I’m becoming a digical life form. Here’s the evidence:
Digical is a blend of the physical and the digital. I think of it as adding digital extensions to humans (or other animals). But Bain & Company actually coined the term (in a recent white paper) and they think of it as business, not biology.
In Bain’s usage, digical refers to the merger of a company’s physical and online operations. When e-commerce took off back in the 90s, some wild-eyed analysts predicted that it would spell the end of brick-and-mortar stores. As Bain (and many others) have pointed out, nothing could be farther from the truth.
As we all know (but sometimes forget) humans are social animals. We like to be around other people. We generally thrive in society and wither in isolation. (It’s why tall buildings make you crazy). For this very reason, Bain suggests that the future of retailing will be the digical world. Retailers will increasingly merge physical stores and online operations into “omnichannel” solutions.
Other industries – especially entertainment and technology – will go digical quickly. Even industries like construction, which might not seem like digical leaders, are getting digital tools to dig better holes and build smarter buildings. Smart tractors use GPS and a databank of seed information to help farmers plant smarter, conserve resources, and increase yields.
In reading Bain’s white paper, three things stood out for me:
I like the term digical; I hope it becomes the word of the year in 2014. Bain has a very clear definition and useful advice for businesses. Personally, I’d like to see the definition expanded to include biology as well as business. After all, we’re all going digical.
(Digical is a sales mark of Bain and Company).