February 20, 2024

The Tech Trailblazers' Guide to Going from Blockbuster to Netflix

The Tech Trailblazers' Guide to Going from Blockbuster to Netflix

Technology holds the power to catapult business growth trajectories to new heights. Learn the importance of making technology an integral business priority.

Written by

Wei-Chung Wang

CEO & Co-Founder

In the movie Jurassic Park, Dr. Ian Malcolm wisely states "Life finds a way." This adage rings true even in the world of business - where technologies continue disrupting even the most ironclad industries and business models. Blockbuster couldn't compete with on-demand Netflix. Big box retailers struggle against the convenience of one-click Amazon. And cab companies flail helplessly against ride sharing upstarts like Uber and Lyft. The message is clear: innovate or die.

Luckily, business technologies today not only promise survival but turbocharged growth for companies nimble enough to adopt them. From data-fueled decision making to customer experience transformation - the examples below demonstrate how strategic tech integration can future-proof processes, cut costs and delight customers.

Rescue Revenue With Supply Chain Smarts

Legacy supply chains are fragmented, siloed and ripe for disruption. Unified smart supply chain platforms like Kinaxis pool data across the procurement, manufacturing and logistics functions - breaking down existing walls while enabling end-to-end visibility and real-time planning.

With supply chain transparency, companies can rapidly adjust inventories based on trends, capitalize on customer demand shifts and optimize partnerships to minimize costs. Market leaders Lenovo and Schneider Electric rely on Kinaxis to rescue millions annually through supply chain efficiency.

Fast-growing startup Flexport relies on a custom-built operating system to manage logistics across air, ocean and ground transport for leading brands. By synthesizing shipment data, trade histories and online platform interactions, Flexport creates a single source of truth - helping clients rapidly shift sourcing or transport modes amidst global supply shocks. The results? Flexport's valuation skyrocketed 20X over 5 years as delighted customers steered growth through word-of-mouth referral.

AI Assistants Elevate Experiences

Repeat after me: customer experience is the new competitive battleground.

But delighting consumers in 2023 requires more than just slick interfaces. It demands anticipating needs, solving problems instantly and delivering personalized engagement.

Enter AI-powered chatbots and virtual assistants.

Whether integrated into websites, mobile apps or popular messaging platforms, smart conversational agents use natural language understanding to address queries, recommend products and route complex issues to the right teams.

Data shows over 50% of customer inquiries can be resolved completely via automation - slashing call volumes and support costs. By melding human intelligence with machines, businesses elevate experiences customers have come to expect in 2023.

Harness Data to Prevail

"Without data, you are just another person with an opinion." While W. Edwards Deming spoke those words decades ago, they ring truer than ever today. Every business decision - from budget allocation to product development - now relies on an underlying data foundation driving objectivity and precision. Predictive analytics platforms like Tableau and SAS allow employees to build models, run simulations and generate data visualizations without coding skills. Leaders can shift from gut feel to insights generated from statistical analysis, machine learning algorithms and what-if scenario modeling.

The result? Optimized marketing spend, reduced customer churn, higher shareholder returns - and ultimately a business strategy driven by cold hard facts rather than hunches.

The Bottom Line

Technology, when implemented strategically, holds the power to not just transform but catapult business growth trajectories to new heights. Companies that fail to incorporate data, automation and artificial intelligence into their business models risk being left behind as outdated relics.

On the other hand, by making technology an integral business priority across operations, supply chains and customer engagement - market leaders reimagine possibilities, resiliently thrive amidst uncertainty and future-proof for generations to come.

So what possibilities will you reimagine today? The choice is yours. Transform or become a dusty artifact in the graveyard of obsolete businesses. Reach out to us for a free audit of your business process to review the challenges you have.