RESILIENT BUSINESS
CHOOSE TO INNOVATE OR RISK BECOMING OBSOLETE
BUILDING A RESILIENT BUSINESS WITH DATA WRITER: TIM Q. M. MARTINA
34 34 WHY SHOULD YOU CARE? Human error is inevitable, but is it avoidable? In today’s ever-changing analogue world, full of conceptually complex problems, fuelled by massive information streams and clouded by intangible personal interests, the only constant factor here is the infinite number of variables. Unfortunately, structures with four independently interacting variables is at the limit of human processing capacity. This means that
whether we want to or not, we are biologically incapable of fully comprehending the world as we experience it. Okay, if we dial down the existential dread and focus on business, where does that leave us? How can we reach a state of continuous innovation? To what extent should we leave the current realm of descriptive analytics behind and focus on building an invincible resilient busi-
ness for the future? It is time to dive into Digital Transformation. WHY DATA? Businesses on Curaçao aspire to innovate. But many are still solving problems by making decisions intuitively and few are relying on Business Intelligence, which generally only provide business’ decision makers with statistical information of the past. Yet, what every business owner wants is a tailored infrastructure that predicts trends and behavioural patterns, while prescriptively provides actionable strategic advice. These are not just buzz words. It is the revolution we are in right now. With the huge demand for talent, the most eager to learn among us are enrolling en masse into online courses on Data Science and Machine Learning. More than 107,000 people enrolled into one course on the online learning platform Coursera on Data-Driven Decision Making in the first 4 weeks online. The essence of this Digital Transformation revolution is not about digitising mouldy paper contracts, nor is it solely about digitalising current business processes onto apps and online platforms. Digital Transformation is about exploring and exploiting new business models by making
CURAÇAO BUSINESS | EDITION 1 | 2020
