HSO Innovation Day | A revolution is underway

It’s a fact that the pace of changing is increasing. In the 1920s the average age of a company was 75 years. Fast forward to 2016 and this has dropped to just 15 years. It is further predicted that by the mid-2020s, 75% of the companies listed will be ones that don’t even exist today.

We are also being told that 50% of senior executives believe that their existing, perhaps long established business practices won’t exist within the next 5 years.

Clearly there is a revolution underway!

HSO’s experience as a supplier of technology gives us a wide perspective on the pace of change, and the emerging technology that is driving this. It is our firm belief that Innovation is one of the ways that businesses can address this uncertain and disruptive future, but also that the change applies just as much to our business as it does to yours.

Action is therefore required! ‘Doing nothing is not an option’, was the message delivered at our Innovation Day, hosted at Microsoft’s Thames Valley Park headquarters in Reading.

With this in mind, a group of 30 attendees from diverse retail, manufacturing and service businesses were treated to a thought provoking afternoon, examining examples of what could be done, backed up by real life case studies. Facial and gender recognition delivered by video capture; forecasting to drive the use of fertiliser, affected by seasonal factors and the weather forecast; the usage of power generators and sensors; and statistics gathered from the use of retail fitting rooms were discussed.

 

It was certainly a lively day!

The closing message to the audience was to think of Innovation as a continual process, in many ways a service that is subscribed to, much like the ERP system. Without continuous feedback loops, a proactive approach, and an environment where Innovation is used to transform the way we do business, the pace of change will simply be too much to bear.


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