2. The speed of doing business is becoming ever faster
The astonishing growth in computer processing power
and data storage has begun to transform business. Mathematical power is being used to analyse everything from consumer behaviour to machinery maintenance.
“Never before has so much mental power been computerised and made available so broadly,” says Ram Charan, former Harvard professor and author of seminal business books such as The Attacker’s Advantage, Execution and Boards That Deliver.
Charan believes that the use of algorithms and maths has become a critical source of competitive advantage.
“The advantage for such businesses is that they can deal directly with buyers, without intermediaries, and can personalise the customer’s experience.”