Wednesday, July 27, 2011

Life Is Real-Time

If your business is going to survive, it needs to react in real-time.

It used to be that high transaction costs forced businesses to collect many small transactions into batches and then process them all at once. Batches made the entire process cost effective. But those days are over.

As more of the economy shifts, it will become increasingly important for your business to respond in real time. Like nature, you will need to react in the moment; that means no more waiting overnight to process incoming information -- it needs to get done ASAP.

And to make matter worse, more and more information will be pouring in. Soon ubiquitous computer chips will be in everything we own -- collecting simple information on our usage or habits. The longer we let that information sit, the less relevant and useful it becomes.

There is a rising tide of customer service success stories coming from social media. Companies that leverage the real time power of social media have been able to keep customers happy. Moreover, because this is done in a public, transparent setting, there is a ripple effect on the community as a whole. Suddenly everyone can see how well (or poorly) the company dealt with the customer's grievance. This is the kind of social proof that cannot be purchased with TV commercials.


Obviously, not all real time data is useful and not all information should flow everywhere. But, increasingly, only real time information will be meaningful. You should take the time to examine the speed of knowledge in your systems. You must make it a top priority to bring that speed as close to real time as is reasonably possible.

Is your business responding in real time? If not, call (305) 423-9574








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