3. Digital Strategy

Question 1

What is a disruptive technology?

Answer 1

One which changes the nature of the product or the way it is delivered

Question 2

What is cloud computing?

Answer 2

The use of the internet to carry out processes that were traditionally done on localised hardware

Question 3

What is Software as a Service?

Answer 3

E.g. a remote based email service

Question 4

What is Infrastructure as a Service?

Answer 4

E.g. internet based data storage

Question 5

What are the 7 benefits of cloud computing?

Answer 5

1. Reduced need for investment in infrastructure
2. Flexibility
3. Disaster recovery
4. Ability to collaborate
5. Security
6. Environmental friendliness
7. Competitiveness

Question 6

What 2 elements of strategy does cloud computing influence?

Answer 6

1. Who is working when - efficiency in global orgs
2. Product - some old products become redundant

Question 7

What is big data?

Answer 7

A term given to collections of data that are so large that traditional methods of data collection are insufficient, and the technology used to analyse

Question 8

What are the 4 Vs of big data?

Answer 8

1. Volume
2. Variety
3. Velocity
4. Veracity

Question 9

What are the 5 main benefits of big data?

Answer 9

1. Transparent and accessible information for trend predictions
2. Minimise risk by testing scenarios
3. More potential for customer segmentation and targeted marketing
4. Better business decisions through insight
5. Developing future products with faster time to market

Question 10

What 2 elements of strategy does big data influence?

Answer 10

1. Cost reduction from operational efficiencies
2. More strategic options/factors

Question 11

What is process automation?

Answer 11

The use of software to carry out low level tasks

Question 12

What 3 elements of strategy does process automation influence?

Answer 12

1. Cost saving (internal or outsourced)
2. Organisation more available to customers (24 hr robots)

Question 13

What is artificial intelligence?

Answer 13

Technology that can be used to make decisions

Question 14

What type of system have AI systems moved to, from?

Answer 14

From rules based systems towards pattern learning systems

Question 15

What are the 2 considerations to be made as to whether AI can be implemented?

Answer 15

1. Extent to which decision is data processing
2. Extend to which decision should be influenced by empathy/creativity

Question 16

What are the 3 main benefits of AI?

Answer 16

1. Machines can process considerably more data
2. Machines can identify patterns better
3. Machines do not suffer from human characteristics e.g. bias, tiredness, boredom

Question 17

What are the 2 limitations of AI?

Answer 17

1. Limitations of input data
2. Limited access to data

Question 18

What 2 elements of strategy does AI influence?

Answer 18

1. Forecasting improvements
2. Deciding between strategic options

Question 19

What is data visulation?

Answer 19

Communication of data in a user friendly, diagrammatic way to facilitate understanding

Question 20

What element of strategy does data visualisation influence?

Answer 20

Powering strategic choice

Question 21

What element of strategy does data visualisation influnce?

Answer 21

A decentralised, continuously growing data record

Question 22

What is the Internet of Things?

Answer 22

The increasing connection of devices to the internet via new technologies such as cloud computing

Question 23

What are the 5 benefits of 3D printing?

Answer 23

1. Reduction of waste
2. Customisation
3. Flexibility
4. Reduction of supply chain
5. Reduction of distribution costs