By Corey Moss
As I often will do, I start the morning researching. Sometimes it will be something that has been sent via e-mail, a whitepaper or maybe an article on LinkedIn that spurs on a story, or even a podcast theme. At times I’ll go to The Street (Jim Cramer’s online publication for investors) where I’ll find a good breaking tech story. It’s also an excellent source for staying abreast of everything cryptocurrency.
Recently, I scanned the publication for a good story and stopped at a Cramer quote (in the sidebar) ‘It’s about the companies that employ tech to trounce the competition.’ The link went to the Real Money section, and a Jim Cramer article Jim Cramer: Here’s What it Takes to Get a Stock Moving. He begins:
What moves a stock these days? What’s a surefire way to get it going? I’ll tell you what does it. Tell the world that you are investing in technology to make things more efficient, to make them better.
Technology’s the key behind today’s rally and look no further than Home Depot (HD) , a big Dow Jones stock, which helped propel that venerable average with an announcement that it is looking to hire 1,000 technology professionals as part of its 11-billion- dollar strategic investment plan.
Now that in itself is a story with a huge bang as Home Depot, the well-known retail hardware giant is going all in – on tech.
Cramer goes on to detail how Home Depot continues to move past the competition, Lowe’s especially, with what’s detailed as a home grown technology effort (run by its chief investment officer Matt Carey) that joins engineers with product managers and those on the floor who know the customer experience.
There it is – customer experience to go with integrated technologies and the addition of tech professionals.
According to the article, Marc Benioff, CEO of Salesforce.com states: “Matt Carey is a legend in Information Technology. He has personally transformed Home Depot in many of the most significant digital transformation and customer innovations in the retail industry. ”
You just can’t deny how innovation and technology integration begets transformation, and the experience just follows along. Technology integrated strategically, with professionals in the right places.
Now that’s not to say that any business can go out and hire a ton of tech professionals, however on scale it makes a lot of sense to hire the most qualified tech professionals to drive such transformation within the company, even if just adding two or three people.
I for one preach digital transformation, specified as technology innovation, integration – and transformation, even though I was once challenged in terms of digital transformation being buzz. It’s very easy these days to claim any trend or application discussion to be buzz – I mentioned it in a recent social media exchange in terms of a claim that two company UC applications merged together became the “new convergence.” However where technology is concerned, transformation – like societal change – is always imminent.
This brings me back to Home Depot and how they are taking on the market, beating the competition as outlined here, and I’ll even repeat Cramer’s quote:
Tell the world that you are investing in technology to make things more efficient, to make them better.
So now you can add efficiency to the transformation and innovation discussion – pretty powerful statement as efficiency is something every company strives for (or of course should). Look at what we discuss in terms of enhanced communication, collaboration and workflow – certainly keys to a company’s overall success. I have used various technology applications and platforms, which have continued to enhance my strategies.
I worked in audiovisual integration where providing the end user with the best possible outcome in terms of technology for the now, and future upgrade was imperative. Add to this, nowadays, the discussion of big data analytics and one has provided the true keys to uncovering certain patterns and correlations which were not yet evident, trends in that particular market, customer preferences along with other potential information that can help to make more-informed business decisions.
In the AV market the data discussion has grown louder and stronger over the last few years, where now I’d have to figure that it should also be a part of most integration companies’ language to give the customer, as well as themselves a leg up. Sure Home Depot is a giant conglomerate, but what’s to say that any company – Fortune 100 or SMB – can’t take on the competition and soundly beat them, through technology transformation and continuous upgrade, enhanced communication and collaboration, and adding the right technology people in the right places. Talk hardware, talk software, cloud, mobility and more (and I do all the time). It makes all the sense in the world in 2018 — and beyond.
I’ll end with another great statement from the article by Cramer:
Why does Home Depot spend so much on tech? Why does he (Matt Carey) have Battles of the Brains to recruit the best coders in the business, and I am talking about not just the retail business? Why do they recruit hundreds of tech people right out of school, or train their tech inclined employees in a 12-week boot camp? Go listen to their latest “Give Me an H” podcast and you will know. Because if you think running a retail operation is about having a brick and mortar presence a cashier and a salesperson, you will be eaten alive by the Death Star otherwise known as Amazon.
Enough said. Invest, integrate – and transform.
(Note: The Street has been one of my main resources for breaking news stories as well as for technology writing – I highly recommend reading this publication if you don’t already).
Header image: 123rf royalty free
With over 20 years in audio visual integration and IT/computer sales and consulting, Corey Moss is the owner of Convergent AV. Corey writes for the publication and hosts/produces podcasts – The AV Life, The Collaboration Factor and Convergent Tech Talk. He has written for numerous industry publications about AV, IT, unified communications and collaboration (UCC), cloud and software, IoT, cybersecurity and more. He has also conducted interviews with AV and IT executives and global influencers. Find him talking about a whole lot of things, tech and otherwise. On LinkedIn https://www.linkedin.com/in/mosscorey/.