Best Practices Award Template - Frost & Sullivan

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The Intersection between 360-Degree Research and Best. Practices Awards. Research Methodology. Frost & Sullivan's 36
BEST PRACTICES RESEARCH

BEST PRACTICES RESEARCH

Contents Background and Company Performance ...................................................................... 2 Industry Challenges............................................................................................ 2 Focus on the Future and Best Practices Implementation ........................................... 3 Conclusion ........................................................................................................ 7 Significance of Visionary Innovation Leadership ............................................................ 7 Understanding Visionary Innovation Leadership ............................................................ 8 Key Benchmarking Criteria .................................................................................. 9 Best Practice Award Analysis for Living PlanIT ............................................................ 10 Decision Support Scorecard ............................................................................... 10 Focus on the Future.......................................................................................... 11 Best Practices Implementation ........................................................................... 11 Decision Support Matrix .................................................................................... 12 The Intersection between 360-Degree Research and Best Practices Awards .................... 13 Research Methodology ...................................................................................... 13 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices ............................................................................................................... 14 About Frost & Sullivan ............................................................................................ 15

Background and Company Performance Industry Challenges

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City infrastructure has come a long way from steel and brick structures to resilient and intelligent infrastructure systems that are fully automated and exhibit high efficiency. The proliferation of diverse communication technologies in these systems has helped amplify their intelligence, reliability, and efficiency. However, with advancements in technology, the complexity of infrastructure systems has increased exponentially. For instance, the traditional building management solutions available in the market are able to make all building-related aspects, including lighting, temperature, energy, and security, highly intelligent. However, these intelligent aspects function independently in silos, making it difficult to manage today’s highly intricate smart buildings. In addition, end users are missing the opportunities presented by the convergence of various infrastructure silos. For example, in the event of a security breach in a completely integrated building, the lights must automatically come on, along with the respective alarms. In such a situation, the key concern that deters seamless functioning is the lack of a platform that incorporates the various infrastructure aspects and easily manages the communication between the same. In a city, an integrated infrastructure approach offers several opportunities for users. Global urbanization levels are expected to register a significant increase from 54% in 2014 to more than 60% in 2030. The rising population concentration in key urban areas is forcing governments to rethink their expansion strategies. They could redistribute the population by developing satellite towns or by building smart cities. Smart cities typically are more efficient than traditional cities in terms of the optimal management and utilization of the resource nexus as they house next-generation smart and intelligent infrastructure. Governments and city corporations are increasingly employing Internet of Things (IoT) architecture in their infrastructure to build intelligent, resilient, and reliable systems in smart cities. However, these systems function independently without any type of interaction with other systems in the city. If these intelligent systems, including mobility systems and smart grids, communicated with each other seamlessly, valuable information can be generated. This information can then be used to augment the efficiency of individual infrastructure systems as well as the entire smart city itself. Infrastructure technology solution providers have strategically positioned themselves across different segments, such as power, mobility, communication, water, and waste management, with highly complex and bulky modules serving each of these domains. However, even with such integrators, no single solution is able to seamlessly unify the individual modules. Therefore, there is a need for a system or a platform that is scalable and can integrate the various aspects of an infrastructure system. Companies that focus on such innovation and are able to offer convergent platforms are in the best position to lead the market.

Focus on the Future and Best Practices Implementation Living PlanIT is a technology company that integrates sensors, devices, and people in an infrastructure ecosystem through its highly sophisticated software platform, PlanIT UOS™.

BEST PRACTICES RESEARCH

Living PlanIT was established based on the vision of delivering resilience and intelligence to cities by bringing together a wide variety of sensors on a single platform. The company has successfully executed its growth strategies with a balanced focus on technology and the formation of strategic alliances. Vision Alignment Living PlanIT’s mission is to provide a comprehensive, scalable, flexible, and intelligent infrastructure solution. This has motivated the company to relentlessly augment its platform by adding sensing capabilities to it and refining the data fusion and the insight generation methodologies. By creating an open source platform, Living PlanIT has offered its clients the freedom to reinvent the infrastructure ecosystem as they have envisioned. The company also partners with its infrastructure and real-estate clientele from the planning stage, through designing, till the execution phase. Its efforts are directed at ensuring the seamless implementation of an advanced infrastructure system. Focus on Unmet Needs PlanIT UOS™, the groundbreaking product from Living PlanIT, is a software platform that helps manage IoT in an urban infrastructure ecosystem. It is an all-encompassing middleware that provides real-time sensing control, spatial analytics, data integration, security, support, and contextual frameworks, which are necessary for any application. PlanIT UOS™ stands out from similar infrastructure management solutions in terms of its flexibility, scalability, and intelligence. Its flexible architecture allows an extensive variety of sensors and devices that conform to different standards and protocol to be integrated with it. Living PlanIT’s highly scalable architecture can not only be employed in a simple apartment building but also in a complex city environment. The most vital functional facet of PlanIT UOS™ is the manner in which it fuses the data received from the various elements (sensors, devices, and people) associated with the infrastructure and the useful insights that are generated to drive applications and create values. PlanIT UOS™ boasts of an application program interface (API) that is powered by an open source platform. This also enables third-party developers to utilize the insights generated by PlanIT UOS™’s core layer to develop applications that will help users to easily interact with the infrastructure. Technology Sophistication PlanIT UOS™ boasts of a layered architecture that can accommodate sensors, devices, and users, irrespective of their type and number. The infrastructure ecosystem that employs PlanIT UOS™ comprises 4 layers, namely, the sensor/actuator network layer, the controls layer, the supervisory layer, and the applications layer. The controls layer and the supervisory layer form the PlanIT UOS™ platform. The controls layer is responsible for the

BEST PRACTICES RESEARCH

accommodation of all the network devices deployed across the infrastructure. It runs the control codes or the driver applications that interface with this heterogeneous assembly of sensors, devices, and users. This layer is also responsible for the provision of autonomous immediate responses to the network elements for control requirements; for example, the dimming of a light bulb when people walk out of a room. The supervisory/core layer is the most vital in PlanIT UOS™ and it collects user or device data from the controls layer, manages the data, fuses the same in a sophisticated manner, and redistributes this intelligence across the infrastructure, ensuring that it reaches its target device or sensor. The supervisory layer also provides an API for the applications developed by infrastructure providers or third-party developers to leverage and develop PlaceApps, which are both location- and context-aware. Figure 1: Integrated Infrastructure Ecosystem as Powered by PlanIT UOS™

Source: Living PlanIT; Frost & Sullivan

The key technological aspects of the PlanIT UOS™ platform, which make it a highly sophisticated solution, are scalability and flexibility, while also being embedded with advanced safety protocol. With the rising trend of privacy threats and network attacks/hacks, Living PlanIT has been able to enforce sophisticated security codes while

BEST PRACTICES RESEARCH

giving the customer the freedom to control the accessibility of the user data as it flows through the system. PlanIT UOS™ employs a security mechanism wherein an Open Data Rights Language (ODRL) is utilized to define security as context-based policy statements. This enables a compact security environment involving fewer program codes as opposed to an elaborate and bulky code for settings. Further, the APIs can be used to irretrievably anonymize user data while conserving its collective usefulness for solution providers. Blue Ocean Strategy Through its innovative business approach and its sophisticated PlanIT UOS™ platform, Living PlanIT has not only been able to dominate the market but has also opened new avenues which hitherto did not exist. Through its research wing, PlanIT Labs, as well as through various industry alliances, the company is constantly developing groundbreaking hardware and software solutions that incessantly improve its PlanIT UOS™ platform. Moreover, Living PlanIT is developing biosensing capabilities that will engage genetically modified microbes to perform certain tasks and have them communicate back to the platform. Such biosensors and control devices can be instructed to execute actions on water, air, and other ecosystems, thus helping Living PlanIT control the infrastructure. Further, the company is looking to enhance the PlanIT UOS™ platform through its edgeless computing approach, which is expected to, in principle, simplify the control layer, thus moving the context (residing in the supervisory layer) closer to the devices or the users. Such strategic moves from Living PlanIT have not only helped it to smoothen operations and grow steadily but also facilitate the development of a roadmap to ensure sustained future growth. Process Design Principally, Living PlanIT is a technology solutions provider and allows infrastructure providers to customize its PlanIT UOS™ platform to suit their requirements. The platform showcases flexible architecture that includes an API, which is based on open and cross platform standards giving infrastructure providers various levels of access (core, application, and functional APIs) to completely customize and transform the platform from its raw state into a solution that completely aligns with their requirements. PlanIT UOS™ offers flexibility in terms of deployment to suit the needs and the operational context of the project it is involved in. It can be installed to run on the cloud, on local servers, or as a hybrid platform. Moreover, the platform can also run on Living PlanIT’s preconfigured servers or on popular cloud environments, such as Microsoft Azure or Amazon Web Services.

Growth Performance

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Since its inception, Living PlanIT has constantly innovated and has improved its technology capabilities, which have made it a well-recognized company across the world. The PlanIT UOS™ platform, which can be deployed on any scale, is bringing infrastructure providers significant returns on investments (ROIs) and other operational benefits throughout the solution lifecycle. In a building, by controlling and sharing intelligence across systems, such as lighting, security, and heating, ventilation, and air conditioning (HVAC), among others, PlanIT UOS realized a 30% capital expenditure (CAPEX) savings and a 20% operational expenditure (OPEX) savings. PlanIT UOS™ helps business establishments, such as malls, realize further advancements in revenue between 10% and 30%. This is especially important today as online retail capabilities are crossing over to the brick and mortar store and are offering services that include real-time decision making and product matching. In public places, such as airports, where the infrastructure provider has to deal with a large number of people, PlanIT UOS™ can be utilized to manage everything - from airport operations and security to retail joints. This leads to a 20% improvement in passenger flow and a 30% increase in retail revenue during peak hours. In a city, PlanIT UOS™ promises to bring new synergies that will allow different infrastructure systems to communicate and interact with each other in a seamless manner (previously, these systems used to work in silos). All these attributes have helped Living PlanIT win contracts from large companies and establishments that are leaders in their respective markets. Recently, the company partnered with Hitachi, a leading global technology company, to provide a smart city platform in Copenhagen, which will help the city to track resources consumption, reduce emission, and augment existing business processes and services. The Copenhagen Smart City platform, powered by PlanIT UOS™, is expected to realize a quick ROI and a 10% improvement in terms of energy efficiency.

Conclusion With its innovative and unified smart infrastructure management platform, Living PlanIT has emerged as a global force. The company is making quick inroads with flagship projects across the world. It has successfully developed a universal platform that can accommodate and project the sensibilities of infrastructure providers serving any regional market. Living PlanIT has grown to become an undisputed market leader that is able to effectively steer infrastructure towards a smarter future. With its strong overall performance, Living PlanIT has earned Frost & Sullivan’s 2015 Visionary Innovation Leadership Award.

Significance of Visionary Innovation Leadership

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A visionary innovation leadership position enables a market participant to deliver highly competitive products and solutions that transform the way individuals and businesses perform their daily activities. Such products and solutions set new, long-lasting trends in how technologies are deployed and consumed by businesses and end users. Most important, they deliver unique and differentiated benefits that can greatly improve business performance as well as individuals’ work and personal lives. These improvements are measured by customer demand, brand strength, and competitive positioning, as explored further below.

Understanding Visionary Innovation Leadership

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Visionary Innovation is the ability to innovate today in the light of perceived changes and opportunities that will arise from Mega Trends in the future. It is the ability to scout and detect unmet (and as yet undefined) needs and proactively address them with disruptive solutions that cater to new and unique customers, lifestyles, technologies, and markets. At the heart of visionary innovation is a deep understanding of the implications and global ramifications of Mega Trends, leading to correct identification and ultimate capture of niche and white-space market opportunities in the future.

Key Benchmarking Criteria For the Visionary Innovation Leadership Award, Frost & Sullivan analysts independently evaluated two key factors—Focus on the Future and Best Practices Implementation— according to the criteria identified below. Focus on the Future Criterion 1: Focus on Unmet Needs Criterion 2: Visionary Scenarios through Mega Trends Criterion 3: Growth Pipeline Criterion 4: Blue Ocean Strategy Criterion 5: Growth Performance Best Practices Criterion Criterion Criterion Criterion Criterion

Implementation 1: Vision Alignment 2: Process Design 3: Operational Efficiency 4: Technological Sophistication 5: Company Culture

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Best Practice Award Analysis for Living PlanIT Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyze performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation; ratings guidelines are illustrated below. RATINGS GUIDELINES

The Decision Support Scorecard is organized by Focus on the Future and Best Practices Implementation (i.e., the overarching categories for all 10 benchmarking criteria; the definitions for each criteria are provided beneath the scorecard). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies. The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key players in as Company2 and Company3. DECISION SUPPORTSCORECARDFOR VISIONARY INNOVATION LEADERSHIP AWARD (ILLUSTRATIVE) Measurement of 1–10 (1 = poor; 10 = excellent)

Visionary Innovation Leadership

Focus on the Best Practices Future Implementation

Average Rating

Living PlanIT

9

9

9.0

Competitor2

7

7

7.0

Competitor3

7

6

6.5

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Focus on the Future Criterion 1: Focus on Unmet Needs Requirement: Implementing a robust process to continuously unearth customers’ unmet or under-served needs, and creating the products or solutions to address them effectively Criterion 2: Visionary Scenarios through Mega Trends Requirement: Incorporating long-range, macro-level scenarios into the strategy, thereby enabling “first to market” growth opportunities solutions

innovation

Criterion 4: Growth Pipeline Requirement: Best-in-class process to continuously identify and prioritize future growth opportunities leveraging both internal and external sources Criterion 3: Blue Ocean Strategy Requirement: Strategic focus in creating a leadership position in a potentially “uncontested” market space, manifested by stiff barriers to entry for competitors Criterion 5: Growth Performance Requirement: Growth success linked tangibly to new growth opportunities identified though visionary innovation

Best Practices Implementation Criterion 1: Vision Alignment Requirement: The executive team is aligned on the organization’s mission, vision, strategy and execution Criterion 2: Process Design Requirement: Processes support the efficient and consistent implementation of tactics designed to implement the strategy Criterion 3: Operational Efficiency Requirement: Staff performs assigned tactics seamlessly, quickly, and to a high quality standard Criterion 4: Technological Sophistication Requirements: Systems enable companywide transparency, communication, and efficiency Criterion 5: Company Culture Requirement: The executive team sets the standard for commitment to customers, quality, and staff, which translates directly into front-line performance excellence

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Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts can then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. DECISION SUPPORTMATRIX FOR VISIONARY INNOVATION LEADERSHIP AWARD High Living PlanIT

Best Practices Implementation

Competitor 2

Competitor 3

Low Low

Focus on the Future

High

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The Intersection between 360-Degree Research and Best Practices Awards Research Methodology

360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS

Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often, companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360-degreeresearch methodology provides an evaluation platform for benchmarking industry players and for identifying those performing at bestin-class levels.

BEST PRACTICES RESEARCH

Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Our awards team follows a 10-step process (illustrated below) to evaluate award candidates and assess their fit with our best practice criteria. The reputation and integrity of our awards process are based on close adherence to this process. STEP Monitor,

1 target, and screen

OBJECTIVE

KEY ACTIVITIES

OUTPUT

Identify award recipient candidates from around the globe

 Conduct in-depth industry research  Identify emerging sectors  Scan multiple geographies

Pipeline of candidates who potentially meet all bestpractice criteria

Perform comprehensive, 360-degree research on all candidates in the pipeline

 Interview thought leaders and industry practitioners  Assess candidates’ fit with best-practice criteria  Rank all candidates

Matrix positioning all candidates’ performance relative to one another

2

Perform 360-degree research

3

Invite thought leadership in best practices

Perform in-depth examination of all candidates

 Confirm best-practice criteria  Examine eligibility of all candidates  Identify any information gaps

Detailed profiles of all ranked candidates

Initiate research

Conduct an unbiased evaluation of all candidate profiles

 Brainstorm ranking options  Invite multiple perspectives on candidates’ performance  Update candidate profiles

Final prioritization of all eligible candidates and companion best-practice positioning paper

5

Assemble panel of industry experts

Present findings to an expert panel of industry thought leaders

 Share findings  Strengthen cases for candidate eligibility  Prioritize candidates

Refined list of prioritized award candidates

6

Conduct global industry review

Build consensus on award candidates’ eligibility

 Hold global team meeting to review all candidates  Pressure-test fit with criteria  Confirm inclusion of all eligible candidates

Final list of eligible award candidates, representing success stories worldwide

7

Perform quality check

Develop official award consideration materials

 Perform final performance benchmarking activities  Write nominations  Perform quality review

High-quality, accurate, and creative presentation of nominees’ successes

8

Reconnect with panel of industry experts

Finalize the selection of the best-practice award recipient

 Review analysis with panel  Build consensus  Select winner

Decision on which company performs best against all best-practice criteria

9

Communicate recognition

Inform award recipient of award recognition

 Present award to the CEO  Inspire the organization for continued success  Celebrate the recipient’s performance

Announcement of award and plan for how recipient can use the award to enhance the brand

Share award news with stakeholders and customers

 Coordinate media outreach  Design a marketing plan  Assess award’s role in future strategic planning

Widespread awareness of recipient’s award status among investors, media personnel, and employees

4 director review

10

Take strategic action

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About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages almost 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.