About the Speaker Ravi Gorur
Ravi Gorur is the CEO of ZippSlip, He works as a Chief Technology Officer of a few companies, enterprises, multicompanies. He is interested in topics like Technology and Entrepreneurship. He likes racing cars. He started 40 years ago in Technology and Software. He works for large companies but he gets very excited with startups as they are on adrenaline rush, he believed there’s a lot of things can be done.
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Highlights of the discussion
Join this episode of the The Business Blind Spots Exposed Podcast with Ravi Gurur. In this episode we discuss the opportunities small business have in times of COVID, how Data collection is the eyes of your business, how to scale a small business and many more.
- 2020 as a Reset Year for Technology: The year 2020 forced many organizations, particularly small ones, to rethink their technology and data strategies. The abrupt switch to remote operations exposed several weaknesses in their existing systems, offering a chance for necessary improvements.
According to McKinsey, 85% of companies accelerated their digitization during the pandemic.
- The Importance of Adaptation and Reactive Measures: Organizations initially struggled to adapt to the new normal. While some were frozen in fear, the smart ones saw it as an opportunity to overhaul their technology to better serve their community and internal needs.
A Gartner survey found that 69% of Boards accelerated their digital business initiatives following COVID-19 disruption.
- Strategic vs. Ad Hoc Technology Choices: The discussion emphasized the need for a strategic approach to technology and data rather than seeking point solutions. Companies often don't know what's out there and make ad hoc decisions which can create long-term inefficiencies.
Only 7% of companies have fully implemented their digital transformations (MIT Sloan Management Review).
- Data-Driven Decision Making: Organizations still have gaps in how they collect and utilize data. The conversation underscored the importance of using data to improve interactions between employees and customers and to make better strategic decisions.
According to Forrester, organizations that are insights-driven will grow at least 8 times faster than global GDP.
- Customer-Centricity and Employee Engagement: Focusing on customer and employee experience is pivotal. Technology can aid in creating delightful customer experiences and making businesses more efficient, from surveys to training content.
Companies that lead in customer experience outperform laggards by nearly 80% (Qualtrics).
These bullet points encapsulate a conversation that delves into the profound impacts and potential of technology and data in shaping small businesses' future in a post-2020 world.