$100 billion group is also working on developing an omni-channel market place, Image: @ commons.wikimedia.org
By Falaknaaz Syed: The $100 billion Tata group is betting big on digital healthcare and data analytics. On Wednesday, the group said that it would focus on digital health and wellness platform for providers and consumers enabling preventive and predictive healthcare. “The digital health platform will connect retail clinics, multi-speciality clinics, pharmacies and laboratories with individual consumers, healthcare providers and wellness centres,” said the company. A second digital initiative, based on analytics, is aimed at arming Tata companies with sharp and comprehensive consumer insights. The newly formed consumer analytics division at Tata industries will create a holistic view of the customer, unveiling new business opportunities at the company, cluster and group level. The group is also working on developing an omni-channel market place which will seamlessly integrate store shopping and online buying. Offering renowned brands, both Tata and non-Tata, across lifestyle and electronics categories, it will be powered by technology platforms, systems and processes managed through collaboration of the relevant Tata companies. Mistry asked Tata companies to ensure sustainable profitable growth and to develop agile businesses amidst a changing and volatile world business environment. This was part of his address to group's leadership and senior management at the Tata group's annual group leadership conference (AGLC). “Sustainable profitable growth is the key building block for long term stakeholder value creation,” Mistry said. According to the statement, some of the enablers for this growth were - developing unique consumer insights , diversification of profit pools, creation of intellectual property rights, deployment of robust risk management processes, creation of financial flexibility to seize opportunities and minimising impact on the environment. Mistry said that the Tata group would need to maintain its success in a changing world marked by global volatility and an inexorable shift towards a digital future. He also highlighted the opportunities all across the globe and those presented by a rapidly growing Indian market whose relative importance in the global economy would substantially increase by 2030. According to the statement, Mistry disclosed that revenues had grown from $103.27 billion in the previous year to $108.78 billion. International revenues constituted 68 per cent of the group's revenues. The group invested about $10 billion worldwide during the year, and closed the financial year with a market capitalisation of $134 billion, up 17 per cent over the previous year. Source: mydigitalfc.com
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