# Getting Smart at Being Smarter
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2019-02-08
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: Unlocking Growth with SMART Data Models and AI Strategies
Meta Description: Discover how AI and SMART objectives are reshaping business strategies with insights from Paul Hardy, Chief Innovation Officer at ServiceNow. Learn more here.
Tags: featured
Tag URLs: featured (https://financedigest.com/tag/featured)
URL: https://financedigest.com/getting-smart-smarterhtml

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_By_ **_Paul Hardy,_** _Chief Innovation Officer, ServiceNow_

Global access to data is exploding. At the same time, our ability to categorise, classify and analyse this data is also expanding.As this new world of data unfolds, businesses are looking to create new data models―and their supporting data analytics functions—to directly and [positively impact growth](https://www.financedigest.com/broadcast-switchers-market-increasing-adoption-of-ip-live-production-technology-to-positively-impact-growth.html "Broadcast Switchers Market: Increasing Adoption of IP Live Production Technology to Positively Impact Growth"), profit and expansion.

But let’s go back to first principles for a moment. We know that [Artificial Intelligence](https://www.financedigest.com/types-of-artificial-intelligence.html "Artificial Intelligence") (AI) and Machine Learning (ML)―when correctly applied—can improve the way organisations work and operate. But do organisations know where to start as they look to create these new data models?

We―and by ‘we’ I mean you as the customers, us at ServiceNow, as well as our partners, everybody basically—need to ask where to categorise and compartmentalise [processes and functions to build new digital](https://www.financedigest.com/automating-business-processes-is-essential-to-digital-transformation.html "Automating business processes is essential to digital transformation") workflows. We [need to examine which aspects of the business](https://www.financedigest.com/pstn-isdn-switch-off-what-businesses-need-to-know.html "PSTN/ISDN switch-off: what businesses need to know ") should be most directly ‘exposed’ to AI. We also need to know what is and isn’t possible in the short, [medium and long term](https://www.financedigest.com/ab-inbev-aims-for-core-profit-growth-of-4-to-8-over-medium-term.html "AB InBev aims for core profit growth of 4% to 8% over medium term").

In other words, we [need to get smart about being smarter if we’re going to bring a new era of business](https://www.financedigest.com/uk-needs-to-make-politically-unpopular-reforms-to-boost-growth-business-group-says.html "UK needs to make politically unpopular reforms to boost growth, business group says") forward. So, what does smart really mean in [modern business](https://www.financedigest.com/the-modern-cfo-at-the-forefront-of-business-transformation.html "The Modern CFO: At the forefront of business transformation") terms? I think it is time to look at AI and [digital workflows through the lens of SMART](https://www.financedigest.com/smart-becomes-the-first-ssp-to-collaborate-with-white-bullet-to-safeguard-quality-in-the-digital-media-landscape.html "Smart becomes the first SSP to collaborate with White Bullet to safeguard quality in the digital media landscape") (Specific, Measurable, Attainable, Relevant, Time-bound) objectives.

**Specificity**

![Paul Hardy, Chief Innovation Officer, EMEA, ServiceNow](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/paul-450x674-1736839167989-compressed.jpg)

Paul Hardy, Chief Innovation Officer, EMEA, ServiceNow

When we use the word ‘specific’ and [demand a greater level of product or service](https://www.financedigest.com/euro-zone-april-business-activity-grows-on-strong-services-demand-pmi.html "Euro zone April business activity grows on strong services demand – PMI") specificity, we mean it in the most granular sense possible.

We can’t just [say we need](https://www.financedigest.com/ftx-collapse-shows-urgent-need-to-finalise-eu-crypto-rules-says-european-commission.html "FTX collapse shows urgent need to finalise EU crypto rules, says European Commission") more paperclips, more salespeople, more office air conditioning or more field sales automobiles. We need to ask what _kind_ of paperclip shape we need, what colour, what build strength and perhaps even what level of ‘clippyness’ every clip needs to exhibit.

When you are [thinking about delivering AI and ML in the business you have to be really focused](https://www.financedigest.com/maximising-the-opportunities-available-from-marketing-technology-and-innovation-focused-thinking.html "Maximising the opportunities available from marketing technology and innovation focused thinking") on what you are trying to achieve―and by that I mean, you need to be able to tie down specific use cases for each and every paperclip.

**Measurability**

Getting smart with new [digital workflows also requires](https://www.financedigest.com/how-to-fulfil-the-digital-transformation-requirement-in-banking.html "How to fulfil the Digital Transformation Requirement in Banking") measurability. If you can’t measure it and put it in your business [plan and balance sheet](https://www.financedigest.com/ecbs-villeroy-lays-out-plan-for-shrinking-balance-sheet.html "ECB’s Villeroy lays out plan for shrinking balance sheet") (a process, a service, a workflow element, anything at all) then you need to step back and ask whether you should really be doing it.

The [reality is that data](https://www.financedigest.com/understanding-the-realities-of-payment-data-monetisation.html "Understanding the realities of payment data monetisation") is often captured and not ever used. It simply falls unmeasured, and unloved, into the data lake. The real [cost of this is the ‘noise’ that is created throughout the business](https://www.financedigest.com/esg-prepared-why-ignoring-esg-is-a-costly-business.html "ESG Prepared: Why Ignoring ESG is a Costly Business") because for one, wasted data goes crashing into the lake and secondly, there is then the splashing that occurs afterwards when users do actually realise that they have to start diving into the lake to look for the data that they might actually need in order to make work experiences better!

**Attainability and relevancy**

If an AI initiative is not attainable or achievable, then why has it formed a part of your current [business strategy](https://www.financedigest.com/fortified-dairy-products-market-outlook-cover-new-business-strategy-with-upcoming-opportunity-2022-to-2032.html "Fortified Dairy Products Market Outlook Cover New Business Strategy with Upcoming Opportunity 2022 to 2032") in the first place? Nowadays we can forecast how far AI will realistically be able to change any given [business in real](https://www.financedigest.com/the-real-potential-of-web-3-0-and-blockchain-for-business.html "The Real Potential of Web 3.0 and Blockchain for Business") practical terms.

Similarly, if an AI [business initiative is not relevant to the business and not able to exist within the context of the organisation’s current and immediate goals, then it forms no sensible part of any smart business plan](https://www.financedigest.com/hyperspectral-imaging-system-market-know-latest-trends-forecast-for-long-term-business-planning-up-to-2026.html "Hyperspectral Imaging System Market – Know Latest Trends & Forecast for Long-term Business Planning up to 2026").

**Timeliness**

Lastly, we come to timeliness. In the not so distant past, business cycles and the general approach to commercial objectives were typically annual. In this post-millennial age, [firms are measuring themselves in much smaller strategic](https://www.financedigest.com/toshiba-in-talks-with-four-investment-firms-for-strategic-ideas-sources.html "Toshiba in talks with four investment firms for strategic ideas -sources") increments.

[Key Performance Indicators](https://www.financedigest.com/agricultural-films-and-bonding-market-2022-key-players-swot-analysis-key-indicators-and-forecast-to-2025.html "Agricultural Films And Bonding Market 2022 Key Players, SWOT Analysis, Key Indicators and Forecast to 2025") (KPIs) and business targets used to change year-on-year. Today, they might be calibrated to change monthly, weekly or perhaps even on the basis of individual (tickets) activities relating to individual jobs.

**Your** [next steps](https://www.financedigest.com/eu-leaders-to-discuss-next-steps-on-energy-ukraine.html "EU leaders to discuss next steps on energy, Ukraine")

The goal for any business should be to get to the point where they can use smart digital workflows to drive greater productivity, greater [quality of all services](https://www.financedigest.com/is-ai-taking-quality-and-cost-optimization-of-enterprise-services-to-the-next-level.html "Is AI taking quality and cost optimization of enterprise services to the next level?") and greater experiences for all employees.

We know that an increasing proportion of organisations are already examining where they can bring AI to bear and [create new value](https://www.financedigest.com/how-to-create-value-in-digital-transformations.html "How to create value in digital transformations") in their business. We also know that many are already on that road and [creating new applications and new experiences](https://www.financedigest.com/customer-experience-creating-the-calm-in-the-chaos.html "Customer Experience: creating the calm in the chaos"). Factors that matter most now include service quality, cost reduction, speedy [delivery and the need for geographical availability for all new products and services](https://www.financedigest.com/online-food-delivery-services-market-will-reach-a-valuation-of-over-us-4212-6-mn-towards-2029-end-fmi.html "Online Food Delivery Services Market will Reach a Valuation of over US$ 4,212.6 Mn towards 2029-end: FMI"). These are all the defining [trends that should be shaping the way we develop](https://www.financedigest.com/automotive-mems-sensor-market-key-manufacturers-development-trends-and-competitive-analysis-2028.html "Automotive MEMS Sensor Market Key Manufacturers, Development Trends and Competitive Analysis 2028") new digital workflows that leverage AI and ML.

As vendors, we need to help businesses [identify areas](https://www.financedigest.com/identifying-areas-of-vulnerability-why-cybersecurity-shouldnt-be-an-afterthought-for-financial-organisations.html "Identifying areas of vulnerability: Why cybersecurity shouldn’t be an afterthought for financial organisations") for improvement, not just before they start to lose profits and market share, but more significantly, before they start to actually lose contracts. There’s a new culture for predictive business strategy that we are underpinning and making possible.

Smart is smarter if it is more [productive and creates](https://www.financedigest.com/creating-a-positive-and-productive-culture-within-the-workplace.html "Creating a Positive and Productive Culture Within the Workplace") greater experiences for everybody inside and outside your organisation. It’s where the smart money is, believe me.


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