In episode 36 of the Data Modernization Minute, Wayne discusses the importance of a digital native mindset through an example of a data widget company.
Highlights
00:20 — After listening to Bob Evans and Chris Lochhead discuss how native analogs can thrive in a digital world, Wayne was inspired to share a story.
00:52 — During the pandemic, Wayne made a sales pitch for a company that was looking for help in creating a new technology base for data widgets. The company has created a data widget that recorded data for a heavily regulated industry with many environmental impacts. The company wanted Wayne’s help developing an enterprise resource planning (ERP) system to build a stronger widget factor.
01:55 — After listening to the company explain the premise of its widget factory, Wayne asked them if they had ever considered monetizing the data that comes out of the ERP system. He suggested that the company doesn’t need to be in the widget business, but rather, in the data business.
03:50 — Wayne saw a company that could pivot industries but did not since they were native analogs. He was trying to get the company to shift towards a more digital native mindset, something that is closely related to data modernization.
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