsp;At the heart of these trends is one core idea: the rate of change across all dimensions of life is accelerating. Although change can be observed throughout the entirety of history, what’s different now is how quickly it’s occurring — all aspects of our lives are evolving at an increasing rate.&nbsp;Particularly at the business level, the rate of innovation, disruption, and competition is increasing. The ubiquity of data and information, direct-to-consumer channels, and greater access to capital mean market opportunities are filled faster by a greater number of vendors. What’s more, this rate of change will continue to increase as time progresses.&nbsp;<h3>Other megatrends include:&nbsp;</h3>A new generation of workers: <a href="https://www.pewresearch.org/fact-tank/2018/04/11/millennials-largest-generation-us-labor-force/">35% of the current workforce</a> are millennials and by 2025, <a href="https://www.zurich.com/en/media/magazine/2022/how-will-gen-z-change-the-future-of-work#:~:text=Born%20between%201997%20and%202012,of%20the%20workforce%20by%202025.">27% will be Generation Z</a>. These generations value autonomy, flexibility, and social impact. They also place less value on company loyalty and longevity of tenure.&nbsp;New ways of working: Accelerated by the pandemic, the way we work is changing. Remote and hybrid work, gig work, asynchronous, and decentralized work environments are becoming more common.&nbsp;The age of uncertainty: The business environment is becoming more complex and difficult to navigate. Risks have evolved in the form of pandemics, supply chain disruptions, climate change, war, recessions, inflation, interest rates, inequality and cybersecurity.&nbsp;With lingering strategy execution challenges amplified by a fast-changing world, a company’s operating model must not only optimize for efficiency, speed, and productivity, but also for adaptiveness and agility.&nbsp;&nbsp;<hr>Learn more about the <a href="/resources/articles/modern-operating-model-manifesto#new-trends-impacting-the-strategy-execution-gap" target="_blank" rel="noopener noreferrer">megatrends impacting work</a><figure class="image image_resized" style="width:50%;"><a href="/resources/articles/modern-operating-model-manifesto#new-trends-impacting-the-strategy-execution-gap" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1670611664/site-v5/MOM_Manifesto_19f441117e.png" alt="MOM Manifesto.png"></a></figure><hr>

Aside from the accelerated rate of change, a core megatrend at the technological level is the fourth industrial revolution. This describes the level of technology that includes autonomous systems, microservices, edge computing, interconnectivity, artificial intelligence, data, and the <a href="https://quantive.com/resources/articles/digital-transformation" target="_blank" rel="noopener noreferrer">digitization of the physical world</a> through the internet of things.&nbsp;&nbsp;This new suite of technologies represents a significant opportunity to rethink conventional operating models — particularly when it comes to data. Factors such as how decisions are made can be completely overhauled through edge computing and interconnectivity — to become more data-driven, at the edge of the network, and closer to the points of execution.&nbsp;Artificial intelligence can be leveraged to gain insight and foresight to solve problems before they manifest. Overall, strategy execution can be optimized using the wealth of data and tools provided by the fourth industrial revolution.&nbsp;<hr>Learn more about <a href="/resources/articles/business-challenges">the top challenges of businesses today</a><figure class="image image_resized" style="width:50%;"><a href="/resources/articles/business-challenges" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1670611664/site-v5/company_challenges_2023_4743f0ed94.png" alt="company challenges 2023.png"></a></figure><hr>

With the historic challenges of strategy execution and the megatrends in mind, let’s now look at how the Modern Operating Model is best suited to meet the business demands of today.&nbsp;From the collective components of the model, two key themes arise which produce various business outcomes:&nbsp;&nbsp;<ul><li>Alignment toward goals and objectives&nbsp;</li><li>Data-driven optimization&nbsp;</li></ul><h3>Theme 1: Alignment toward goals and objectives&nbsp;</h3>Alignment is achieved primarily through OKRs and strategic objectives, but other factors such as a <a href="https://quantive.com/resources/articles/mission-vs-vision" target="_blank" rel="noopener noreferrer">strong mission</a>, transparent culture, and a more flexible organizational structure also contribute to alignment within the Modern Operating Model.&nbsp;Through greater alignment, your entire team can focus and prioritize the right things with a clear connection to top-line objectives. This creates less waste and a more outcome-focused culture which boosts efficiency and productive power. Alignment also contributes to adaptability — your organization will be able to change form or direction without operational lag or cultural resistance.&nbsp;&nbsp;Greater alignment serves to empower your employees through a clear line of sight, both vertically and horizontally. This boosts engagement as your people feel better connected to the company's objectives, in addition to improving collaboration as silos are removed. Decision-making power, backed by data, is distributed across the organization which increases accountability and ownership.&nbsp;This empowers employees to do their best work and provides freedom to innovate without needing higher-level approval. Finally, employees adopt a growth mindset and are continuously learning and improving through regular OKR reviews and retrospectives. Taken together, engagement, distributed power, and continuous learning contribute to boosting organizational output and problem-solving.&nbsp;<h3>Theme 2: Data-driven optimization&nbsp;</h3>KPIs, OKR data and reports, and market intelligence are used for monitoring and business observability. Through the interconnectivity and monitoring of data, your organization gains greater certainty, validation, and precision about working in the right direction.&nbsp;You gain a more complete picture of your organization’s progress and can identify any potential roadblocks toward objective achievement. This also serves as a mechanism for incremental improvement. The organization now has an embedded learning system which collects data and information, turns that into knowledge and then utilizes it to improve how the organization functions.&nbsp;Ongoing monitoring also boosts the speed of your business. As feedback loops are compressed, you don’t have to wait for quarterly or even annual reviews to make important adjustments. Speed is also increased through decision-making power being distributed and closer to the points of execution.&nbsp;Decisions no longer need to go up and down the chain of command so they can be made quicker. Combined, greater organizational speed, observability, and alignment improve adaptiveness. You will be able to more readily identify threats and opportunities in your business and move quickly in response.&nbsp;

Most executives know that improvements, sometimes major, need to be made to their strategy execution. But the discipline of strategy execution is often framed through the perspective of solving challenges such as a lack of alignment. Although this is valid, what’s less spoken about is the opportunity — what happens when your organization achieves mastery over strategy execution?&nbsp;Through an updated operating model and correct implementation, strategy execution can become the ultimate competitive advantage – achieve strategic goals faster and navigate the threats and opportunities of a fast-changing world.&nbsp;<h3>Opportunity 1: Achieve goals and outcomes faster and more effectively&nbsp;</h3>Effective strategy execution is the catalyzing force behind better goal and outcome achievement. The Modern Operating Model acts as an updated driver and engine of strategy execution.&nbsp;Hence, through the increased productivity, efficiency, and speed that the Modern Operating Model offers, you can achieve strategic goals and outcomes faster and more effectively. Your various strategic imperatives of growth, diversification, and innovation can be simultaneously optimized toward by updating your operating model and approach to strategy execution.&nbsp;<h3>Opportunity 2: Survive in a rapidly changing world&nbsp;</h3><a href="https://www.aei.org/carpe-diem/only-52-us-companies-have-been-on-the-fortune-500-since-1955-thanks-to-the-creative-destruction-that-fuels-economic-prosperity-2/">Only 52 US Companies</a> have been on the Fortune 500 since 1955. Fundamentally, corporate extinction comes down to not adapting both strategy and strategy execution to a fast-changing world. Although change comes with new threats, it also comes with new opportunities — there will be a new generation of winners and losers.&nbsp;Through the Modern Operating Model and the adaptiveness and agility it provides, you gain the ability to navigate the threats and opportunities of a fast-changing world. &nbsp;The productivity, efficiency, and speed increases also ensures that your organization is operating at its best to overcome challenges.&nbsp;

By achieving goals and outcomes more effectively, in addition to navigating threats and opportunities, you gain two significant competitive advantages which help you win in hyper-competitive, evolving markets.&nbsp;Strategy execution, amplified by the Modern Operating Model, represents a hidden opportunity for all companies. Regardless of size, stage, or industry, you can gain a needed edge in the complex, uncertain, and hyper-competitive business environment of today.&nbsp;<hr>Quantive is your bridge between strategy and execution. Founded on the objectives and key results (OKR) methodology, <a href="https://quantive.com/resources/articles/strategy-execution-platform" target="_blank" rel="noopener noreferrer">our Strategy Execution Platform</a> is where businesses plan successful strategy, focus and align teams to it, and stay on the leading edge of progress.As your company looks to achieve the best possible results, you need a modern approach to <a href="https://quantive.com/products/results" target="_blank" rel="noopener noreferrer">run your business</a> and change your business. <a href="https://quantive.com/resources/articles/what-is-the-modern-operating-model" target="_blank" rel="noopener noreferrer">The Modern Operating Model</a> brings strategy, teams, and data together to help make decisions faster, optimize operations, and drive better business outcomes.Whether you’re a large enterprise facing competitive disruption or a small business leading the innovative charge, Quantive helps get you where you want to go.Ready to achieve the best possible? Start using <a href="https://quantive.com/products/results/pricing" target="_blank" rel="noopener noreferrer">Quantive for free.</a>

How Top Companies Close the Strategy Execution Gap

Why Use the Modern Operating Model?

Understanding strategy execution is the first step in improving it for your organization. But successful strategy execution process doesn't occur by trying to do everything all at once. Some efforts produce greater results than others.Through our experience in <a href="https://quantive.com/resources/articles/strategy-execution" target="_blank" rel="noopener noreferrer">strategy planning, alignment and activation, execution, and assessment and adaptation</a>, we’ve distilled our best practices for strategy execution. These tips are a non-exhaustive, practical starting point for kickstarting an effective strategy execution journey.&nbsp;In this article, we’ll explore best practices for strategy execution, covering:<ol><li>Team responsibilities</li><li>Corporate strategy</li><li>Finances</li><li>OKRs and KPIs</li><li>Information silos</li><li>Micromanagement</li><li>Alignment</li></ol>

Imagine your teams not knowing who is working on which projects or who to report to. How can collaboration, accountability, or alignment thrive in this environment?&nbsp;Clarity is the catalyst for effective strategy execution.<blockquote>Clarity creates visibility. Visibility creates accountability. Accountability creates results.&nbsp;</blockquote>As a general concept thought leaders love to throw around, clarity is aspirational but abstract — so how can clarity become tactically approachable for you?&nbsp;Uncertainty between decision-makers creates conflicts within teams, leaders, and processes, leading to a lack of clarity. For example:<ul><li>If a leader assumes someone is making a decision (but they aren’t), time is wasted</li><li>If a leader believes they have decision making rights (but they don’t), conflict is created</li><li>If a team member waits for or bypasses approval, time is wasted</li><li>If a leader needs approval from another leader, who needs approval from another leader, inefficient bureaucracy is reinforced</li></ul>Endless scenarios can demonstrate the chaos that ensues from poor clarity. Larger organizations are especially vulnerable, as leadership may frequently change or roles grow more ambiguous.&nbsp;Improving clarity on responsibilities directly contributes to better results, making it a must-have best practice for strategy execution.

Clarity doesn’t just help sort out individual responsibilities. Corporate strategy can be painfully vague and ambiguous — creating a clear strategy is the first step to approachability.&nbsp;<blockquote>Without a clear corporate strategy, business and functional strategies operate in disarray and the strategy chain is broken before it can begin!&nbsp;</blockquote>Consider then how this strategy &nbsp;scales as your company or the market changes. Building scale into strategy is an insurance policy against unpredictability.&nbsp;But why are clarity and scalability so necessary in corporate strategy and effective strategy execution?&nbsp;<h3>Clarity for an approachable strategy</h3>When the corporate strategy is transparent and well-understood, it allows information to flow freely throughout the organization, reducing the lag between strategy and execution. As corporate strategy informs business and functional strategies, it creates a symbiotic relationship — an approachable corporate strategy leads to healthy execution.<blockquote>With a clear, approachable corporate strategy, teams are more closely connected to the company’s vision, and as a result, aligned in their efforts to drive measurable impact.</blockquote>Approachability isn’t enough, however. Building a scalable strategy means dedicating the right resources for alignment, execution, and adaptation at any level.But why scalability?&nbsp;<h3>Scalability for preventing resource waste</h3>The strategy that works for 10 people likely won’t work for 100 people. The same goes for the jump from 100 to 1,000. The difficulty of strategic communication compounds as your organization scales.&nbsp;<blockquote>Building strategy to scale is ensuring that in six months or a year, you don't have to completely redo the structure and approach of your entire organization.</blockquote>By being more intentional about the scalability of your corporate strategy upfront, you’re saving time and money in the future.&nbsp;

Imagine this: you’ve built the best strategy in your industry. It’s guaranteed to shake up the competition and thrust your business into the forefront of your customers’ minds. Everyone is excited about the rollout, leadership believes in the concept, and the figurative runway is prepared for takeoff!Just one problem: you forgot to talk about costs.<blockquote>A great strategy without the resources to execute it is pointless.&nbsp;</blockquote>Finances raise the question of practicality — can our ambitious strategy actually be deployed? &nbsp;As noted in <a href="https://www.clearpointstrategy.com/strategy-implementation/" target="_blank" rel="noopener noreferrer">Clear Point Strategy,</a> creating the financial plan in a silo, away from the strategy, is a recipe for failure in both processes. &nbsp;Financial resources should be actively considered within the strategy, instead of being plugged in at the last minute. This is not possible without clear communication about the strategy and <a href="https://quantive.com/resources/articles/cross-functional-collaboration" target="_blank" rel="noopener noreferrer">cross-functional collaboration</a> between finance, leadership, and any other stakeholders.&nbsp;

Performance management indicators are amongst the necessary best practices for strategy execution, making your strategy measurable.&nbsp;<blockquote>Demonstrating results helps every level of your organization, whether showing your team’s progress, measuring the health of your strategy, or catching red flags early.</blockquote>OKRs and KPIs are practical <a href="https://quantive.com/resources/articles/strategy-execution-gap" target="_blank" rel="noopener noreferrer">tools for closing the gap between strategy and execution</a>. Here’s how OKRs and KPIs give you critical insights into your strategy execution process. &nbsp;<h3>OKRs</h3>OKRs help you create smarter goals. Ambitious objectives combined with the proof of key results are a long-term solution for deploying strategy. Objectives may shift as your strategic priorities do, while key results enforce actions that drive real impact.Because OKRs are a transparent system, accountability becomes a pillar in the <a href="https://quantive.com/resources/articles/strategic-planning-process" target="_blank" rel="noopener noreferrer">strategic planning process</a>. Initiatives are clearly tied to impact, and the ownership of goals aligns individuals to strategic outcomes.<hr>Learn how <a href="https://quantive.com/resources/articles/okr-meaning" target="_blank" rel="noopener noreferrer">OKRs can enhance your strategy</a><figure class="image image_resized" style="width:50%;"><a href="https://quantive.com/resources/articles/okr-meaning" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1670611666/site-v5/what_are_OK_Rs_35bf212c5f.png" alt="what are OKRs.png"></a></figure><hr><h3>KPIs</h3><a href="https://quantive.com/resources/articles/what-are-kpis" target="_blank" rel="noopener noreferrer">KPIs (key performance indicators)</a> can be incorporated into OKRs, providing a purely quantitative feedback loop. As the health monitor of your active goals and business-as-usual processes, KPIs can be fine-tuned to reflect your strategic priorities.As a bonus, automated KPIs allow minimal effort for continuous data feedback. The habit of strategic check-ins will naturally extend beyond KPIs too, creating higher chances of success for your strategy execution.&nbsp;<hr>Learn how <a href="https://quantive.com/resources/articles/okrs-vs-kpis" target="_blank" rel="noopener noreferrer">OKRs and KPIs work together</a><figure class="image image_resized" style="width:50%;"><a href="https://quantive.com/resources/articles/okrs-vs-kpis" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1670611666/site-v5/OK_Rs_and_KP_Is_58043d5709.png" alt="OKRs &amp; KPIs.png"></a></figure><hr>

The cause of silos, and how severe they are, is usually correlated to the size of the organization. Regardless of your organization’s size, deploying information the right way is one of the secrets to successful strategy execution.For example, information silos inhibit startup organizations by stifling the innovation and agility they thrive on for their competitive advantage. In full-scale enterprises, they cost millions of dollars in inefficiencies and disruption.&nbsp;Clarity continues repeating as a theme for our tips, and for good reason.<blockquote>The free flow of information from top-to-bottom creates more opportunities for collaboration and promotes organizational efficiency.&nbsp;</blockquote>So how can you clear information silos? Identify ambiguity: &nbsp;<ul><li>Where are processes being held up?</li><li>Who are the key decision-makers?</li><li>What is repetitively causing friction?</li></ul>Typically, more transparent and effective strategy execution processes have less bureaucracy which leads to information silos. A system like OKRs ensures transparency is more than an afterthought or ambition.&nbsp;<hr>Learn about transparency, alignment, and <a href="https://quantive.com/resources/articles/okrs-in-business" target="_blank" rel="noopener noreferrer">other benefits of OKRs in business</a><figure class="image image_resized" style="width:50%;"><a href="https://quantive.com/resources/articles/okrs-in-business" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1670703147/site-v5/OK_Rs_for_business_656a5f0108.png" alt="OKRs for business.png"></a></figure><hr>

Good strategy execution requires making the right decisions at the right time. The more frequently one decision corresponds with one person, the more effective your strategy execution process will be.When ample time is spent defining and deploying the strategy, teams will have a clear vision for executing it. Clarity enables autonomy for team decision-making, reducing the total number of decision makers and improving efficiency in your strategic process.However, this assumes leaders and managers trust your teams. Micromanagement doesn't just plague organizations by hindering employee efficiency and confidence — it’s simply not practical for the <a href="https://quantive.com/modern-operating-model" target="_blank" rel="noopener noreferrer">modern operating model.</a><blockquote>A culture of second-guessing comes from the inability of leadership to relinquish control, due to mistrust or otherwise poor communication of strategic direction.</blockquote>As <a href="https://hbr.org/2008/06/the-secrets-to-successful-strategy-execution" target="_blank" rel="noopener noreferrer">Harvard Business Review</a> suggests, unnecessarily cascading decision-making&nbsp;crushes accountability in teams and eliminates efficiency. Managers have roles for a reason and so do individual contributors.&nbsp;Influence from leaders in the organization should be about guiding process, not controlling it.

Managing expectations is a renowned piece of advice for leaders. However, what your teams are traditionally responsible for and what the strategy calls for may not always align.For example, a manager may be hired to do a job that aligns with the previous, outdated strategy. After updating the strategy, the manager’s expertise is no longer aligned with the strategy, which can create inefficiencies and friction for the manager and their teams.What’s more effective — changing the entire strategy to fit the needs of one person, or adapting the role to fit better within the strategy?&nbsp;<blockquote>Strategy can’t work at its fullest potential if parts of it are cherry-picked or molded to static job responsibilities. The strategy must exist because it is effective, not because it fits in a box.&nbsp;</blockquote>Your organization must create work and jobs that align with the strategy. Work for the sake of work, or work because “it has always been this way,” is not effective. Data from <a href="https://online.hbs.edu/blog/post/strategy-execution" target="_blank" rel="noopener noreferrer">Harvard Business School</a> backs this up: jobs that align with strategic needs contribute to successful&nbsp;strategy execution.

Clarity. Alignment. Transparency. All critical characteristics in the tips you’ve learned for strategy execution. But what’s next?&nbsp;Along with the guidance from our strategy execution guide — which covers how to get better at strategy and best practices for strategy execution — you’ve&nbsp;got a starting point for creating, deploying, and executing a strategy. It might be tempting to jump in head-first and start defining your strategy immediately.&nbsp;But why work harder when you can work smarter?<hr>Check out our “Read Next” article to learn about the <a href="https://quantive.com/resources/articles/strategy-execution-gap" target="_blank" rel="noopener noreferrer">strategy execution gap</a> and how top businesses close it<figure class="image image_resized" style="width:50%;"><a href="https://quantive.com/resources/articles/strategy-execution-gap" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1670611665/site-v5/close_strategy_execution_gap_8de6ba8e73.png" alt="close strategy execution gap.png"></a></figure><hr>Quantive is your bridge between strategy and execution. Founded on the objectives and key results (OKR) methodology, <a href="https://quantive.com/resources/articles/strategy-execution-platform" target="_blank" rel="noopener noreferrer">our Strategy Execution Platform</a> is where businesses plan successful strategy, focus and align teams to it, and stay on the leading edge of progress.As your company looks to achieve the best possible results, you need a modern approach to <a href="https://quantive.com/products/results" target="_blank" rel="noopener noreferrer">run your business</a> and change your business.<a href="https://quantive.com/resources/articles/what-is-the-modern-operating-model" target="_blank" rel="noopener noreferrer"> The Modern Operating Model </a>brings strategy, teams, and data together to help make decisions faster, optimize operations, and drive better business outcomes.Whether you’re a large enterprise facing competitive disruption or a small business leading the innovative charge, Quantive helps get you where you want to go.Ready to achieve the best possible? Start using <a href="https://quantive.com/products/results/pricing" target="_blank" rel="noopener noreferrer">Quantive for free.</a>

7 Best Practices for Strategy Execution

Digital transformation equips companies with the data, tools, and know-how to navigate the competitive landscape and come out on top. While digital business transformation can benefit everyone, select industries have taken the lead, fully embracing digital initiatives to gain a competitive edge.&nbsp;In this article, we’ll explore the impact of digital transformation on the finance, software, hospitality, healthcare, and retail industries. We’ll cover real-life, sector-focused digital transformation examples, but first, let’s establish a baseline understanding of digital business transformation.&nbsp;&nbsp;To do so, we’ll cover:&nbsp;<ul><li>What is digital transformation?&nbsp;</li><li>Why digital transformation is important?&nbsp;</li><li>The benefits of digital transformation&nbsp;</li><li>The challenges of digital transformation&nbsp;</li></ul>

<blockquote>Digital transformation involves a complete tech makeover for your business, utilizing the latest technology to generate, appropriate, and deliver value to stakeholders.&nbsp;</blockquote>To fully understand the definition of digital business transformation, it's essential to differentiate between digitization, digitalization, and digital transformation. While these are related, they represent different levels of engagement.&nbsp;<ul><li>Digitization is the first step of digital transformation, where companies transition from analog to digital (such as replacing paper data collection with digital forms)&nbsp;</li><li>Digitalization is the next layer, where previously isolated business processes become digital (such as process management)&nbsp;</li><li>Digital transformation is the final stage, where companies undergo a profound technological transformation, resulting in a new digital business model&nbsp;&nbsp;</li></ul>

Increasing competition, changing customer behaviors, and a shift to remote and <a href="https://quantive.com/resources/articles/hybrid-work" target="_blank" rel="noopener noreferrer">hybrid work</a> are the reality of today’s workplace. On top of that, the need for <a href="https://quantive.com/resources/articles/ai-for-decision-making" target="_blank" rel="noopener noreferrer">data-driven decision making</a> pushes digital business transformation as a top priority, even as <a href="https://quantive.com/resources/articles/business-challenges" target="_blank" rel="noopener noreferrer">pandemic concerns</a> subside.&nbsp;<blockquote>Gone are the days when manual work, single-channel experiences, and limited data were enough to succeed.&nbsp;</blockquote>To boost sales and stay ahead, automation, personalization, and data-driven interactions are no longer optional extras, but essential for achieving success in our digital age.&nbsp;&nbsp;

Digital transformation’s benefits reach across your business’s value chain and include:&nbsp;<ol style="list-style-type:decimal;"><li>Increased operational efficiency&nbsp;</li><li>Improved customer experiences&nbsp;</li><li>Cost savings&nbsp;</li><li>Enhanced data insights&nbsp;</li><li>Better collaboration &nbsp;</li></ol><h3>1. Increased operational efficiency&nbsp;</h3>Automate mundane tasks and streamline workflows. Allow teams to perform tasks more efficiently by focusing on complex, strategic, or creative work rather than time-consuming manual tasks.&nbsp;<h3>2. Improved customer experiences</h3>AI, chatbots, and data analytics reveal customer preferences, giving insight to tailor customer experiences. For instance, purchase data allows businesses to recommend products and services that anticipate customer needs, generating a seamless flow of touchpoints.&nbsp;<h3>3. Cost savings</h3>Cloud computing and automation can reduce human errors, minimize downtime, and cut overhead costs, leading to a healthier bottom line.&nbsp;<h3>4. Enhanced data insights</h3>Automate data collection and analysis to eliminate time-consuming, error-prone manual tasks. Improve decision-making capabilities using accurate trends, patterns, and correlations.&nbsp;<h3>5. &nbsp;Better collaboration</h3>Improve asynchronous communication through collaboration software. Enable teams to share ideas and feedback effortlessly, while using storage platforms to make resources, files, and documents more accessible.&nbsp;

While digital transformation has plenty of upsides, adopting digital initiatives comes with hurdles.&nbsp;<h3>Challenge 1: Legacy systems</h3>Outdated technologies create compatibility issues when merging existing systems with new software. This impacts a company’s ability to digitally interact and improve user value.&nbsp;<h3>Challenge 2: Data management</h3>Companies new to digital business transformation are often flooded with new data, stored in different formats and locations. Handling large datasets can be overwhelming and challenging to manage during digital transformation.&nbsp;<h3>Challenge 3: Resistance to change</h3>Employees, stakeholders, and customers may resist digital transformation, feeling intimidated, apathetic, or hesitant to embrace new work methods. This can lead to delays or failures in digital business transformation.&nbsp;

With the groundwork established, let’s dive into the impact of digital transformation on five key industries. These digital business transformation examples show how to tackle the opportunities, benefits, and challenges of digital transformation in:&nbsp;<ol style="list-style-type:decimal;"><li>Financial services&nbsp;</li><li>Software&nbsp;</li><li>Hospitality&nbsp;</li><li>Healthcare&nbsp;&nbsp;</li><li>Retail&nbsp;</li></ol><h3>&nbsp;Digital transformation in financial services</h3>The financial services sector is plagued with complex legacy systems, outdated processes, and overall risk-averse culture.&nbsp;&nbsp;However, the rise of fintech startups and customer expectations has forced rapid modernization — the global digital banking market is projected to reach <a href="https://www.globenewswire.com/news-release/2022/03/04/2397089/0/en/Global-Digital-Banking-Market-to-Reach-30-1-Billion-by-2026.html" target="_blank" rel="noopener noreferrer">$30.1 billion by 2026</a>, with a compound annual growth rate (CAGR) of 15.7%.&nbsp;Given the <a href="https://www.nytimes.com/2023/04/10/business/economy/bank-economy-credit-crunch.html" target="_blank" rel="noopener noreferrer">recent upheaval in the banking world</a>, we’re going to look at two companies that have created security through digital business transformation initiatives: Societe Generale and KeyBank.&nbsp;<h4>KeyBank</h4>The first among KeyBank’s main digital transformation initiatives was modernizing its legacy systems. How? Using a cloud-first approach and data analytics for real-time insights — leading to data-driven decisions and personalized customer experiences.&nbsp;The company also developed a mobile app (for account management tools, investment services, and personalized advice) and a virtual assistant (for basic customer questions and transactions).&nbsp;<blockquote>“Deploying analytic solutions and technology in a competitive way across our customer base assures that we'll have a place in the long-term future of banking. We've been here for 200 years and we'd like to be here for 200 more. I think this is the crux of our ability to do that.”&nbsp;- Ben Sabloff, KeyBank Executive Vice President of Enterprise Analytics&nbsp;&nbsp;</blockquote><h4>Societe Generale</h4>Societe Generale, one of Europe’s biggest banks, also doubled down on cloud-based digital business transformation.&nbsp;<a href="https://www.businesswire.com/news/home/20200908005321/en/Nutanix-Announces-Partnership-with-Microsoft-Azure-for-a-Seamless-Hybrid-Experience" target="_blank" rel="noopener noreferrer">Partnering with Microsoft and Nutanix</a>, Societe Generale employed a hybrid cloud infrastructure to optimize IT spending, scalability, and data security. They also leveraged AI and ML to develop their virtual assistant (SoBot), providing additional information and facilitating customer transactions.&nbsp;To keep their digital momentum going, Societe Generale formed a dedicated team for their digital initiatives, accelerating new products and services on a rolling basis.&nbsp;<h3>Digital transformation in software</h3>Customers rely on software to push digital transformation — it’s no surprise the industry has been one of its greatest beneficiaries. Beyond this, digital business transformation also impacted how the industry operates.&nbsp;Agile development has pushed quicker, more collaborative software delivery, while new business and distribution models have kept software teams responsive to customer demand.&nbsp;&nbsp;Two subsectors of software were primarily impacted by the data boom in digital transformation: cybersecurity and artificial intelligence (AI).&nbsp;<h4>Cybersecurity</h4>Cloud computing, the Internet of Things (IoT), and emerging technologies have made businesses vulnerable. These aren’t easily dismissed concerns, as the average cost of a data breach hit <a href="https://www.cobalt.io/blog/cybersecurity-statistics-2023" target="_blank" rel="noopener noreferrer">$4.35 million in 2022</a>.&nbsp;Companies have invested heavily in cybersecurity measures (e.g., encryption, multi-factor authentication, access control) at every stage of their digital transformation journey. Businesses worldwide spent $150 billion on cybersecurity in 2021 — a figure growing by 12.4% every year, according to <a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/cybersecurity/new-survey-reveals-2-trillion-dollar-market-opportunity-for-cybersecurity-technology-and-service-providers" target="_blank" rel="noopener noreferrer">McKinsey</a>.&nbsp; &nbsp;<h4>AI&nbsp;</h4>AI is no longer a catchall buzzword thrown around in tech circles — it’s a high-demand asset for digital business transformation. Thanks to its versatility, companies get several benefits from AI:&nbsp;<ul><li>Automation: Frees people from monotonous work&nbsp;</li><li>Data analytics: Identifies patterns, solutions, and potential outcomes&nbsp;</li><li>NLP: Enables sentiment analysis for intelligent and helpful solutions&nbsp;</li><li>Machine learning: Extracts meaningful information from data&nbsp;</li></ul>Given these capabilities, AI adoption has skyrocketed and doesn’t plan to slow down. According to <a href="https://www.ibm.com/downloads/cas/GVAGA3JP" target="_blank" rel="noopener noreferrer">IBM</a>, 35% of companies report using AI in business, with an additional 42% exploring AI. As a result, the AI market is projected to expand at a <a href="https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market" target="_blank" rel="noopener noreferrer">CAGR of 37% until 2030</a>.&nbsp;&nbsp;<h3>Digital transformation in hospitality</h3>The hospitality industry’s tech stacks were deeply ingrained, slow moving, and resistant to change. This all changed with the pandemic’s onset, <a href="https://www.mckinsey.com/industries/travel-logistics-and-infrastructure/our-insights/travel-disruptors-sonders-francis-davidson-on-the-future-of-hospitality" target="_blank" rel="noopener noreferrer">jamming a decade of digital adoption into a few years</a>.&nbsp;Mobile solutions, online booking systems, and chatbots generate a flurry of benefits:&nbsp;<ul><li>Easier customer reservations&nbsp;</li><li>Increased access to information&nbsp;</li><li>Improved contact between staff and customers&nbsp;</li><li>Personalized guest experiences&nbsp;</li><li>Smoother inventory management&nbsp;</li><li>Enhanced interdepartmental communication.&nbsp;</li></ul>In contrast to our previous example, we can show the severe repercussions of delaying digital business transformation with one company: Southwest Airlines.&nbsp;&nbsp;<h4>Southwest Airlines</h4>In December 2022, Southwest Airlines experienced one of its biggest operational meltdowns, resulting in the cancellation of over 15,000 flights.&nbsp;&nbsp;Its inadequate IT infrastructure led to ineffective cross-functional communication — improper flight scheduling, crew assignments, and coordination of authorities.&nbsp;This <a href="https://www.nytimes.com/2023/01/26/business/southwest-airlines-fourth-quarter-earnings.html#:~:text=The%20debacle%20also%20led%20some,for%20air%20travel%2C%20Southwest%20said." target="_blank" rel="noopener noreferrer">$220 million loss</a> prompted Southwest to create a <a href="https://www.prnewswire.com/news-releases/southwest-airlines-outlines-two-billion-dollar-plan-to-transform-the-customer-experience-bringing-more-simplicity-and-speed-from-the-ground-up-airline-to-connect-customers-with-faster-wifi-new-in-seat-power-larger-overhead-bin-301545185.html" target="_blank" rel="noopener noreferrer">$2 billion dollar</a> plan to transform its customer experience. This involves vast digital transformation initiatives — switching to the cloud, streamlining operations, and using enhanced data analytics.&nbsp;&nbsp;&nbsp;<h3>Digital transformation in healthcare&nbsp;</h3>Naturally, the pandemic impacted the healthcare industry — companies had no choice in embracing digital transformation to improve efficiency, patient outcomes, and cost savings.&nbsp;Telehealth, wearable technology, and mobile health apps created a new reality in healthcare access, creating&nbsp;real-time health monitoring, and recommendations for patients unable to access doctors.&nbsp;&nbsp;AI also played a role in enabling proper care, with health professionals leveraging it to analyze patient data and identify patterns. This led to the emergence of AI healthcare, with global revenue expected to grow to <a href="https://www.businesswire.com/news/home/20180827005149/en/" target="_blank" rel="noopener noreferrer">$34 billion by 2025</a>.&nbsp;<h3>Digital transformation in retail</h3>Online shopping, social media, and mobile commerce pushed the retail industry into a new era, with seamless, omnichannel customer experiences becoming the status quo.&nbsp;Retail companies now use digital technologies to reach customers on their preferred channel, re-engage them across touchpoints, and provide targeted offers. These strategies are proving effective — average omnichannel customer spending is <a href="https://hbr.org/2017/01/a-study-of-46000-shoppers-shows-that-omnichannel-retailing-works" target="_blank" rel="noopener noreferrer">4% and 10%</a> higher in-store and online, respectively, compared to single-channel spending.&nbsp;Lululemon, the Canadian athletic apparel brand, is a shining example of digital transformation embrace.&nbsp;<h4>Lululemon</h4>Lululemon experienced significant sales growth and expansion with digital business transformation early in the pandemic, increasing its brand value by as much as <a href="https://bettermarketing.pub/how-lululemon-increased-their-brand-value-by-40-in-2020-d767b36e4edb" target="_blank" rel="noopener noreferrer">40%</a>.&nbsp;The company focuses on seamless cross-channel customer experiences, using AI and ML to:&nbsp;<ul><li>Enhance search&nbsp;</li><li>Personalize recommendation capabilities&nbsp;</li><li>Understand customer preferences&nbsp;</li></ul>Not only did this improve average customer value, but it also made the Lululemon brand notorious for easy product navigation.&nbsp;These approaches grew the company’s digital sales by <a href="https://www.parcelmonitor.com/news/lululemon-exceeds-expectations-as-e-commerce-sales-surged-157" target="_blank" rel="noopener noreferrer">157%</a>, fueling its expansion into new markets.&nbsp;

Digital transformation can be a competitive strength or critical vulnerability amidst the current dynamic market changes. The digital business transformation examples show us the impact of transformation on operations, customer fulfillment, competitive adjustments, and decision making — now, these benefits are being sought by every industry, becoming a must of organizations looking to stay ahead of competition.<hr>Quantive is your bridge between strategy and execution. Founded on the objectives and key results (OKR) methodology, <a href="https://quantive.com/resources/articles/strategy-execution-platform" target="_blank" rel="noopener noreferrer">our Strategy Execution Platform</a> is where businesses plan successful strategy, focus and align teams to it, and stay on the leading edge of progress.As your company looks to achieve the best possible results, you need a modern approach to <a href="https://quantive.com/products/results" target="_blank" rel="noopener noreferrer">run your business</a> and change your business. <a href="https://quantive.com/resources/articles/what-is-the-modern-operating-model" target="_blank" rel="noopener noreferrer">The Modern Operating Model</a> brings strategy, teams, and data together to help make decisions faster, optimize operations, and drive better business outcomes.Whether you’re a large enterprise facing competitive disruption or a small business leading the innovative charge, Quantive helps get you where you want to go.Ready to achieve the best possible? Start using <a href="https://quantive.com/products/results/pricing" target="_blank" rel="noopener noreferrer">Quantive for free.</a>

5 Industries Leading the Way for Digital Transformation

Business dashboards have been a staple in almost every company, team, and industry since <a href="https://quantive.com/resources/articles/digital-transformation" target="_blank" rel="noopener noreferrer">digitalization</a> began in the 1980s.&nbsp;They’ve given insight into what has happened in companies by using historical data to track trends and KPIs – the key word here being historical. But what happens if you don’t want history to repeat itself?What if you want to change the course of the future through swift and immediate action?<blockquote>Dashboards are no longer capable of driving change for your business in the modern world.</blockquote>Business dashboards are becoming obsolete, and we’re here to uncover why. We believe business leaders like you are missing out on better solutions and an early competitive edge. &nbsp;To understand why we’re advocating for a future free of dashboards (as they exist today), we’re going to explore:<ul><li>Why business dashboards still exist today (capabilities)</li><li>Why dashboards are becoming obsolete (risks/challenges)</li><li>What does a future without dashboards look like (solutions)</li></ul>

The need for data curation has never been greater. Yet, modern businesses still rely on dated methods (business dashboards) to cater to new demands, resulting in unique challenges.<h3>Capabilities of business dashboards</h3>Historically, dashboards were optimal (and at one time revolutionary) as the pace of business was slower. You could live with occasional data pushes in bulk because that was the technological standard. The data was still manageable, and you didn’t have to worry about your competition outdoing you with real-time data because it didn’t exist.<blockquote>The business dashboard as we know it today is no longer revolutionary — it’s the bare minimum.</blockquote>While business dashboards give us a high-level overview of data, they're static in nature — what you see is what you get. Built with push signaling behavior, communication is only ever one-way, which is the first unique challenge.<h3>Where business dashboards go wrong</h3>Amid a world of uncertainty, one thing is clear — you don’t need 100% of your business data dumped on you at once, especially if it lacks context or clarity. Rather, your teams need data catered to their unique challenges — &nbsp;data that allows them to go in-depth to find true insight.<blockquote>There’s no shortage of information, but a shortage in the right information.</blockquote>It’s 2023, and it doesn’t take a book on business strategy to know we all, in every business and industry, are flooded with push updates.The traditional dashboard is just another ping, alert, and/or buzz we’re probably not paying attention to. Users, aka your teams, don't care whether these notifications are important because there are simply too many to manage.The one-way philosophy of business dashboards neglects vital details: &nbsp;<ul><li>Which data is relevant? (quality vs quantity) &nbsp;</li><li>How up-to-date is this data? (accuracy) &nbsp;</li><li>How does this data help us find insights? (communication) &nbsp;</li><li>How accessible is this data? (usability)</li><li>How granular does the data get? (depth)</li></ul>These issues are chipping away at the relevance of dashboards in our fast-paced business environment.&nbsp;

Your organization can be in any stage — startup or stagnating, rapid scale or pursuing profitability — but that doesn’t mean the influx of data is slowing down.Over time, we’ve accumulated thousands of metrics to help us gauge business performance. However, traditional business intelligence (BI) dashboards have poorly supported these metrics, inhibiting informed decision-making. &nbsp;According to a <a href="https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/deloitte-survey-analytics-and-ai-driven-enterprises-thrive.html" target="_blank" rel="noopener noreferrer">Deloitte</a> survey, executives are feeling this exact pressure. &nbsp;<blockquote>67% of executives said they weren’t comfortable accessing or using data from their existing resources, while 63% say although they are aware of analytics, they lack technological infrastructure and are still working in silos.</blockquote>Now let's see specific examples of how dashboards come up short in the modern business.<h3>Problem: Building dashboards is an ongoing, lengthy process</h3>Business intelligence dashboards take weeks or months to build. Your business may not have the luxury of sparing this time in data purgatory.&nbsp;Even when the dashboard is complete, it may not hold all your data, which means more resources are needed to input what remains. Some portion of your data must be extracted, managed, cleaned up, and organized, adding days and weeks to a process that should be immediate. &nbsp;As a result, updating traditional business dashboards may cost you just as much time as they save.<h3>Problem: Data collection relies on manual input</h3>Manual input subjects your business to risk from two perspectives:<ul><li>Time ROI and missed opportunities</li><li>Making decisions based on outdated data</li></ul><h4>Time</h4>While manually inputting data is an inconvenience, time is the double-edged sword of traditional dashboards. Not only is a time gap created with updating dashboards, but pulling data and dedicating labor to these tasks are sunk costs. &nbsp;If your teams are so focused on churning away at data processing, who is doing the work that actually drives the business forward? Tasking away at data isn’t effective for strategy execution. &nbsp;<h4>Decision making</h4>The global pandemic taught us how taking weeks or months to make a decision can put any business at extreme risk. Human input creates dependencies and lag effects, which affects confidence in your reporting. &nbsp;As a result of this uncertainty, we begin to understand why leaders in the Deloitte survey weren’t comfortable relying on their data to make decisions.&nbsp;<h3>Problem: Lack of prioritization</h3>No single person in your organization can possibly manage all your data at one time. Yet, this is how traditional dashboards function.Your people care only about the data relevant to them — anything else is stealing focus away from what needs to be accomplished.<blockquote>A good dashboard provides actionable information. There needs to be a reason for it. When you see a dashboard, you should immediately know what needs to be done.</blockquote>Unfortunately, dashboards don’t provide this visibility. The best they can do is display the data available, leaving you wondering:<ul><li>What are the important KPIs?</li><li>Where are they located?</li><li>What change is considered normal, and what is abnormal?</li></ul>Therefore, the data on these dashboards is neither distinguishable nor actionable — and any additional manual filtering or analysis they require defeats the sole purpose of having them.<figure class="image image_resized" style="width:75%;"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1675369588/site-v5/image_221a768fbb.png" alt="comic demonstrating the irony of having too many kpis and have a kpi to show how well the data is understood"><figcaption>Comic via <a href="https://marketoonist.com/2019/11/kpi-overload.html" target="_blank" rel="noopener noreferrer">Tom Fishburne</a></figcaption></figure><h3>Problem: Lack of AI and machine learning integrations</h3>Manual inputs create the dilemma of catching problems or signals too late.&nbsp;Without AI and machine learning, users will need additional time to detect anomalies and assess their relevancy based on static thresholds. &nbsp;<blockquote>We are approaching the point of <a href="https://en.wikipedia.org/wiki/Technological_singularity" target="_blank" rel="noopener noreferrer">technological singularity</a> — “A hypothetical moment in time when artificial intelligence and other technologies have become so advanced that humanity undergoes a dramatic and irreversible change.”</blockquote>With business behavior constantly evolving, critical questions arise:<ul><li>Shouldn't capabilities like KPI thresholds evolve too?</li><li>How do decision makers know when and how to adjust metrics?</li><li>How do we know inputs aren’t laced with human error?</li></ul>A lack of intelligent automation increases the chance that minor incidents slip through the cracks. Once gone undetected, they can quickly spread, turning into larger problems with a lasting negative impact on your business.<h3>Problem: Data is surface level</h3>Decisions need to be made with as much detail and context as possible. &nbsp;A modern business “dashboard” needs three successive capabilities:<ol style="list-style-type:decimal;"><li>Tell you what has occurred</li><li>Give you a deep dive into why</li><li>Uncover the driving force behind it &nbsp;</li></ol>A traditional dashboard, at its best, will somewhat accomplish capability #1, but lack the depth to inform you of #2 and #3. <a href="https://hbr.org/2017/01/3-ways-data-dashboards-can-mislead-you" target="_blank" rel="noopener noreferrer">Harvard Business Review</a> reports, &nbsp;<blockquote>“Although they can convey snapshots of important measures, dashboards are poor at providing the nuance and context that effective data-driven decision-making demands.”</blockquote>Consequently, dashboards can’t connect and correlate unexpected changes across different metrics, i.e., anomalies. Therefore, decision makers will waste time trying to understand the whole story behind the data and risk making misinformed decisions.<h3>Problem: Alert fatigue</h3>As mentioned, traditional dashboards rely on static thresholds, which constantly need to be reset based on changing business behavior. &nbsp;However, relying on human input to constantly update these thresholds is both impractical and inconsistent. Thus, alerts may be suddenly (and inaccurately) triggered across different KPIs, putting many operations teams into overdrive.<blockquote>They become fatigued after spending time sifting through “alert storms,” ultimately taking the sense of urgency out of the alert’s purpose.</blockquote>Without urgency, there is no focus, which ultimately harms <a href="https://quantive.com/resources/articles/strategy-execution-gap#step-1:-align-execution-to-strategy" target="_blank" rel="noopener noreferrer">the execution of your strategy</a>. Yet, the challenge remains of identifying which alerts are worth considering as an anomaly, false positives, repetitive, or minuscule. &nbsp;In dealing with the challenges of your modern business, the solution should be to reduce the quantity of alerts, while maintaining their quality.&nbsp;

There’s only one thing we know about our future in business — there will always be more data to sort, organize, and manage. No matter how advanced your current solution is, you can’t out-dashboard bad data management.<blockquote>Rather than trying to curate dashboards into a perfect-in-the-moment, yet fragile combination of visualization and sourcing, it’s time to rethink the idea of dashboards themselves.</blockquote>As a modern business, you’re seeking ways to make your data work smarter. Why continue spending hours of your week tediously checking in on endless KPIs, trying to make sense of what the endless stream of data means?With the surge of AI making headlines everywhere this year, any reluctance to what everyone claims is the “next big thing” is understandable. Business observability solutions provide advanced analytics, visualization tools, and predictive capabilities, all to help you identify problems and create solutions quicker.After reading this article, though, you have an understanding of why business dashboards are becoming obsolete. Embracing business observability as a concept is the next evolution in your business operations.<hr>Check out our <a href="https://quantive.com/resources/articles/business-observability-software" target="_blank" rel="noopener noreferrer">ultimate guide to business observability software</a><figure class="image image_resized" style="width:50%;"><a href="https://quantive.com/resources/articles/business-observability-software" target="_blank" rel="noopener noreferrer"><img src="https://res.cloudinary.com/gtmhub/image/upload/v1676645665/site-v5/Business_Observability_Software_TEMP_FILE_e21de24662.png" alt="Business Observability Software"></a></figure><hr>Quantive is your bridge between strategy and execution. Founded on the objectives and key results (OKR) methodology, <a href="https://quantive.com/resources/articles/strategy-execution-platform" target="_blank" rel="noopener noreferrer">our Strategy Execution Platform</a> is where businesses plan successful strategy, focus and align teams to it, and stay on the leading edge of progress.As your company looks to achieve the best possible results, you need a modern approach to <a href="https://quantive.com/products/results" target="_blank" rel="noopener noreferrer">run your business</a> and change your business. <a href="https://quantive.com/resources/articles/what-is-the-modern-operating-model" target="_blank" rel="noopener noreferrer">The Modern Operating Model </a>brings strategy, teams, and data together to help make decisions faster, optimize operations, and drive better business outcomes.Whether you’re a large enterprise facing competitive disruption or a small business leading the innovative charge, Quantive helps get you where you want to go.Ready to achieve the best possible? Start using <a href="https://quantive.com/products/results/pricing" target="_blank" rel="noopener noreferrer">Quantive for free.</a>

The Ultimate Guide to Business Observability Software

Make better strategic decisions with Quantive Singularity

Better understand how your organization will perform against strategic goals

Forecast OKR progress

Confidence overview

Engagement insights

Uncover what's behind your company’s successes and challenges

Leading KPIs

Lagging KPIs

Risk assessment

Steer your organization towards achieving its strategic goals

Birdseye organization view

Goal clarity

Improvement suggestions

Quantive Singularity pricing

Featured resources for management and strategy

Why Use the Modern Operating Model?

7 Best Practices for Strategy Execution

5 Industries Leading the Way for Digital Transformation

Why Business Dashboards Can No Longer Keep Up in the Modern World

Make better strategic decisions with Quantive Singularity

Better understand how your organization will perform against strategic goals

Forecast OKR progress​

Confidence overview​

Engagement insights​

Uncover what's behind your company’s successes and challenges

Leading KPIs​

Lagging KPIs​

Risk assessment​

Steer your organization towards achieving its strategic goals​

Birdseye organization view​

Goal clarity

Improvement suggestions​

Quantive Singularity pricing

Featured resources for management and strategy​

Why Use the Modern Operating Model?

7 Best Practices for Strategy Execution

5 Industries Leading the Way for Digital Transformation

Why Business Dashboards Can No Longer Keep Up in the Modern World

Forecast OKR progress

Confidence overview

Engagement insights

Leading KPIs

Lagging KPIs

Risk assessment

Steer your organization towards achieving its strategic goals

Birdseye organization view

Improvement suggestions

Featured resources for management and strategy