Real-Time Revolution

Transforming Your Organization to Value Customer Time

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The Real-Time Revolution – Transforming Your Organization to Value Customer Time

by

Jerry Power and Tom Ferratt 

Coming September 2019 from Berrett-Koehler Publishing 

 

You Can pre-order the book now!
From: Amazon
From: Barnes and Noble
From: IndieBound
From: Penguin Random House
From: Berrett-Koehler

 

Time is becoming the dominant customer currency.  Customers want to spend their scarce time well.  For example, when ordering a product, the ideal ordering process would take virtually no time and would be completed effectively.  The order would be accurate and complete.  Real time is the actual time that placing an order (or any event) takes; however, “real time” has popularly come to mean instantaneous.  Instantaneous may not always be possible, but it is an ideal to strive to achieve.  So, ideal customer experiences are events that are completed instantaneously and effectively. 

Organizations striving to provide ideal customer experiences are real-time organizations.  They are the core of the Real-Time Revolution.  These organizations are demonstrating that they value customer time.  Organizations that come closer to the ideal than their competitors are valuing customer time more effectively.  They are becoming more real-time than their competitors.  Companies that do not strive to provide customers with ideal customer experiences have not joined the Real-Time Revolution and are in real-time denial.  Their survival is threatened by organizations that join the Real-Time Revolution.

To survive and thrive, leaders must transform their organizations to value customer time more effectively than competitors do.  Supporting real-time transformation are three related guidelines:

  1. The real-time organization must be agile enough to detect and respond to changing customer expectations regarding time better than competitors do. 
  2. The real-time organization must engage customers throughout the life of its products and services such that customers view the organization as valuing their time and, thus, meeting their needs more than competitors do.    
  3. The real-time organization will be transformed to value customer time through these core organizational levers:  products and services, processes, data, and people.

The value of time is directly attributable to customer satisfaction and thereof any company's ultimate success. In an industry where quality-of-experience and quality-of-service are metrics for key progress indicators, Power and Ferratt highlight the criticality of transforming to a real-time company to meet and anticipate the needs of the customer. As we anticipate the fourth industrial revolution and the fusion of technologies, the books focus on real-time is opportune and an invaluable doctrine of the importance of time as a key market differentiator.”

Ralf Jacob,
President,
Verizon Digital Media Services


One of the time-tested aphorisms in the business world speaks to the "time value of money." In Jerry Power and Tom Ferratt’s The Real-Time Revolution, the focus is more on "the money value of time.” In today’s hyper-accelerating world, engagement, agility, and transformation become the key forces for change, while products and services, business processes, data, and people are the currency upon which those forces are unleashed. Time may be money, but speed is profit: Digital Transformation is here, and the sooner companies embrace its inexorable impact, the sooner they will reap the benefits, as laid out in The Real-Time Revolution

Dr. Steven Shepard,
Principal,
Shepard Communications Group


Technology advancements are pushing the envelope of time management. As our digital world continues to rapidly advance, this book is essential for anyone in the technology space, or those that use it!

Steve Garske,
Senior Vice President and Chief Information Officer,
Children’s Hospital Los Angeles


What is the most valuable thing that you could give to a friend, a colleague, or a customer?  For many, the answer to that question is TIME.  Is the gift of time possible?  Can the gift of time be a bond for friendships and colleagues?  Could competitive advantage be gained through the gift of time to customers?  If you are seeking a path to competitive advantage that does not require economic compromise, you must read this book.  Your investment of the few hours of your time you will spend with this book could yield tremendous value to you and your organization as you gain competitive advantage by offering time to your customers.

Randall B. Dunham,
Emeritus Professor of Management and International Business, and Faculty Director, Executive Global Learning Experiences,
University of Wisconsin-Madison


Time is of the essence is a saying that has held true for many years. The Real Time Revolution highlights the urgent need to value our customer's time.  Highly relevant and action oriented it is a must read for all leaders striving to stay competitive in today's market place.

Lynn Mangan,
President,
Clubessential


As firms look to digitally transform their experience, Power and Ferratt provide a fascinating new lens to think about transformation - the role of time. I am sure their book will be highly influential.

Munir Mandviwalla,
Executive Director of the Institute for Business and Information Technology,
Temple University


If you are a business owner, or a leader who has been baffled with how to differentiate in today’s digital world, this may be the book that unpacks the mystery. The one thing that we are learning in the digital revolution is that customers are looking for faster and easier. “Real-Time Revolution: Transforming Your Organization to Value Customer Time” is about process, but more importantly about culture. It bridges the dilemma that many organizations face related to responsiveness and personalization with speed. Yes, we need to be fast, but we also need to recognize the individual needs and preferences of those customers. “Real-Time Revolution brings a grounded but practical approach to valuing your customers’ most important resource…time, recognizing that responsiveness, and “real-time” expectations continue to evolve. This book will challenge your thinking and provide you a playbook for moving your organization toward a more Real-Time solution for your customer and potential customers, and differentiating yourself in your market. 

Mary Marcus, PhD,
Founder and Chief Innovator,
OrganizationDynamic Inc.


If you are a business leader seeking to keep up with the transformational power of technology to cope with the increasing demands of the environment and build an enterprise that can cope with rapid change, I urge you to read this book.  This book will show you how to engage your customers and empower your employees so that you can join and lead the real-time revolution.  A must read!

Andrew H. Schwarz,
Professor, Stephenson Department of Entrepreneurship & Information Systems,
Louisiana State University


In an age where time has become the currency of our lives, Power and Ferratt explore time as a customer-centric value for businesses. They persuasively argue – with real-world, real-time case studies across industries - that, in our increasingly fast-paced lives, valuing customers’ time becomes the key battleground and marketplace differentiator.  In addition, they provide a new framework for real-time organisations – those that value time from the perspective of the customer – which will deliver a better customer experience, higher customer satisfaction, and ultimately greater success.

Heidi Taylor,
Managing Director,
Heidi Taylor Marketing


Tom Ferratt and Jerry Power have come up with a perspective on time and how it is viewed by customers that can raise useful questions relative to one's own products and services.  Their perspective emphasizes both the value of shortening duration as well as adding valued engagement while structuring interactions between organization and customer.  I found it stimulating to apply these concepts to the enterprises where I am a participant.

Fred Niederman,
Shaughnessy Endowed Professor,
St. Louis University


The Real-Time Revolution is both progressive and practical.  Innovation is no longer enough.  In a digital age with countless choices, organizations must compete for consumer time and align their operations to do so.  This book is a playbook for Digital 2.0.

Ted Ross,
Chief Information Officer,
City of Los Angeles


In this book Power and Ferratt have transformed the currency of companies from economics to time.  By relentlessly focusing on the importance of time, the authors provide an elegant prose, with copious illustrations that can help companies rethink their provision of customer experiences.  This eminently readable book offers a useful framework in the form of a set of levers that can help leaders make the transformation happen!

Varun Grover,
Distinguished Professor and David D. Glass Endowed Chair in Information Systems,
University of Arkansas 


This book explains very well a paradigm shift that is going on and processes needed to transform new age customer experience for real time methodologies to implement across boundaries within and outside of an organization. The RTMR process defined provides a good tool that could provide benefits using technologies like IoT. I would highly recommend this book.

Vivek Chhabra,
21iQLabs Founder,
former Vice President and GM, Mobile and Cellular IoT Business at Marvell


In an era in which real-time response capabilities are increasingly essential for organizations‘ digital transformation, this book is required reading for leaders who want to understand the levers that help organizations fully embrace the value of customer time.

Alexander Benlian,
Professor and Dean,
Darmstadt University of Technology, Germany


In this very original and important work Jerry Power and Tom Ferratt explain the profound significance of firms now being able to leverage ongoing real-time relationships with customers and thereby improve the quality of customer time. This is not just a matter of being fast or better coding. In a nuanced and practical fashion—armed with diverse illustrations—the book identifies a diverse set of competencies required for capturing real-time advantage, including speedy decision making, sophisticated analytics, re-engineered processes, innovative technology, agile strategy, adaptive organization, switched-on cultures, and talented people.

Mel Horwitch,
Former Professor and Dean Central European University Business School,
Central European University


Great read! Valuable insights and advice on how organizations can be designed and managed in order to be effective in today’s rapidly changing highly competitive world.

Edward E. Lawler III,
Director of the Center for Effective Organizations and Distinguished Professor,
University of Southern California


 

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Jerry Power Bio

Jerry Power is the Executive Director of The Institute for Communication Technology Management (CTM) at University of Southern California’s Marshall School of Business.  CTM is actively engaged in identifying, understanding, and leveraging emerging trends driven by the rapid evolution of digital communications technologies and services. Through CTMs research and educational programs, the Institute explores the new opportunities and challenges in the age of digital transformations. CTM embraces our increasingly dynamic market and harnesses the thought leadership of the University and the CTM community to find new ways to thrive in this evolving business climate.  

Jerry is also a founding member of the I3 Consortium.  I3 is working to create an open source Internet-of-Things data governance tool that allows communities of independent IOT device owners to work together as active members of the expanding data ecosystem.  The consortium recognizes the importance and the personalized nature of privacy, trust, and incentives as key enablers of a sustainable, managed, and networked IOT infrastructure that supports collaborative IOT environments where data must transcend organization boundaries.   

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Tom Ferratt Bio

Tom Ferratt is professor emeritus at the University of Dayton. He is a nationally recognized academic, researcher, and consultant. The Advanced Practices Council (APC) of the Society for Information Management (SIM), a professional network for information technology (IT) leadership, sponsored his work with Ritu Agarwal on developing and retaining a world-class IT staff.   That work led to their book, Coping with Labor Scarcity in Information Technology: Strategies and Practices for Effective Recruitment and Retention.  Other work with Chief Information Officers (CIOs) includes developing a community health information network with hospitals in the Greater Dayton Area Hospital Association to share patient information across emergency rooms.  Tom’s research has been published and featured in leading publications, including MIS Quarterly, Information Systems Research, Academy of Management Journal, Communications of the ACM, and Computerworld.  He has been on the editorial boards of internationally recognized IT journals.  He holds a PhD from Ohio State University.