Accenture Report Explains Rise of the 'We Economy'

By Casey Houser February 09, 2015

Accenture, a global management consultant company, has released its Accenture Technology Vision 2015 report, which provides businesses with an analysis of global technology trends and their possible uses for the coming year. What may take shape this year, above all other elements, is the so-called “We Economy” -- a complete reversal in the way businesses have always looked at digital technology.

What is different about the We Economy is that businesses are looking beyond their horizons. They will partner with other digital businesses, customers, and devices in order to create ecosystems that support technologies which function at their industry boundaries. Accenture reportedly solidified the existence of this new economy within a survey it conducted of more than 2,000 business executives. These executives said they believed the traditional boundaries of businesses of all types would blur as they reached into the pockets of other industries to use tools that had previously been foreign.

Paul Daugherty, the chief technology officer at Accenture, commented in this most recent announcement about the structure of businesses. He said “digital has become part of the fabric of [businesses'] operating DNA.

“They are stretching their boundaries to leverage a broader ecosystem of digital businesses as they shape the next generation of their products, services, and business models to effect change on a much broader scale.”

The information presented here, which surrounds the creation of a We Economy, has been vague. To make things a bit clearer, consider the operation of Home Depot, the chain of home improvement stores. Accenture notes that Home Depot supports the Wink home connected system. It is not enough, though, to simply sell the Wink product; Home Depot is going further to ensure that the other products it sells will function well with Wink, and through that action it is creating its own internal economy that surrounds home connections.

TMC wrote earlier this year about the possibility that the connected home market would continue significant growth through 2018. This is but one market among seemingly countless others, and major businesses such as Home Depot may soon want to get their hands on the devices that players in these growing markets already produce. Healthcare, real estate, construction, manufacturing, and all other sorts of entities may find ways in the coming year and beyond to take advantage of digital products in ways they never have before. With various products making connections at the edge of their traditional networks, expanding businesses willing to reach out may find their own operations streamlined and their sales boosted as a result of making new friends with new tech.

 

Contributing Writer

SHARE THIS ARTICLE
Related Articles

Bloomberg BETA: Models Are Key to Machine Intelligence

By: Paula Bernier    4/19/2018

James Cham, partner at seed fund Bloomberg BETA, was at Cisco Collaboration Summit today talking about the importance of models to the future of machi…

Read More

Get Smart About Influencer Attribution in a Blockchain World

By: Maurice Nagle    4/16/2018

The retail value chain is in for a blockchain-enabled overhaul, with smarter relationships, delivering enhanced transparency across an environment of …

Read More

Facebook Flip-Flopping on GDPR

By: Maurice Nagle    4/12/2018

With GDPR on the horizon, Zuckerberg in Congress testifying and Facebook users questioning loyalty, change is coming. What that change will look like,…

Read More

The Next Phase of Flash Storage and the Mid-Sized Business

By: Joanna Fanuko    4/11/2018

Organizations amass profuse amounts of data these days, ranging from website traffic metrics to online customer surveys. Collectively, AI, IoT and eve…

Read More

Satellite Imaging - Petabytes of Developer, Business Opportunities

By: Doug Mohney    4/11/2018

Hollywood has programmed society into believing satellite imaging as a magic, all-seeing tool, but the real trick is in analysis. Numerous firms are f…

Read More