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It's that time of year when we relax a little, spend time with our families, and think about the year ahead. It's also the time when we can get the downtime to deliver some of the things we did (or wanted to do).
Here at Business Insider / Research, we've collected the themes that are resonated and which ones we think are going to be the most influential as we head into 2019.
Culture is King
One of the most outstanding aspects of the research we have this year on digitization, on companies, on their workforce, on stakeholders, and customers.
Back in February Kate Allan reported that "Culture eats strategy for breakfast" and that to McKinsey report how to be executives need to be aware "when creating a strategy for your organization there are many obstacles. It's important to know what they are and how to get them. "
The point McKinsey says he is "social side of strategy" [is] I know pervasive ". The answer lies in understanding the inherent behavioral biases that impact decision making.
But the message has not got through yet. Say work culture has to change. The piece was nicely book-ended with a PwC survey which showed 80% of workers. Less talk-and-walk was the key from the piece in December.
PwC's survey management is listening to the wrong people and should, "challenge and foster healthy debate and real feedback from people across departments and across levels. Connect with people who are emotionally smart and who have insight into what people care about most ".
Out with the legacy hierarchical structures and in the most flexible, diverse and inclusive regimes that is powered by ideas not rungs on the ladder.
Mia Kwok reported in October.
Jeffery Hollender, professor of sustainability at NYU Stern, told Business Insider:
"The truth is that you will be doing better than you are doing the same as doing a great sustainability program." Those things translate into better financial performance. "
Bitcoins bubble has burst but Blockchain is a game changer across so many industries
Just a year ago Bitcoin was trading somewhere north of $ 18,000 per coin against the US dollar, as the frenzy of excitement on the transformative nature of cryptocurrencies was at its own peak. The underlying technology on which it sits – blockchain or distributed ledger technology (DLT) – was less exciting at the time.
Fast forward 12 months and the price of Bitcoin is languishing around USD $ 3,500 as the bubble has burst and miners turn their mining rigs off.
But as Bitcoin lost its luster, so blockchain and other forms of DLT star has risen.
Bitcoin was the proof of concept of the technology in the years to the end of 2017, this years saw the transformative impact of the DLT on business.
Chris Pash reported in April that Australian farmers have started to use blockchain to track. Blockgrain, he wrote, "allows farmers and their logistic companies to track grain. It also provides farmers with the ability to create, manage and track commodity contracts ".
It's a global phenomenon David McDonald reported in June highlighting Brookings Institute research which showed "IBM, Walmart, and the Chinese retailer JD.com together with Tsinghua University have announced a blockchain food safety alliance to improve food tracking and safety in China. Decentralized ledger technology can trace back the origin of food products in a few seconds instead of a few weeks.
Business Insider Australia's research partner, the Commonwealth Bank, has been at the forefront of the advances in blockchain and DLT in agriculture and beyond. We reported in August that the Commonwealth Bank has overseen the delivery of agricultural goods to Europe using the blockchain and the Internet of Things (IoT) technology. They have tracked a shipment of almonds in a blockchain experiment that participants believe the potential to reimagine global trade.
Sylvia Preda, Executive Director, Industrials and Logistics at the Commonwealth Bank, told Business Insider:
"One of the key objectives in distinguishing this experiment from other work. This is the only genuine multi-participant supply chain experiment that we're aware of currently. "
Melissa Poon, general manager of trade development at the Port of Melbourne, told Business Insider, because the experiment has shown blockchain could simplify many existing processes and drive productivity gains for the businesses involved in the supply chain.
In October, Chris Pash reported the Commonwealth Bank was involved with Wells Fargo in China. The Bank of the Bank was announced by the World Bank during August.
Data is creating opportunities but it still needs insight
One of the core themes that pops up consistently in our research is the ubiquitousness of data, its collection, collation, and availability to businesses. The Internet of Things looks set to provide a tsunami of information for businesses about themselves and their customers.
As Peter Farquhar reported in September, that means the IoT could throw up enough data to generate $ 308 billion for Australian businesses.
"Australia's IoT Opportunity: Driving Future Growth", a report commissioned by the Australian Computer Society and prepared by five key sectors – construction, mining, healthcare, manufacturing and agriculture – IoT has "the potential to reinvigorate Australia's stagnant productivity growth ".
"As IoT has matured, the highest value of an IoT solution is no longer than sensors and actuators, rather in artificial intelligence," ACS President Yohan Ramasundara said, noting " however crude oil, and needs to be refined ".
It is that refining which I touched on in November, highlighting that Insights – not the key to understanding your customer.
Exactly how the relationship between data, customers, and businesses have changed and what this means is explored in our latest Business Insider / Research study looking at "Data and value in modern retail"
"There is no shortage of information, no shortage of data. "Retailers are long on data," says Jerry Macey, National Retail Lead at the Commonwealth Bank.
And finally, in case you missed it:
I've been in banking for more than 30 years. Here's what I've learned from some of the world's leading fintech companies.
We'll be back in 2019 – Merry Christmas and Happy New Year.
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