So what is big data? This is what companies know about us. Aggregated from numerous sources and analyzed for patterns. Big data is what helps banks predict and flag credit card frauds. Little data on the other hand is what we know about ourselves. “What we buy. Who we know. Where we go. How we spend our time. We’ve always had a sense for these things — after all, it’s our lives. But thanks to the combination of mobile, social, and cloud technologies, it’s easier than ever to gain insight into our own behavior” writes Mark Bonchek in this HBR article.
Jordan Valencia, Programs and Partnership Manager at Grab Ventures, in her latest article in Harvard Business Review talks about the need to focus on culture when companies are in the Hyper Growth phase. Defined by Alexander V. Izosimov in HBR in 2008, “Hypergrowth refers to the steep part of the S-curve”. The rapid growth comes with steep rise in employee count. This is where the challenges set in.
It is clear. Everything legacy, every business, every process will be disrupted. So the choice is yours if you will be the one to be disrupted or you will be the disruptor. The disproportionate value that the disruptor harnesses is clear (Uber, AirBnB, Dropbox, Zappos). What makes someone to become the disruptor? Sometimes it is by accident, but more often than not it is because the disruptor decides it was enough of the status quo and acts.
The story of Visicalc as written by Tim Harford in bbc.com in a very recent article is indeed eye-opening. Not only because it tells the story of the first sensation in business software but because he shows how it showed the earliest signs of destruction of jobs by technology. And then creation of new ones.
Hugh Durkin, Director of Platform Partner Success Hubspot, has been following mobile habits and writing on shifts that he sees in the space. Way back in 2016, when he was a Senior Product Manager at Intercom, he wrote about how browsers are the future of mobile. Data in support – “ most US smartphone owners ( read 65%+) download zero apps in a typical month,” according to Comscore’s then report on mobile apps ( how many new apps did you download last quarter?) and it goes on to show that the top App takes 50% of use time while the top 3 are responsible for 80% of the mobile usage.
As one looks at folksy quotes from Warren Buffet it was interesting to see what has been the reaction to the 2019 Berkshire Hathaway Annual General meeting at the CHI center at Omaha Nebraska where as tradition goes Warren Buffet(88) and Charles Munger (94) answered shareholder questions for 6 hours (link to entire proceedings courtesy Yahoo Finance, below). I am not a stock market buff and I went looking for native wisdom that might have been shared by the two legends. Here is what I found as I read around.
Ever wonder why Hubspot gives away most of their software for free? Their CRM, Sales Automation, Calendar applications are all available for users without charge. Joel Spolsky, Founder of Stack Overflow, identified what would be recognized as a major pattern in technology business in his post ‘Strategy letter V’ (in June 2012) – “companies seek to secure a chokepoint or quasi-monopoly in products composed of many necessary & sufficient layers by dominating one layer while fostering so much competition in another layer above or below its layer that no competing monopolist can emerge, prices are driven down to marginal costs elsewhere in the stack, total price drops & increases demand, and the majority of the consumer surplus of the final product can be diverted to the quasi-monopolist.”
Kate Leggett, VP and Principal Analyst Forrester, has been looking at AI, Customer service, CRM and related areas for a long time. In her recent post she underlines 3 customer service mega trends. According to Kate, as AI eats predictable and repetitive jobs, SuperAgents will appear as Customer service becomes high touch. They will handle critical customer interactions that require deep subject matter knowledge or product ecosystem expertise.