Shaping business into the future
Staying ahead of the curve is imperative in any industry. Businesses need to be adaptable, responding effectively to an ever-changing marketplace, workforce, and consumer demand. From the rise of Ai to an explosion of real-time data, modern business success is now defined by how quickly leaders can turn information into action.
Meet the SMEs (Subject Matter Experts)
With a trend towards specialisation and customised client experiences, businesses need professionals who can connect technical data skills with practical strategy. Subject Matter Experts are no longer just industry veterans — they’re analytics translators, Ai strategists for business leaders and data-driven decision makers. Knowledge sells. Consumers have enough information at their fingertips to do their own research, so they crave in-depth, informed analysis of products, strategies, or services to guide their decisions.
The World Economic Forum’s Future of Jobs Report 2023 shows that data analysts and Ai specialists are among the top five fastest growing roles globally – and demand is projected to grow by 30 per cent over the next five years. Professionals looking to meet this demand are increasingly exploring MBA in Ai and machine learning programs, where they can bridge analytics with strategy.
Make it personal
Consumers want an experience geared towards their requirements; technology and algorithms now power this at scale. Asking clients the right questions, then offering products custom-picked for their needs, creates a positive experience. With SMEs in-house and technology advancing, now is the time to connect with clients using real people – but backed by smart data models and ethical Ai systems that learn, adapt, and improve the customer journey. Integrating an effective Ai strategy for business leaders or an MBA with Ai focus ensures personalisation at scale.
Recent McKinsey research shows that companies leading in personalisation generate 40 per cent more revenue than their slower peers.
Millennials are the bosses now
Millennials are stepping into leadership roles, while Gen X rises to the C-Suite as Baby Boomers retire. Millennial and Gen Z leaders expect data-backed insights to shape every decision - from ESG strategy to people's analytics.
From making organisational decisions to starting their own ventures, Millennials are used to integrating technology into every part of their lives, bringing innovation, creativity, and data-driven decision-making to the workplace. Add to this the gig-based marketplace, where freelancers are readily available on a per-project basis, and businesses can find the best people at the most convenient time.
SHRM 2024 trends show that 71 per cent of organisations now use people's analytics to drive workforce decisions – and the leaders driving this shift are the same generation transforming legacy business models into agile, data-literate teams. For these leaders, knowing what is MBA in artificial intelligence and how it integrates data science with strategy is becoming increasingly valuable.
E-commerce keeps evolving
Businesses are moving online, and so are financial transactions. It’s never been easier to pay for something without getting your wallet out. Crowdfunding, advertising, investing; it’s all done with a few clicks or swipes.
With global e-commerce sales expected to hit US$4.3 trillion in 2025, businesses increasingly depend on predictive analytics to forecast demand, optimise supply chains, and design targeted campaigns. The brands that succeed don’t just sell online; they capture, analyse and act on real-time consumer data. A strong adaptation strategy in business ensures leaders stay ahead in the rapidly evolving e-commerce landscape, often through specialised skills like business analytics in MBA programs.
Innovative income streams
Crowdfunding is no longer a novel idea for startups. It’s a legitimate way to acquire funds for new products and to propel new ideas. Crowdfunding gives clients and consumers insight into your product or service at the early stages of development.
The sharing economy also encourages ongoing small payments, rather than relying on one-off transactions. People are choosing to share cars rather than own them, stream services instead of purchasing digital downloads and so on. This shift transforms revenue streams into a more stable and consistent flow.
Advanced analytics help leaders test new models, simulate financial scenarios, and predict how emerging technologies, like generative Ai, will reshape traditional revenue streams. Data-literate managers can now experiment with new business models faster, measure results confidently, and scale only what works. Implementing an Ai strategy for business leaders or advancing through an MBA in Ai and machine learning is crucial for testing these innovative income streams effectively.
Mastering the future of business means mastering data. RMIT Online’s Master of Business Analytics and AI Strategy, Graduate Certificate in Business Analytics and Graduate Certificate in Data Science give you the tools to turn information into insight – and insight into strategy. Learn from industry experts, build future-ready skills, and study 100% online, anywhere.
Speak to one of our expert Student Enrolment Advisors today on 1300 701 171 to learn how you can stay ahead of the curve – and shape what comes next. Develop your adaptability in business with an MBA with Ai focus and Ai strategy for business leaders to succeed in tomorrow’s market.