7 Steps to Platform Transformation – Part I

The culture of innovation is filled with idea generation and its sidekick, fail-fast fail cheap innovation, but Accenture reports that 81% of executives see platforms as central to their strategy over the next three years. Platforms represent new process models that provide flexibility, and strategic options like Uber's switch to deliveries or autonomous vehicles. Instead of suppressing optionality, platforms explore and harness it. 7 Steps to Platform Transformation Part I describes the first step towards platform disruption analysis. Companies need to identify areas of disruption such as adjacency platforms and convergence where a company can become a horizontal innovator across industry barriers. They should build hypotheses under changing economic conditions, and test the market to find the best product or service based on global, free distribution and self-funding, capital-free concepts. As the world becomes more globalized, enterprises must figure out genuinely global and often mobile services to take advantage of global connectivity. Disruptive models that leave the control of user data in the hands of individuals are becoming increasingly popular, with users using their data explicitly as currency. The reverse data model proposes that banks or third parties manage data on behalf of consumers to seek ways to aggregate purchasing intent and force down prices.