Lauren Haworth is a business professional who actively invests and works with NFT projects – but her experience is that most NFT projects out there don’t have any real, tangible impact in the world (and many are scams or pyramid schemes). We sat down with Lauren to unpack some of her hands-on experience with NFT investing, and to figure out why and how businesses should incorporate NFTs into their day-to-day operations. Lauren also shares her experience with Green Tokens, some practical insights into an NFT project she’s currently involved in that’s bringing education to underprivileged children, and how she makes sure she invests in credible, profitable NFT projects.

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Resources mentioned in this episode: Investopedia

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Your secret weapon in the battle for better business

No matter the size of your organisation, achieving and maintaining a high level of operational efficiency is part of the success journey. Usually, striving for efficiency means that the organisation becomes more profitable.

The most successful organisations are always trying to improve the way they operate and finding new and innovative solutions that improve performance. They know the importance of making sure they stay ahead of the competition - at every step of the way.

Generally speaking, continuous process improvement (CPI) seeks to determine if an organisation’s business processes are meeting company goals. There are various tools that are used to achieve this fast - but getting the improvement part right is a little trickier. We’ll get into this in a minute, but first, let’s look at CPI’s application in software development.

CPI in software development - The Dark Horse

For developers, CPI is an ongoing effort to improve products, services or processes through continuous testing and optimisation. This means that attention is put on making sure a business’ products are up-to-date, bug-free and secure. This process is done on a continuous basis as part of a developer’s maintenance protocols.

Changes are implemented either incrementally or in one fell swoop (also known as breakthrough improvement). The advantage of making incremental changes is that improvements are made almost as soon as they have been discovered. 

Once these have been processed, the next step is to ensure that you constantly go back to reanalyse all processes throughout the lifecycle of the project and make additional changes. This is one of the pillars of an agile environment.

Getting it right

One of the most popular CPI models used is PDCA, which stands for Plan, Do, Check, and Act. By carefully going through these steps, the ongoing cycle of continuous improvement can be achieved as the model controls and regulates the processes. 

One can also start by using business process mapping to visualise all the business processes that require monitoring and assigning responsible individuals. Below is a breakdown of the PDCA model.

• Plan: The planning phase is the initial element in the model that sets out to identify objectives and challenges within the particular project. The problem identified would need to be solved in alignment with expected outcomes. A number of possible solutions are identified, with the most favourable solution touted first.
• Do: The selected solution or solutions are then implemented, initially starting off on a micro scale. Data is collected for analysis purposes to measure the progress of the implemented changes. The main purpose of the Do stage is to ensure that the proposed solution is fully tested before it can be rolled out fully to the entire system. 
• Check: The checking stage involves taking the data collected during the Do stage to compare if it matches expected outcomes. The purpose of this is to assess whether the solution was successful and if additional improvements are necessary. Any useful information that can be gathered is recorded and the Do and Check processes are repeated.
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• Act: This phase involves actual implementation after all the pros and cons of potential solutions are laid out, based on the information gathered in Do and Check stages. Any feedback received is also considered. If the solution is not as successful as initially expected, an alternative is then considered. 

Once a workable solution is implemented, it’s time to focus on the next identified urgent areas to improve and the same cycle repeats.

Why should you use CPI?

There are a host of benefits when it comes to using CPI for your brand. These ensure that the quality and integrity of the software is kept at a high level. Here are five key benefits:

• Quicker feedback: With continuous testing, the development team is able to receive feedback on any issues that require their attention within a short timeframe. By monitoring all stages, early feedback means fewer defects are found in deployed products.
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• Cost reduction: The cost of development can skyrocket unexpectedly if errors are not monitored and resolved timeously. As fewer defects are found within products, there will be a reduction in the back-and-forth between the client and their developers, leading to the costs of development being significantly reduced.
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• Improved quality: Using CPI is one way of ensuring that the quality of the product is improved. The quality assurance process via the back-and-forth of process improvement results in better products with fewer errors. Ultimately, user experience is more pleasant leading to greater customer satisfaction.
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• Faster deployment: One major benefit of CPI is that any updates or upgrades to products can be deployed quickly, while being able to respond to industry changes more efficiently. Automated testing helps to make sure testing is constant and meticulously done. 
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• Better compliance: With continuous testing comes increased employee engagement and collaboration. As the development team becomes aligned to the software improvement process and overall organisational goals, it creates a culture of success and improved morale leading to better compliance.

CPI is a critical element of any software developer team, creating high quality products that stand the test of time while optimising business processes and achieving its goals. Standardisation is thus necessary in terms of implementation best practices.

Each improvement process needs to be thorough to maximise output and returns on investment. At Digital Grind, it's a part of who we are, as CPI and maintenance are implemented in our development projects. 

We strive to ensure that your brand receives quality outputs that are adaptable and enhanced on an ongoing basis according to evolving needs. Start a development project with us. Our team is always ready to listen.

Digital transformation has become one of the most talked about topics in the last few years. But what does it really mean? What are the key areas where digital transformation is happening? How can you be sure that your business is ready for the changes ahead?

Unsurprisingly, the COVID-19 pandemic has forced many businesses to fast track their IT strategies which is evidenced by an increase in global spending. It was reported that IT spending is set to reach 4.1 trillion in 2021, up 8.4% in 2020.

It is something that every business needs to consider or you’ll get left behind and suffer the consequences. But should anyone really be spending so much on their IT? Let’s find out.

1. Why digital transformation is necessary

Digital transformation is the process of taking your traditional business and using digital technology to modernize it and make it more efficient. It’s a trend that’s happening in every industry, from media to healthcare. 

Many businesses no longer prefer the traditional business model and want to adopt technology that will help them sell more, move faster, and solve customer problems in an easier way. Some of them are using Big Data and AI to shape how they do their business and what tools they use.

Research found that 23% of surveyed companies had little to no dependence on digital technologies in some shape or form. The rest are either fully digital or use a hybrid approach. The numbers speak for themselves when it comes to digital transformation’s necessity. 

But how can businesses adapt and meet the expectations of their clients? Here’s what you need to think about. 

Digital technology entails many changes to how your business works. It will require a lot of resources, like manpower, software and hardware, as well as the different infrastructure needed to operate these tools. 

As many businesses use multiple IT systems, it will be crucial for them to have the right infrastructure to meet the changes and make the digital transformation work efficiently.

2. Data and analytics is everything

Companies that are facing digital transformation should aim to make data-driven decisions that improve their business performance. When it comes to data analytics, it can play a major role in taking your business to the next level.

As an example, Netflix digitizes its audiovisual data in order to make it accessible all over the world. In addition, it’s using Big Data to analyze everything that its subscribers watch, using those insights to inform its business strategy.

The same can be said about creating value in every part of your company. Analytics can help you identify how to improve customer service, better adapt your marketing campaigns, and create better customer experiences. 

The analytics side of business includes data from A/B testing, customer insights, and social listening. It’s evident that data is at the core of influencing business decisions today. 

In order to make data-driven decisions, it’s worth studying your customers’ behaviors across different channels. Track down where they are seeing the most friction or unhappiness around your digital marketing efforts and put processes in place to address it.

3. How businesses can prepare for digital transformation

One study found that almost 90% of respondents were expecting a digital disruption of some sort. However, less than half could actually say they were ready for this change.

Whether you like it or not, digital transformation is going to impact your business somehow. So how can you prepare for this? 

It’s appropriate to start thinking about transformation with collaborative brands, such as Spotify. Here’s why. Sure, Spotify is a music streaming platform, but it also helps you create podcasts, listen to music, watch videos and play games.

Brands, such as Netflix, pride themselves in what they stand for. The company has pulled off a successful digital transformation through collaborative marketing and digital tools.

Collaborative marketing is good business because everyone wins. The biggest win though is that Netflix gained insight into where its users were spending their money and why, so it created its own place.

That insight is priceless, and this is why cultural brands are being actively guarded and developed. Perhaps you remember the first cultural brand you started to work for or one that you realized you could use your creativity to promote? In each and every case, you are helping others realize their career goals. 

Companies know that collaborating with other cultural brands is a good investment. From that point on, the collaborations get bigger and better. 

4. How you can embrace technology to succeed in a transformed market

It’s important to embrace technology so that you can continue to succeed in your business. If you own a real estate brokerage, for example, you’ll need to use the Internet to market your business, to communicate with your clients, stay competitive, and to find new listings. 

The Zillow Group bookmarked certain areas of the Internet where they’re creating new opportunities for the real estate industry. Besides, such sites’ popularity continues to grow, and they can help up-and-coming real estate businesses jump start their digital strategies sooner than is normally possible.

Finding actionable opportunities

The new technology trends worth your attention include smarter searches, intelligent personal assistants, user-aided home automation, and new forms of cloud-based interactivity. Want to be a part of this movement? Then start doing on-page SEO to make sure that people are finding your business when they need it. 

Big-box stores, for example, have started increasing the use of self-checkouts, zero-contact security, screenless entrances, and high-speed internet to serve patrons through the COVID-19 outbreak. In sum, the grocery industry has added high-tech ways to serve its customers in times of high demand.

Since such trends are expected to continue, many real estate transactions might take place online if market participants play their cards right. 

Intelligent personal assistants can do much more than help computers with repetitive tasks. They can take the user’s orders and turn them into reality. 

For example, smart refrigerators can be programmed to return milk late in the day so it doesn’t go to waste. Digital transformations are happening at a rapid pace, and you need to be sure that your business is ready to take advantage of the changes ahead.

Today, we live in a digital world where the Internet and social media have changed the way we live and work. Digital transformations are happening at a rapid pace, and you need to be sure that your business is ready to take advantage of the changes ahead. 

Following these steps will help you see the benefits of these digital transformations. And the most important responsibility is to be ready to make these changes for your business. 

Other things to consider

Digital transformation cannot be achieved in a vacuum. It also requires the constant changing of business models and having a strong team in place to help you run the entirety of the race. Here are a few things to consider for if and when you decide to embark on your digital transformation journey.

• Diversify. Diversification helps you preserve capital, protect your company from swings in the market, and minimize your risk. Diversity gives you an opportunity to find new routes to grow your business and protect your investment. Leave old routes for dead!

Be prepared. In times of crisis, consumers rush to buy the products and services that retain their loyalty and high price. Make sure that what you sell is of high quality, has a perfect fit for your consumer, and solves a problem.

• Incorporate technology. Technology is everywhere. Digital transformation is bringing the latest apps, platforms, technology, and systems into your business, making it easy for your workforce to work and making your business successful. If you have a modern and comfortable work environment where everyone can access information and communication technologies easily, you are ready for digital transformation.
• Network and engage your team. The LinkedIn and Facebook groups are top-of-mind when companies plan for new opportunities and reach out to professionals that they are interested in. Facebook groups are super-easy to create, join, and manage.

Digital transformation is an inevitable part of any business or organisation’s operational strategy in the 21st century. It’s been established that this is a necessary endeavour that requires preparation and embracing of technology as you focus on the four aspects.

Digital Grind knows all about your digital transformation journey and is well endowed with the necessary expertise that can take you through this journey. Speak to us to learn about some of the digital solutions your organisation can put in your arsenal.