fbpx
Turning Reverse Engineering of Business Goals into Strategies

Turning Reverse Engineering of Business Goals into Strategies

Turning Reverse Engineering of Business Goals into Strategies

Business Innovation Brief Best Article

A lot of learning can come from reverse-engineering many things. In business it can be a creative process on how to bring about new change, and innovation.

Tech Backstage interviewed Jason Jepson to learn more about reverse engineering. We talk about reverse-engineering outcomes into strategy, building and positioning for technology, and the ins and outs of storytelling.

The Tech Backstage Podcast is a live streamed video podcast that goes behind the scenes with today’s leaders of industry to learn what technologies are solving business problems, and how Design Thinking applied to the future of technology is impacting the world.

Reverse-Engineering

Reverse-engineering means dismantling an item to check its functioning system. This method is applied to examine and thoroughly understand it, particularly to enhance the item. We can reverse-engineer various things such as machines, software, different types of devices, and so on.

The reverse-engineering process is generally applied to software and hardware from older companies. It depends on the technology and what knowledge can be gained during reverse engineering.

The information or the knowledge can be used to do security analysis or to remodel unused items. In other terms, reverse engineering is gaining knowledge from a finished product.

So, be it an engineer or a business owner, everyone can reverse-engineer a business process by starting with the end goal while looking at the business.

Reverse-engineering can let us focus on the important aspect as an outcome instead of just focusing on easily measured things. Therefore, every organization can drive innovation from a blend of data, process, output, and outcomes.

With reverse engineering, outcome, output, process, and data are bound to walk backwards. It might be challenging, but it is a rebooting approach where the focus on the outcomes can be a win-win for all.

Business Reverse-Engineering

To get reverse engineering turned into a strategy, looking at a business is crucial. When we view it, it gives insight into its functions, data, the process of functions, estimation of its outcome, and input.

Jepson states that with an example by providing a difference between a 5000-dollar client and a 1000-dollar client. They have the same desires and wants. The difference is that one understands and knows what they are building for their company. They have insight into their goal. But the other client, without knowing the business, has a system that will not serve its company in the long run.

Without a proper strategy or reverse-engineering of the business as a whole, “pulling information or calling that insight is very difficult.”

It might take business owners “constantly wagging different battles,” but it is crucial to figure out how to remove them. Finding those pieces of information while viewing the business is crucial.

You need to have a strategy to move forward, but before you build the strategy, you must understand what you want to do. Then you can find out where the problems lie. Then, you need to sit down and think about the outcome and then work backwards.

For instance, Amazon uses reverse engineering. First, they target a result, then, they proceed to go ahead.

The Reverse-Engineering Process

Irrespective of the context, some fixed steps are common regarding reverse-engineering efforts. They are:

Extraction of Information: The business or any object to be reverse engineered is analyzed. The information about its process, functions or design is extracted to determine how all the pieces fit together. For example, in the case of software reverse engineering, engineers need to gather the source code or the design documents to examine. While for a business, the steps might be to check its outcome first, then determine the input, functions, and process.

Modeling: In this step, the information that has been collected is transformed into a conceptual model with all the pieces explaining its function to predict the outcome. This step aims to take data from the original to form a general model. This model can guide the designing of newer models or processes.

Review: In this step, the team can review the model and test using various circumstances to make sure it is a realistic abstraction. When the process is tested, the process or the model is ready to be implemented to reengineer the original item.

Conclusion

Reverse-engineering means trying to purposefully break things so that we can fix them before they break on their own. This is done so we can bring the best positive change and experience to people.

Jepson says we want to embrace technology in a way to create a healthy relationship with tech where people can feel good when make use of it. There is always a need to create something that complements people. These are the little things that make a big difference.

Check out the full interview below.

Business Innovation Brief
Blog Subscrition Here
Loading

The Hyper-personalization Data and Privacy Debate - Solved

The Hyper-personalization Data and Privacy Debate - Solved

The Hyper-personalization Data and Privacy Debate - Solved

Business Innovation Brief Best Article

The Internet is an essential part of our life. We surf the internet throughout the day, looking for various products or services online.

Data is what we share with the websites we visit. But do we know what happens to our shared information or how our preferences pop as ads?

In this podcast recap blog post, we will discuss how websites store data, what goes on with the data that we share, and how we can have an option to control our data to have personalized experiences.

Recently caught up with Jacob Borgeson on the Tech Backstage Podcast.

The Tech Backstage Podcast is a live streamed video podcast that goes behind the scenes with today’s leaders of industry to learn what technologies are solving business problems, and how Design Thinking applied to the future of technology is impacting the world.

Tech Backstage interviewed Jacob Borgeson Director of Product Marketing at Wyng, to learn about data privacy, protection and hyper-personalization.

Product Marketing Versus Traditional Marketing

Product marketing is about bringing a product to market. You do this by deciding the product’s positioning and messaging, launching the product, and ensuring salespeople and customers understand it. Product marketing aims to drive demand and usage of the product.

Product teams provide customer feedback and marketing insights, and this helps marketing & sales teams with better positioning in the market. It is a key department to help organizations increase leads and sales.

Product marketing greatly relies on being the voice of the company to the market and the voice of the market to the company. Therefore, in product marketing, doing a lot of research and analysis and talking to customers is essential. All the information informs the company’s sales team on how to talk about the products and sell them.

Traditional marketing refers to any type of marketing that isn’t online. This means print, broadcast, direct mail, phone, and outdoor advertising like billboards. From newspapers to radio, this method of marketing helps reach targeted audiences.

Then there is digital marketing. The main difference between digital and traditional marketing is the medium through which an audience encounters a marketing message. While traditional marketing uses traditional media like magazines and newspapers, digital marketing uses digital media, such as social media or websites.

In modern times with the internet, ads can follow consumers and track what they do. This has been referred to as the surveillance economy. Marketing has become reliant on this never-ending loop of perpetually connected consumer data.

Today, product marketers use digital mediums more often due to the value they can derive from consumer data that is readily available online, however with more access to consumer data also comes challenges related to privacy

Transforming Data Privacy

Data is shared by people on the internet via many platforms, even if advantageous can sometimes be disadvantageous to many people since the data can be misused.

There is always an opportunity for marketers to build better experiences where they can dig into the roots of marketing by teaching people about the company’s value, while also respecting privacy. It can be done so that people have transparency, choice, and control over what happens to their data.

For instance, at Wyng, the team believes that people share data with companies or brands only when they perceive the products and services as bringing value to them. So, they focus on using and consuming data while protecting it and providing privacy.

Companies invest time and money to make assumptions based on people’s behavior, demographics, and what they search for or click on, whereas the brands can also question consumers about their likes, dislikes, or preferences.

People also should know how their data is being used. Wyng has an open data consumption policy within the company. Brands use the data to assume more about people’s preferences based on things they value, so when an ad pops up about what they are looking to purchase, people voluntarily will share their information.

Embrace Privacy

Wyng focuses on moving towards zero-party data. It is the data that people share intentionally on websites. First-party data is the data that websites observe, whereas third party data is the data that people get from various sources. However, zero party data is the only data that is voluntarily given and is considered the best because of the following reasons:

1. Understand Consumer’s Preferences: With this data, the clear intentions of people can be determined. It is because they tell their likes and preferences and making any assumptions on the company’s part is not required.

2. Can be Acted Instantly: Secondly, after knowing consumers’ preferences, companies can act instantly. Companies do not need to do any processing since they can just take the preferences and match them up to the right products or services.

We see Wyng trying to get brands to transition to zero-party data instead of traditional methods. They use tools designed to collect zero party data by offering people value in exchange for their preference information and then being able to, in an API-driven platform, plug that preference data into all other tools to drive better, relevant, and personalized experiences.

Zero Party Data

Zero-party data is the data that the consumers share voluntarily to websites or brands they visit such as personal context, their purchase intentions etc.

Zero-party data can assist in the journey of finding consumers their required products or services. With zero party data consumers get the right products easily.

For instance, when a consumer comes to a website and says that they require moisturizer for dry skin, the website will focus on showing all the testimonials for people using the products having dry skin, or it might take the consumer right to the products that deal with dry skin. With this implementation, they can have a narrower yet more personalized experience.

Wyng mainly focuses on e-commerce website to provide a better customer experience. Zero Party Data in the Wing platform is like a CRM or CDP that is constantly consumer driven since they provide insights voluntarily.

Conclusion

The most valuable thing that a marketing system can have, is relevant data that consumers share voluntarily to personalize their experiences.

Consumers’ data with zero-party data can be a value-added option where people willingly share their data and receive a narrow, personalized, and a better experience. Moreover, they can also opt-in and out according to their choice.

Marketing systems should offer value, and the interaction with consumers must be valued to build trust. The building of trust leads to engagement and purchases.

Check out the full interview below.

Business Innovation Brief
Blog Subscrition Here
Loading

Unlocking Innovation with Data, Creativity, and Automation

Unlocking Innovation with Data, Creativity, and Automation

Unlocking Innovation with Data, Creativity, and Automation

Business Innovation Brief Best Article

There are many different paths to achieving success. For some, it may be through hard work and determination, while others may find success through innovation with creativity, data, and automation.

No matter what your path is, it’s important to stay up to date on the latest trends and technologies to stay ahead of the competition. In this podcast recap blog post, we will discuss how innovation derived from creativity, data, and automation can lead to success.

Recently caught up with Alex on the Tech Backstage Podcast

The Tech Backstage Podcast is a live streamed video podcast that goes behind the scenes with today’s leaders of industry to learn what technologies are solving business problems, and how Design Thinking applied to the future of technology is impacting the world.

Tech Backstage interviewed Alex Garcia Gonzalez to learn more about his journey from adopting a dog, to building one of the biggest B2B pet care companies in Mexico.

We learned how Alex found it difficult to catch hold of better foods and treats for dogs, and how he began to dig into the pet care industries in Mexico. Alex was astonished to find that only a few industries offered innovation compared to the pet markets in the U.S.

The aim to improve and better the lives of pets lead Alex and his co-founders to launch a business to provide foods that were better for them. They started by selling brands of better foods and treats for pets through eCommerce platforms and tech tools. 

The co-founders always looked forward to making a lovely and enjoyable customer journey for pet lovers and improving their pets’ quality of life.

The success of Alex’s company, Pet Markt Co, was a combination of creativity, data, and automation. Let’s look at the value of all three.

Creativity

To innovate, you must be creative. It’s that simple. Too often, people try to come up with new solutions by looking at things in a different way, when really, all they’re doing is rearranging the same information. 

“To truly innovate, you need to look at problems from a fresh perspective and come up with creative solutions.”

To come up with new ideas and solve problems, you need to be creative. Many people think that creativity is a skill that you are born with, but this isn’t true. Anyone can learn to be creative if they put in the effort.

The first step to becoming more creative is to keep an open mind. Be receptive to new and different ideas, and don’t be afraid to try something new. It’s important to be flexible and adaptable in your thinking.

Five Steps to Becoming More Creative

Step One: Be Willing to Take Risks

The first step to becoming more creative is to be willing to take risks. This means being okay with making mistakes and not being afraid to try new things.

Step Two: Be Open to New Ideas

The second step is to be open to new ideas. This means being willing to listen to others and consider different perspectives. It also means being open to change and trying new things.

Step Three: Be Persistent

The third step is to be persistent. This means not giving up when things become difficult and continuing to strive towards your goals.

Step Four: Be Patient

The fourth step is to be patient. This means giving yourself time to experiment and not getting frustrated if things don’t work out immediately. Sit in the question long enough to let the answers emerge.

Step Five: Believe in Yourself

The fifth and final step is to believe in yourself. This means having confidence in your abilities and knowing that you can achieve anything you set your mind to.

Data

Data is the lifeblood of any business. It’s what drives decision-making and helps companies improve their products and services. In the world of b2b tech, data is even more important. That’s because it can be used to create innovative products that solve real-world problems for customers. 

According to a study conducted by MIT Sloan Management Review and Deloitte, over 60% of executives say that data-driven decision-making is “critical” or “very important” to their success. However, only 24% of companies surveyed said they were very effective at turning data into insights. Clearly, there is room for improvement!

“By analyzing customer data and using it to drive product design and development, companies can create products that are in high demand and tailored specifically to their customers’ needs.”

A recent study by Forbes Insights found that data-driven innovation is the key to success for B2B tech companies. According to the report, 60% of respondents said that data was “critical” or “very important” to their innovation process. This should come as no surprise, given the amount of data that is available today. 

The challenge for businesses is finding ways to make use of all this data to drive innovation.

By leveraging big data analytics and artificial intelligence (AI), coupled with strong creative thinking, businesses can gain powerful insights that help them improve operations, identify new market opportunities, and create better customer experiences.

We learned in the Tech Backstage podcast how Alex uses Google Data Studio, for example. Alex put all their ERP data into the Amazon warehouse, and from there, they pull out data using the google data studio.

First, they have their commercial forecast in terms of sales and strategies. Then, they compare themselves with how they do operations according to the plans in a day or week to check if their status matches with what they had forecasted. 

With it, they can predict units and money since they are essential dimensions in sales. They can also pull their financial data and compare their forecasted EBITDA with their real-time EBITDA monthly. They can also have all the primary sales data in the google data studio that integrates the sales happening on Amazon.

We also learned how they make sure to pursue marketing and advertising efforts to move the sellout to their retail partners. Secondly, using the Data Studio, they make more predictive analyses. 

These tools and data help to forecast the trends to check what will happen if they move at this rate, if they require more stock, or if they need to inform their supplier ahead of time if it is required to make more products so that it will be easier to ship when the consumers order them. Thirdly, marketers also need tools for automating campaigns on Facebook and other platforms. 

Alex states that feeding the tools with the correct data is required to make them better and more efficient. Therefore, the data studio has been a faster, more innovative means of productivity.

Automation

Automation is a huge part of tech and is ingrained in almost all modern companies’ development platforms. It is because it improves accuracy and safety, reduces waste and human error, and increases productivity and ease of scalability. 

For instance, let us check how Pet Markt Co. integrated the automation process from the initial stage and how it developed into a full-fledged system on its own:

Partner with third-party logistics: The company operated by partnering with third-party logistics in Mexico. The third-party provided ready systems to operate the company’s inventory and pick orders.

Build your own systems: Next, the company built their own warehouse to identify what orders had been ordered by customers and how fast they were delivered. The visibility and integration were successfully set up with their ERP. All the orders, deliveries, and other data went through the ERP into the google cloud database depending on the level of integration.

They were quickly notified to the slack channels about the orders if the orders were shipped, packed, or had been delivered. It did not require any reporting about the happenings in the industry.

B2B Automation: The company also has automation in terms of marketing. For instance, when customers order products, they make sure it is validated after the account is successfully created in the e-commerce platform and mapped to HubSpot which inputs the information into their ERP.

Automation process can positively impact a business while also coming packed with various complexity, but the business will surely soar with such successful business strategies.

Pet Markt Co. is an inspiration for how it was initially founded and how it developed its business system with the help of tech tool. It challenges other companies by making better market products and helps pet parents provide their furry companions with a quality life with better foods and treats.

Conclusion

To innovate at a higher level, you need creativity and data. Many people think that creativity and data are two separate things, but the truth is that they go hand in hand. To solve problems and come up with new ideas, you need to be creative.

To determine whether those ideas are good ones, you need data. After you’ve unlocked innovation, having automation in place will help you scale it in a sustainable way.

The key to innovation is combining creativity and data to come up with the best possible solutions, and finally using automation to streamline operations at scale.

Check out the full interview below.

Business Innovation Brief
Blog Subscrition Here
Loading

Engineering the Future from Astronomy to Augmented Reality

Engineering the Future from Astronomy to Augmented Reality

Engineering the Future from Astronomy to Augmented Reality

Business Innovation Brief Best Article

When you have a vision of a mission in mind, you can explore a range of possibilities to achieve it. You can dive deep into a sea of subjects even if it is a long journey ahead. Jason Lozo exemplifies such an innate interest in exploration.

Recently caught up with Jason on the Tech Backstage Podcast

The Tech Backstage Podcast is a live streamed video podcast that goes behind the scenes with today’s leaders of industry to learn what technologies are solving business problems, and how Design Thinking applied to the future of technology is impacting the world.

Tech Backstage interviewed Jason Lozo to learn more about his journey from being an astronomer to an optomechanical engineer at Microsoft HoloLens.

We learned that Lozo’s eternal itch to do something better in life ran through his veins.

He gravitated into astronomy after completing high school, graduating from the University of Washington, and completing an M.S in Mechanical Engineering, then accepting a Research position at the University.

Currently, Jason is a Senior Photomechanical Engineer at Microsoft in Seattle, WA.

Optomechanical Engineering

An optomechanical engineer designs and develops optomechanical devices and systems. They also create and develop components like optical mounts and optical mirrors.

Engineers combine optical and mechanical engineering while designing these systems or devices. They research, analyze, and test systems or machines and supervise research.

Optomechanical engineers deal with glass, and many more optics are involved at the core. These engineers consider how to design things right for manufacturing and what materials should be used. They also take designs from optical engineers.

For example, optical engineers use ethereal lens design and pack them to protect and convert them into reality. In simple terms, these engineers take the optical theory into use to convert them into physical and practical objects.

The work they do also involves high-level modeling to create these optics. They invest much time in calculating objects’ design, like what happens if the lens is moved by 15 microns in a direction or if the lens’ curvature is a bit wrong.

They also calculate what might happen if you apply force to the housing, and if the lens is deflected in one direction, will it make a difference in the optical performance.

These are the kinds of simulation that goes into the making these devices, so they require high-level design and prototype modeling, involve a lot of simulation and front-end work that goes into building useful devices.

Augmented Reality

Augmented Reality is an interactive simulated experience of real-world environments. A computer-generated perceptual information enhances the objects that reside in the real world.

In the future, augmented reality devices will potentially notify you where the devices should go on your face. In the future AR devices can be your smartphone, but on the face. There will be a possibility of getting directions immediately, as an example.

Recently, Google tested an application where people can translate languages instantaneously. For instance, when you read a sign or somebody speaks in a language you do not understand, the device can automatically translate it into a language that is understandable.

Furthermore, the industry aims to create a socially acceptable pair of glasses with an augmented reality device. Companies like Facebook partnered with Ray Ban, where they built cameras in the glasses to help document the activities of daily life. It has also been predicted that people will see a huge application boom since engineers are driving towards it. It is already seen in games, for example.

The Role of Optomechanical Engineering and Augmented Reality

As an optomechanical engineer, Jason Lozo has described the actual mechanics of the devices he creates. First, there is a tiny projector in the arm of the glasses that projects light into the glass plate that relays the light directly into your eyes.

It is like having a film projector on the glass surface. It’s kind of like software magic. Next, Lozo creates holograms and locks them to the physical world through cameras. It is like a sci-fi object you can walk around with and touch or move.

Privacy Laws and Security

There is a role of social acceptability that has not been determined yet and cannot be defined at this moment, as it relates to privacy laws and augmented reality. In the upcoming generation of devices, there will be more manufacturers to define privacy policies.

For instance, the iPhone is believed to be more secure than an Android. Similarly, there will be privacy and security laws and workable policies, and varying policies will come up based on the companies.

Augmented reality and virtual reality are new technologies with which people have been creating video games for decades. Augmented reality devices, in the future will need to be developed in an ethical way that does not violate people’s privacy.

Conclusion

Augmented reality merges digital components into people’s perception of reality. It also raises the question of ethics since augmented reality works from confidential information.

Working on how a policy that is socially acceptable is essential. Any inventions or technology should be applied to an object ethically that does not infringe on people’s privacy.

Over time, we might see more devices that enhance how we interact with reality bringing astronomy level curiosity to the masses.

Check out the full interview by clicking below.

Business Innovation Brief
Blog Subscrition Here
Loading

Why We Must Learn to Lead with Love

Why We Must Learn to Lead with Love

Why We Must Learn to Lead with Love

Business Innovation Brief Best Article

Love is a verb. It’s an action. A conscious choice. Love is a practice, just as personal care, and meditations, or eating, and learning.

As a leader when you practice love for others, you reflect a commitment to practicing love. This commitment starts with the relationship you have with yourself.

That relationship can greatly be enhanced as you learn about other great leaders, and examples of love.

As you learn more from those great examples, you realized that loving others requires being able to love yourself first, and that the more you love others, the more you are practicing loving yourself.

“Love is circular. As you practice it with others, it returns to you, and as you practice it with yourself, you can extend it to others.”

An authentic leader’s ultimate aspiration is to love deeply those who choose to work with them, to collaborate with them, and to co-create with them.

Love is a unifying force that helps you overcome all kinds of obstacles. 

Many companies are facing economic challenges right now, and how they deal with everything can be an expression of love, or fear.

“Fear and love cannot co-exist. We are either expressing one or the other in all that we do.”

Leaders who practice love, are easy to emulate and work with. One of my lifetime heroes is Jesus. He embodied all the principles of outstanding leadership.

His famous words found in the NIV Bible, “Love your neighbor as yourself”, are often the most misunderstood words of all time.

The focus often seems to be on loving thy neighbor, but after more careful study of Jesus’ life and teachings, you can’t help but conclude that the formula expressed in his famous quote must include loving yourself.

The key reason why Jesus embodied such love, was because of his relationship with God. The source of Jesus’ love that extended outward to everyone he met, came from the relationship he had with God, the source of all love.

Weather you believe in God or not, is irrelevant to this discussion, the fact remains that all of us need to have a source of love for ourselves, to be able to extend that love for others. God is the most powerful source of love for many.

To make the point, please ask yourself one simple question:

Can I give what I don’t have?

No, you can’t. You can’t love others if you first don’t love yourself. You can’t lead others with love if you first don’t lead yourself with love.

The follow up question to ask yourself is:

What is the source of my self-love?

Loving yourself is the key to the 8th principle of an authentic leader, in my upcoming book “Emotionally Aware Leadership”. 

When it comes to tapping into the most abundant source of love, you simply can’t do better than the Creator of the universe.

Yes, we make mistakes. Yes, we are often self-serving in life’s dealings. Yes, we are not always easy to talk to. Yes, we often say things that upset others. Yes, we are flawed in so many ways. Yet we are also capable of so much compassion, empathy, and love.

To embody love as a leader, we must open ourselves to grow through honest self-assessment.

No matter how brutal the self-honesty may be in revealing aspects of us, there is no excuse or good reason for not practicing self-love.

Sadly, there are a lot of people loathing and self-condemning themselves every day. This is the opposite of self-love, this is self-hate.

Stop. Breathe. Think. Accept that you are just an imperfect human and love yourself just as you are, but keep being committed to growing through your challenges, negativity, and traumas.

When you make this a practice, you’ll have more compassion, care, and love for those you lead, those you interact with, and those who also — much like you — are not perfect.

Only through the practice of self-love can you love others, and in the practice of love, we step into a leadership role that becomes a calling in life, and a source of fulfillment in our lives.

Leading with love is about people. Caring for people. Respecting people. Accepting people and being inclusive of all people. Doing all that we can to make people’s lives better, is leading with love.

The benefits of practicing leading with love are also evident in organizations that are highly engaged, have little to no churn, handle difficulties with a united front, and also enjoy outstanding success.

There is quantifiable ROI associated with leading with love. However, the greatest benefit is personal.

“Even with all the challenges that may come our way over the years, leading with love is truly the only way to experience a fulfilling life.”

Business Innovation Brief
Blog Subscrition Here
Loading

Pin It on Pinterest