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• 🔭 Why is everyone talking about observability? 

  🔭 Why is everyone talking about observability? 

  Unravel the mysteries of observability and find out why it's the hottest topic in tech!

  A curated selection of updates, insights, and events straight from the heart of Tyk! Got your ears perked for the latest tech talk? Well, you're in for a treat because we're diving headfirst into the world of observability – and trust us, it's more than just a buzzword.   In short, well-implemented API observability can deliver: Faster issue responses: Swiftly address API issues with monitoring Quick value delivery: Expedite value delivery through troubleshooting Enhanced quality: Improve user experiences with higher-quality APIs Deeper understanding: Gain insights to optimise API ecosystems. Embracing observability isn't just about keeping pace - it's about driving tangible business value by supercharging operations, boosting performance, and staying ahead of the competition.   And hey, speaking of staying ahead, have you heard about LEAP 2024? It's our API observability conference happening TOMORROW (Feb 29). Keep scrolling to sign up, and explore all the other (mostly) observability resources we have on offer.    P.S. Want to hear more from Tyk? Subscribe to our newsletter here. Tyk in the limelight LEAP 2024: The API observability conference Are you ready to transform your API observability skills? This one-day event promises to revolutionise the way you approach platform team operations and observability strategies. Oh, and we should add that by attending LEAP, you'll unlock exclusive access to the API observability fundamentals certification. Sign up here. We're going to KubeCon!  Get in the car (or train, or plane), we're going to Kubecon! Join us at booth L14 see how our solutions can elevate your platform maturity. And, make sure you join our session: Exploring OAuth2 Token Exchange for microservice API security - Wednesday, 20th March - 11:15 - 11:50. À bientôt!    The resource hub New blogs on the block Everyone's talking about observability Observability is a hot topic right now – and it’s about to get even hotter. Future Market Insights predicts the observability platform market will more than double in size by 2032, growing from a value of US$2,173.7 million in 2022 to US$5,553.2 million a decade later. So, why is everyone so excited?   The business value of observability  Observability, especially distributed tracing, transforms API monitoring and troubleshooting. Beyond that, it offers valuable insights for maintaining control, security, and compliance in an organisation's API ecosystem. Here, we delve into the business benefits of observability for API teams. Read more.   How to improve API observability  Getting API observability right underpins API-led growth. It can identify opportunities for revenue, support better decision-making and reduce operational overheads by creating more efficient working practices, particularly when it comes to open standards. Find out more.    Tyk events  LEAP 2024: The API observability conference   Exploring OAuth2 Token Exchange for microservice API security   KubeCon + CloudNative Con Europe 2024   Want to be the first to hear about our events? Sign up here to stay in the loop.   We also have a PLETHORA of webinars on all sorts of API-related topics you can crack into and watch on-demand here.   Go on, you know you want to check them out!   Why did the developer bring a telescope to the API party? Because they wanted to ensure top-notch API observability and keep a close eye on those endpoints!   Disclaimer: The author assumes no responsibility for the quality of this joke. This specific content is provided with no guarantees of laughter, entertainment, or any ounce of usefulness.    Tyk, 87a Worship Street, London, City of London EC2A 2BE, United Kingdom, +44 (0)20 3409 1911 Unsubscribe Manage preferences

  

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  by "Budhaditya Bhattacharya" <communities@tyk.io> - 12:04 - 28 Feb 2024

• How are higher costs affecting US consumers?

  On Point

  5 strategies for consumer brands ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Cost-conscious US consumers In the news • Maintaining higher prices. US shoppers are getting somewhat of a break from rising prices as the costs of commodities decline, the Wall Street Journal states. Still, many executives—including leaders of US food, retail, and toy brands—suggest that their companies will stay the course on prices while they continue to pay more for labor, transportation, and other overhead costs. In January, core consumer prices increased 3.9% compared with the previous year, a recent government report found. [WSJ] • US retail sales slip. US retail sales dipped 0.8% in January as consumers reined in spending after the holidays, Bloomberg reports. Although consumers are expected to curb spending in 2024, the continued strength of the labor market should support a gradual decline, and not a significant breakdown in spending, analysts said. Nine of 13 categories reported declining sales, with building materials stores and auto dealers experiencing the biggest drops, official data showed. [Bloomberg] Increased prices were the number-one reason consumers reported purchasing fewer items in grocery, personal care, and household products. On McKinsey.com • Choosier consumers. US consumers are becoming choosier despite a relatively strong economy and low unemployment, McKinsey senior partner Warren Teichner and coauthors reveal. Although Americans are shopping as frequently—if not more often—as they were a year ago, they are buying fewer items on each trip. Between 2022 and 2023, units per trip declined by 3 to 5% across the grocery, health and beauty, and household categories. • Bargain hunting. When asked why their shopping behaviors changed, one thing was clear: prices weighed on US consumers’ decision making. Consumers cited product price hikes and their ability to afford something as the key reasons behind purchasing fewer items across categories. Consumers said they also reduced the number of items they purchased because they were waiting for them to go on sale. Explore five actions consumer-packaged-goods leaders can take to hedge against declines in volume. Get 5 consumer company strategies — Edited by Belinda Yu, editor, Atlanta Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 12:53 - 28 Feb 2024

• Temperature Monitoring Software - Keep Temperature Sensitive Goods at the Right Temperature.

  Temperature Monitoring Software - Keep Temperature Sensitive Goods at the Right Temperature.

  Ensure that the products are always stored and transported at the right temperature.

  Download E-book The Unmatched Advantages of Using Temperature Monitoring Schedule a Meeting www.uffizio.com info@uffizio.com +91-7283858080 Uffizio Technologies Pvt. Ltd., 4th Floor, Metropolis, Opp. S.T Workshop, Valsad, Gujarat, 396001, India Unsubscribe Manage preferences

  

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  by "Sunny Thakur" <sunny.thakur@uffizio.com> - 06:00 - 27 Feb 2024

• Banks can face risks and opportunities head-on

  On Point

  How banks can reinvent themselves ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Banking’s changing landscape In the news • Old fraud, new tricks. Scammers pretending to be customers are nothing new in banking, but as technology—including deepfakes and voice cloning—becomes more commonplace and easier to use, experts say banks will need to do more to prevent fraud, the Financial Times notes. Deepfake videos are already being used as clickbait to send consumers to malicious websites, where scammers can grab their card payment details, researchers say. [FT] • Monitoring AI risk. US financial regulators have flagged risks posed by AI as a concern, warning that both companies and watchdogs need to be vigilant, reports Reuters. The regulators have pointed to external data sets and third parties when it comes to judging potential risks, since gen AI increasingly uses them. Financial leaders should “deepen expertise and capacity to monitor AI innovation and usage,” the authorities said. [Reuters] “By exploiting new technology, banks can boost productivity within six to 12 weeks, a massive change from what we have seen in the past.” On McKinsey.com • App happy. Despite challenges, the past 18 months have been the best period for global banking since at least 2007. But this is no time for complacency, McKinsey senior partner Alex Edlich and partner Reinhard Höll share on a recent episode of The McKinsey Podcast. To build on this momentum, they say, banks can meet customers where they are, which is often on third-party apps. Up to 30% of distribution in retail banking could end up taking place via third parties, such as online comparison platforms and embedded finance, McKinsey estimates. • Competing on technology. When it comes to making changes in technology, banks need to make sure the entire organization is on board, Höll advises. After implementing generative AI, the top 25% of banks experienced a large increase in coders’ productivity, while the bottom 25% of banks “saw an initial decrease because they didn’t take the people along,” Höll says. Learn three things tech-savvy banking leaders are doing to embrace technology, and for more, read the full report, Global Banking Annual Review 2023: The Great Banking Transition. Explore banking’s biggest shifts — Edited by Jana Zabkova, senior editor, New York Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 12:28 - 27 Feb 2024

• 48 hours to go! Enter the Remote Excellence Awards 2024 today 🏆

  48 hours to go! Enter the Remote Excellence Awards 2024 today 🏆

  You’ve got to be in it, to win it!

  We’ve been going through a flurry of entries for the Remote Excellence Awards 2024… it’s not too late for yours to be one of them! Whether you’re pioneering in DE&I, mastering global compensation, or crafting cutting-edge talent strategies, there’s a category tailored for your expertise. Last call! Did we mention the Awards are free to enter? Don’t be shy; this is your moment to shine ⭐  Just make sure you hit ‘send’ on your entry before the deadline this Friday March 1, 2024 at 11:59PM UTC. We’re looking forward to your entry!  Team Remote.   You received this email because you are subscribed to News & Offers from Remote Europe Holding B.V Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails Remote Europe Holding B.V Kraijenhoffstraat 137A 1018RG Amsterdam The Netherlands Copyright © 2024 Remote Europe Holding B.V All rights reserved.

  

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  by "Remote" <hello@remote-comms.com> - 11:31 - 26 Feb 2024

• 📆 Unlock the power of async work: Join our webinar.

  📆 Unlock the power of async work: Join our webinar.

  Learn about asynchronous work in action and its impact on global teams.

  Hi MD, 🎉 We're thrilled to invite you to our webinar: ASYNC Power Hour: Asynchronous Work in Action and Its Impact on Global Teams.  Watch on-demand, starting March 6th, 2024. This pre-recorded webinar is all about embracing async. Why this format? Because learning should fit your schedule, not the other way around. Register now for access Agenda Highlights: Buzzword or Future of Work? 🤔 Remote CEO, Job van der Voort unpacks the reality of async work in a global organisation. Confessions from the People Team: 💬 Insights into cultivating an ASYNC culture from our global team leaders. Hiring for an ASYNC Workplace: 👥 Learn strategies for assembling a remote-ready team, featuring advice from our Director of Talent Acquisition, Anastasia Pshegodskaya. Managing an ASYNC Team: 💼 Discover lessons from our leadership, including firsthand experiences from Amanda Day, Senior Director of People Enablement. Gain actionable insights and strategies to enhance your team's productivity 📈 and flexibility. Be sure to Register Now and set your team up for success. 🏆 The HR platform for global businesses Remote makes running global teams simple. Hire, manage, and pay anyone, anywhere. Get Started You received this email because you are subscribed to News & Offers from Remote Europe Holding B.V Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails Remote Europe Holding B.V Kraijenhoffstraat 137A 1018RG Amsterdam The Netherlands Copyright © 2024 All rights reserved.

  

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  by "Remote" <hello@remote-comms.com> - 09:01 - 26 Feb 2024

• Only the best: A leader’s guide to delivering exceptional customer experiences

  At your service ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   ESSENTIALS FOR LEADERS AND THOSE THEY LEAD Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Customer service blunders may be entertaining when they are lampooned in the media. In real life, however, shoppers who have been put on hold for hours or had packages go astray are unlikely to be amused. The COVID-19 outbreak brought about major changes in consumer behavior, pushing retailers to adapt quickly to meet customer demands and expectations—and today, those expectations continue to rise ever higher. Delivering a memorable customer experience (CX)—which we define as everything an organization does to provide superior experiences, value, and growth for customers—could be a game-changing competitive differentiator for companies if managed properly. AN IDEA Use AI to elevate the customer experience AI-based customer service transformations show great promise, but rising customer expectations, transaction complexity, and shortage of skilled labor may pose challenges. “Leaders in AI-enabled customer engagement have committed to an ongoing journey of investment, learning, and improvement, through five levels of maturity,” note McKinsey senior partners Greg Phalin, Renny Thomas, and colleagues. For example, organizations at Level 1 may still deploy paper-driven and high-touch interactions, but organizations at Level 5 may handle more than 95 percent of their customer service via AI and digital channels. A financial institution implemented an AI-powered transformation that increased self-service channel use, achieved a 40 to 50 percent reduction in service interactions, and decreased cost-to-serve by more than 20 percent. A BIG NUMBER 4 That’s the number of core steps in the new playbook that retail companies—whether they sell to consumers or businesses—may need to follow to create a deep connection with customers, according to McKinsey partner Marco Catena and colleagues. For example, developing new services is an important second step in the process. “The right portfolio of services will be based on a detailed understanding of the loyal customer base—in particular, how relevant the services are to them and whether there are unmet needs that you as a retailer can fulfill,” says Catena. “[A new service] should not be random but clearly and coherently match the brand values, purpose, and capabilities of the company.” A QUOTE “The convergence of CX and design may very well define the next world of customer experience.” That’s McKinsey senior partner Ewan Duncan and coauthors in an article on how combining traditional CX practices—such as capturing and analyzing customer data and sentiment—with user-centered design processes can result in customer journeys that deliver powerful impact. For example, design approaches can enhance quantitative data with insights from ethnography, psychology, and human factors to shed light on the motivations that underlie consumer behavior. Embedding design thinking into CX may need a shift in mindset, however, with customer-centric thinking becoming “a core capability for everyone across the organization, from the C-suite to frontline employees,” suggest the authors. A SPOTLIGHT INTERVIEW “Successful strategies are founded on the notion that consumers are in charge,” says McKinsey senior partner Becca Coggins in a podcast on the changes taking place in the retail industry. “The retailers that embrace consumer-driven commerce are the winners.” In particular, “zero consumers” exert considerable influence: these are people who shop across a variety of channels, have zero loyalty to specific brands, zero patience in waiting for delivery, and care about net zero, or sustainability. Winning over these consumers may involve capturing “share of life”—offering shoppers unique or unexpected ways to incorporate a specific retailer into their lives—as opposed to just share of wallet. “It’s important for retailers to go beyond the core of what we would call omnichannel retail—or even go beyond services,” observes McKinsey partner Steven Begley. Companies that go beyond their core omnichannel retail offerings stand to generate considerable revenue, he adds: “Our work suggests that, for most retailers, less than 10 percent of their revenue sits in those businesses today. But within five years, those businesses could be as much as 40 percent of the profits.” ANGER MANAGEMENT While there are always going to be some dissatisfied customers, unhappy consumers today are becoming more aggressive, at least according to the 2023 National Customer Rage Survey. And more of them are seeking “revenge” by pestering or publicly shaming companies that they believe haven’t responded to their complaints. There may be no easy solutions to the problem, but hypersonalization—also known as the “care of one”—could be a critical goal for companies to strive for in 2025. Hyperpersonalization involves proactively identifying customers’ needs, integrating technologies and contact across all channels, and implementing agent tools such as real-time coaching to tailor the care experience to each customer’s needs and journey. Lead by caring for customers. – Edited by Rama Ramaswami, senior editor, New York Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Leading Off newsletter. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 03:49 - 26 Feb 2024

• Will generative AI lift up Black communities?

  On Point

  Effects on minority workers ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Gen AI and Black communities In the news • AI’s early adopters. Companies around the world are spending billions to implement generative AI (gen AI) platforms, and many leaders are expecting the technology to demonstrate its value in 2024, the Wall Street Journal states. One early adopter, a US travel company, is using gen AI to provide personalized trip recommendations, factoring in customers’ previous trips and booking preferences. The company has also trimmed costs by automating summaries of customer service calls and other routine tasks. [WSJ] • Worried about AI. Marketplace notes that as more companies embrace technologies such as gen AI, many Americans are fretting about how AI may affect their jobs, a Rutgers University study finds. In the US, 70% of employees report being concerned about HR leaders using AI to guide their decisions, while 30% worry that AI might make their roles redundant. Lower-paid workers and workers of color are the most concerned about AI’s potential to hurt them. [Marketplace] Annual global wealth creation from generative AI is projected to be about $7 trillion, with almost $2 trillion of it expected to go to the US. On McKinsey.com • A wider wealth gap. Organizations are just starting to understand generative AI’s potential to lift productivity and create value. Yet new technologies often can create or worsen divides, McKinsey senior partner Mark McMillan, partner Jan Shelly Brown, and coauthors share. Without correcting long-standing patterns, gen AI has the potential to increase the racial wealth gap in the US. The McKinsey Institute for Black Economic Mobility finds that by 2045, a skewed distribution of new wealth created by gen AI could increase the gap between Black and White US households by $43 billion each year. • Gen AI and workers of color. One of the most pressing questions about gen AI is how it will affect workers of color. Black Americans are overrepresented in roles most likely to be taken over by automation. A McKinsey analysis of 2022 US data found that 24% of all Black workers are in occupations with greater than 75% automation potential, compared with 20% of White workers. Consider how gen AI, if deployed thoughtfully, could accelerate eight pillars of Black economic mobility. Build Black American wealth — Edited by Belinda Yu, editor, Atlanta Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 12:37 - 26 Feb 2024

• The week in charts

  The Week in Charts

  Racial parity in the US, Panama Canal restrictions, and more ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   ALL THE WEEK’S DATA THAT’S FIT TO VISUALIZE Our McKinsey Chart of the Day series offers a daily chart that helps explain a changing world—as we strive toward sustainable and inclusive growth. In case you missed them, this week’s graphics explored racial parity in the US, Panama Canal restrictions, shale oil production, shifting energy demands, and women’s adverse events from approved medicines. FEATURED CHART Reaching racial parity See more This week’s other select charts Unsmooth sailing  An outlook on oil Power-full planning A shortfall in addressing women’s health Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The Week in Charts newsletter. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 02:26 - 24 Feb 2024

• The power of problem-solving: Ditch conventional methods

  Readers & Leaders

  Plus, new reads for a new year ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   THIS MONTH’S PAGE-TURNERS ON BUSINESS AND BEYOND Your team has identified an ideal solution to a major challenge at work. There’s just one problem: the solution increases the workload for several team members and involves some elements of bureaucracy. Is it ideal if it reduces pain points but increases tasks? With so many cogs in the wheel, how can you set an effective game plan in motion? In this edition of Readers & Leaders, sharpen your business problem-solving skills and learn ways to overcome friction, strengthen teams, and enhance project management efforts. After studying more than 2,000 teams, Robert I. Sutton shares friction-fixing tips to streamline processes for greater efficiency and less frustration. Andrew McAfee and Howard Friedman outline unconventional methods for achieving goals. Mohammed Alardhi explains why situational awareness is a predictor of successful leadership. And Moshik Temkin draws on history to see how leaders from the past have shaped the future outlook. Read on to find out more about how you, too, can streamline efforts and improve productivity. IT BEARS REPEATING “[Friction fixing] starts with the mindset that leaders of organizations see themselves as editor in chief, whose job it is to subtract unnecessary stuff or to make it difficult for people to add in the first place.” —Robert I. Sutton, organizational psychologist and Stanford University professor emeritus of management science and engineering, in a February edition of Author Talks. IN CASE YOU MISSED IT Moshik Temkin on power, purpose, and the public good Too often, business initiatives get mired in bureaucracy, overconfidence, and lack of ownership. Massachusetts Institute of Technology’s Andrew McAfee explores reasons for the dysfunction—and how to fix it. Learn from the best Howard Friedman explores a narrative approach to data science We all know the best decisions are data driven. So why are so few leaders making good use of their analytics teams? Win with data  TURN BACK THE PAGE Looking to increase business productivity and reduce friction? Check out these previous Author Talks interviews to learn how: 1. How minor stresses add up to epic fails 2. Am I making myself clear? 3. Scale your people, not just your company  COMING SOON CEO Excellence To commemorate the second anniversary of CEO Excellence (Scribner, March 2022), we gleaned more leadership lessons from McKinsey senior partners and authors Carolyn Dewar, Scott Keller, and Vikram Malhotra. Revisit the insights that made the book a bestseller and bookmark our CEO Excellence book page for the new Author Talks interview that launches on March 15. Look ahead  What’s in store for retail? Philip Kotler, renowned marketing expert and professor emeritus of international marketing at Northwestern University, offers an enhanced perspective on retail in a March edition of Author Talks, saying, “There’s a perfect storm going on in retailing. Do we need stores anymore?” To learn why the digital age “isn’t the end,” check out Kotler’s interview about his new book, Redefining Retail: 10 Guiding Principles for a Post-Digital World (Wiley, January 2024), coauthored by Giuseppe Stigliano. Stay tuned! BUSINESS BESTSELLERS TOP 8 Need more books to add to your reading list? Explore January’s business bestsellers, prepared exclusively for McKinsey by Circana. Check out the full selection on McKinsey on Books. BUSINESS OVERALL Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA) BUSINESS HARDCOVER Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA) ECONOMICS Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D. Levitt and Stephen J. Dubner (HarperCollins Publishers) DECISION MAKING Clear Thinking: Turning Ordinary Moments into Extraordinary Results by Shane Parrish (Penguin Group USA) ORGANIZATIONAL BEHAVIOR Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA) WORKPLACE CULTURE The Includers: The 7 Traits of Culturally Savvy, Anti-Racist Leaders by Colette A. M. Phillips (Random House) COMPUTERS & AI The Year in Tech, 2024: The Insights You Need from Harvard Business Review by Harvard Business Review (Two Rivers Distribution) SUSTAINABILITY Venture Meets Mission: Aligning People, Purpose, and Profit to Innovate and Transform Society by Arun Gupta, Gerard George, and Thomas J. Fewer (Two Rivers Distribution) BOOKMARK THIS 2024 leadership imperatives What topics are top of mind for leaders in 2024? Hear from McKinsey partners about priorities in the year ahead. Take action  The state of Black residents: The relevance of place to racial equity and outcomes Check out a new report that examines the environments that come closer to the goal of creating equitable outcomes for Black Americans. Dive deeper  If you’d like to propose a book or author for #McKAuthorTalks, please email us at Author_Talks@McKinsey.com. Due to the high volume of requests, we will respond only to those being considered. — Edited by Emily Adeyanju, editor, Charlotte Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Readers & Leaders newsletter. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Readers & Leaders" <publishing@email.mckinsey.com> - 10:41 - 24 Feb 2024

• EP100: Polling vs. Webhooks

  EP100: Polling vs. Webhooks

  

  This week’s system design refresher: Polling vs. Webhooks How do we manage configurations in a system? What is CSS (Cascading Style Sheets)? What is GraphQL? Is it a replacement for the REST API? SPONSOR US 😘 Kiss bugs goodbye with fully automated end-to-end test coverage (Sponsored)

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  	Forwarded this email? Subscribe here for more EP100: Polling vs. Webhooks ByteByteGo Feb 24   READ IN APP   This week’s system design refresher: Polling vs. Webhooks How do we manage configurations in a system? What is CSS (Cascading Style Sheets)? What is GraphQL? Is it a replacement for the REST API? SPONSOR US 😘 Kiss bugs goodbye with fully automated end-to-end test coverage (Sponsored) QA Wolf offers a cost-effective approach to getting 80% test coverage in just 4 months. And they guarantee zero flakes. They build and maintain your test suite in Playwright + include unlimited parallel test runs on their infrastructure. The benefit? No more manual e2e testing, no more slow QAcycles, and no more bugs. QA Wolf has multiple case studies of customers saving $200k+/year in QA engineering and infrastructure costs. Schedule a demo to learn more. PS: They have a 4.8/5 star rating on G2. Learn more Polling vs. Webhooks Polling Polling involves repeatedly checking the external service or endpoint at fixed intervals to retrieve updated information. It’s like constantly asking, “Do you have something new for me?” even where there might not be any update. This approach is resource-intensive and inefficient. Also, you get updates only when you ask for it, thereby missing any real-time information. However, developers have more control over when and how the data is fetched. Webhooks Webhooks are like having a built-in notification system. You don’t continuously ask for information. Instead you create an endpoint in your application server and provide it as a callback to the external service (such as a payment processor or a shipping vendor) Every time something interesting happens, the external service calls the endpoint and provides the information. This makes webhooks ideal for dealing with real-time updates because data is pushed to your application as soon as it’s available. So, when to use Polling or Webhook? Polling is a solid option when there is some infrastructural limitation that prevents the use of webhooks. Also, with webhooks there is a risk of missed notifications due to network issues, hence proper retry mechanisms are needed. Webhooks are recommended for applications that need instant data delivery. Also, webhooks are efficient in terms of resource utilization especially in high throughput environments. Latest articles If you’re not a paid subscriber, here’s what you missed this month. How to Design a Good API? How do We Design for High Availability? Good Code vs. Bad Code Mastering Design Principles - SOLID A Crash Course in Networking To receive all the full articles and support ByteByteGo, consider subscribing: Upgrade to paid How do we manage configurations in a system? The diagram shows a comparison between traditional configuration management and IaC (Infrastructure as Code). Configuration Management The practice is designed to manage and provision IT infrastructure through systematic and repeatable processes. This is critical for ensuring that the system performs as intended. Traditional configuration management focuses on maintaining the desired state of the system's configuration items, such as servers, network devices, and applications, after they have been provisioned. It usually involves initial manual setup by DevOps. Changes are managed by step-by-step commands. What is IaC? IaC, on the hand, represents a shift in how infrastructure is provisioned and managed, treating infrastructure setup and changes as software development practices. IaC automates the provisioning of infrastructure, starting and managing the system through code. It often uses a declarative approach, where the desired state of the infrastructure is described. Tools like Terraform, AWS CloudFormation, Chef, and Puppet are used to define infrastructure in code files that are source controlled. IaC represents an evolution towards automation, repeatability, and the application of software development practices to infrastructure management. What is CSS (Cascading Style Sheets)? Front-end development requires not only content presentation, but also good-looking. CSS is a markup language used to describe how elements on a web page should be rendered. What CSS does? CSS separates the content and presentation of a document. In the early days of web development, HTML acted as both content and style. CSS divides structure (HTML) and style (CSS). This has many benefits, for example, when we change the color scheme of a web page, all we need to do is to tweak the CSS file. How CSS works? CSS consists of a selector and a set of properties, which can be thought of as individual rules. Selectors are used to locate HTML elements that we want to change the style of, and properties are the specific style descriptions for those elements, such as color, size, position, etc. For example, if we want to make all the text in a paragraph blue, we write CSS code like this: p { color: blue; } Here “p” is the selector and “color: blue” is the attribute that declares the color of the paragraph text to be blue. Cascading in CSS The concept of cascading is crucial to understanding CSS. When multiple style rules conflict, the browser needs to decide which rule to use based on a specific prioritization rule. The one with the highest weight wins. The weight can be determined by a variety of factors, including selector type and the order of the source. Powerful Layout Capabilities of CSS In the past, CSS was only used for simple visual effects such as text colors, font styles, or backgrounds. Today, CSS has evolved into a powerful layout tool capable of handling complex design layouts. The “Flexbox” and “Grid” layout modules are two popular CSS layout modules that make it easy to create responsive designs and precise placement of web elements, so web developers no longer have to rely on complex tables or floating layouts. CSS Animation Animation and interactive elements can greatly enhance the user experience. CSS3 introduces animation features that allow us to transform and animate elements without using JavaScript. For example, “@keyframes” rule defines animation sequences, and the `transition` property can be used to set animated transitions from one state to another. Responsive Design CSS allows the layout and style of a website to be adapted to different screen sizes and resolutions, so that we can provide an optimized browsing experience for different devices such as cell phones, tablets and computers. What is GraphQL? Is it a replacement for the REST API? The diagram below explains different aspects of GraphQL. GraphQL is a query language for APIs and a runtime for executing those queries by using a type system you define for your data. It was developed internally by Meta in 2012 before being publicly released in 2015. Unlike the more traditional REST API, GraphQL allows clients to request exactly the data they need, making it possible to fetch data from multiple sources with a single query. This efficiency in data retrieval can lead to improved performance for web and mobile applications. GraphQL servers sit in between the client and the backend services. It can aggregate multiple REST requests into one query. GraphQL server organizes the resources in a graph. GraphQL supports queries, mutations (applying data modifications to resources), and subscriptions (receiving notifications on schema modifications). Benefits of GraphQL: GraphQL is more efficient in data fetching. GraphQL returns more accurate results. GraphQL has a strong type system to manage the structure of entities, reducing errors. GraphQL is suitable for managing complex microservices. Disadvantages of GraphQL Increased complexity. Over fetching by design Caching complexity SPONSOR US Get your product in front of more than 500,000 tech professionals. Our newsletter puts your products and services directly in front of an audience that matters - hundreds of thousands of engineering leaders and senior engineers - who have influence over significant tech decisions and big purchases. Space Fills Up Fast - Reserve Today Ad spots typically sell out about 4 weeks in advance. To ensure your ad reaches this influential audience, reserve your space now by emailing hi@bytebytego.com   Like Comment Restack   © 2024 ByteByteGo 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe

  

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  by "ByteByteGo" <bytebytego@substack.com> - 10:39 - 24 Feb 2024

• AI is the new steam

  The Shortlist

  Four new insights ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   FOUR OF OUR BEST NEW IDEAS FOR THE C-SUITE Curated by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Tech is a bigger story than ever—in our businesses, societies, and economies. In this edition of the CEO Shortlist, we look closely at four ways leaders can harness technology to pull ahead of their peers. We hope you enjoy the read. —Liz and Homayoun What’s new The geeks are all right. The word “geek” used to mean a young person who was way too into computers, says Andrew McAfee, Massachusetts Institute of Technology research scientist focusing on digital technology. Now, it means someone who’s not afraid of taking unconventional approaches to hard problems. It’s also, he argues, the key to efficiently running a company in a tech-rich environment. Geek out with the latest edition of McKinsey’s Author Talks series, “Author Talks: Andrew McAfee on how a ‘geek’ mindset can transform your business.”  What’s now AI is the new steam. Hear us out: steam power, mechanized engines, and coal supply chains powered the First Industrial Revolution. The Fourth Industrial Revolution is already under way, but the efflorescence of AI has bent the S-curve for advanced manufacturing such that leaders are achieving truly transformative growth. Start your revolution with “Adopting AI at speed and scale: The 4IR push to stay competitive,” by Henry Bristol, Enno de Boer, and Rahul Shahani. What’s next An old story with a new ending. We’ve known for a while that simply upgrading technology without involving the business doesn’t work. Now, companies are finding ways to combine the power of tech with managers’ collective wisdom to transform the entire enterprise. Take a look at what three companies have accomplished by simultaneously rethinking their supply chains and tech stacks. Rewrite your story with “Tech-enabled transformations: Three supply chain success stories,” by Florian Bauer, Valerio Dilda, Lisa Gong, Christina Gröger, Bjørnar Jensen, Frederik Schulze Spüntrup, and Kaushik Vedpathak. What’s needed All grown up. McKinsey’s Organizational Health Index recently celebrated its 20th birthday. Our latest research confirms the original insight: how a leader runs a business affects its performance—a lot. But wait, there’s more. The latest research finds intriguing new contributions to organizational health from technology, data-based decision making, decisive leadership, dynamic talent deployment, and more. Take your company’s pulse with “Organizational health is (still) the key to long-term performance,” by Alex Camp, Arne Gast, Drew Goldstein, and Brooke Weddle. We hope you find these ideas inspiring and helpful. See you next time with four more McKinsey ideas for the CEO and others in the C-suite. Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The CEO Shortlist newsletter. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey CEO Shortlist" <publishing@email.mckinsey.com> - 03:24 - 23 Feb 2024

• ✨LEAP 2024: Elevate your API observability skills 

  ✨LEAP 2024: Elevate your API observability skills 

  Mark your calendars and get ready for an immersive experience in API observability!

  Hi Md Abul,   Budha here! With just one week remaining until the LEAP 2024 API observability conference, I'm delighted to announce the official agenda is now live, including all the sessions you need to redefine what you know about API observability.    Check out the full schedule and sign up for your free spot here: Check out the agenda At the heart of LEAP lies a bold mission: to shake up the API landscape like never before. How? By shining a spotlight on observability which can help platform teams create more efficient API platforms, assist developers in troubleshooting and improving their APIs, and enable product managers to extract more value from their API products.   So, what can you expect on the day? Oh, just a little bit of API observability magic sprinkled here and there, no big deal:    🌟 Keynote address 💡 Expert panel 🛠️ Interactive workshops 📜 API observability certification  👣 Distinct decision-makers and implementers tracks The important bits: Thurs 29 Feb Time 9am - 4pm ET Virtual Zoom event This is THE day to elevate your API observability skills from basic to expert level!   See you at LEAP 2024! Sign me up Budha and team Tyk, 87a Worship Street, London, City of London EC2A 2BE, United Kingdom, +44 (0)20 3409 1911 Unsubscribe Manage preferences

  

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  by "Budhaditya Bhattacharya" <communities@tyk.io> - 03:17 - 23 Feb 2024

• What technologies are fueling mobility’s future?

  On Point

  10 tech trends to watch ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Mobility’s latest technologies In the news • Driverless racing. Hairpin turns, squealing breaks, last-minute maneuvers: Can race cars driven by AI systems match the excitement of conventional racing? Autonomous racing offers the thrill of a high-speed chase while making autonomous vehicles (AVs) safer, reflects a robotics expert. Racing AVs on circuits such as the Indianapolis Motor Speedway requires the vehicles to adapt quickly to changing road conditions in a high-stakes environment. Research that goes into this effort paves the way for safer AVs on public streets. [Conversation] • Software on wheels. In 2023, US consumers bought a record 1.4 million electric vehicles (EVs). This surge in sales marks a critical shift to an electrified future, one in which EVs are reshaping the auto industry and redefining the car itself. With auto companies introducing about 40 new models since 2022, EVs are becoming more affordable, an analyst notes. As EVs evolve into high-tech gadgets, automakers are struggling to acquire new tech skills, manufacturing capabilities, and talent. [Atlantic] Applied AI is by far the most popular tech of the ten trends in mobility we examined. On McKinsey.com • Transformative tech. Thanks to the growth of EVs, autonomous driving, and other innovations, the mobility sector is changing fast. Our analysis of 3,500 industrial companies in ACES (autonomous driving, connectivity, electrification, and shared mobility) found that about 20% are already working on products or services related to ten leading tech trends, McKinsey Center for Future Mobility coleader Timo Möller and coauthors explain. These companies are in good financial health, with total funding reaching upward of $200 billion. • Applied AI. Of surveyed companies that operate in areas relevant to the top technology trends, 64% work in applied AI. As OEMs show a growing interest in automation, investment in applied AI is likely to rise. A McKinsey survey found that senior leaders expect spending on automation to account for more than 30% of their companies’ capital expenditures over the next five years. Learn how mobility leaders are using applied AI and other technologies to improve processes and address pain points. See 10 tech trends in mobility — Edited by Belinda Yu, editor, Atlanta Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 12:48 - 23 Feb 2024

• The Fourth Industrial Revolution, healthcare in Latin America, new business building, and more: The Daily Read weekender

  Relax and unwind with these reads ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   CURATED PICKS FOR YOUR DOWNTIME, FROM OUR EDITORS Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Relax and recharge this weekend with some of the week’s highlights on the Fourth Industrial Revolution, new business building for CEOs, healthcare in Latin America, and more. Henry Bristol, Enno de Boer, and Rahul Shahani explore how AI is defining the Fourth Industrial Revolution—and what manufacturers should do to stay competitive. Choose a path forward Markus Berger-de León and Nimal Manuel discuss new business building and why it is becoming a top priority for CEOs. Build and scale The much-coveted CEO role is the pinnacle for many talented senior executives. Find out which attributes can help them get there—and leave a legacy—in the latest Five Fifty from McKinsey Quarterly. Get your Five Fifty Robin Roark, MD, and coauthors share insights on consumer healthcare behaviors and experiences in Latin America based on a McKinsey survey of more than 4,200 people across six countries in the region. Explore the results QUOTE OF THE DAY “Are we going to rely on charisma or who’s at the top on the org chart or who’s getting paid a very high hourly rate? People do that. Companies do that. What the geeks do, what the geeks embrace is saying, ‘Where does the evidence take us?’ and following the evidence.” —Andrew McAfee, a principal research scientist at MIT’s Sloan School of Management, on embracing evidence-based arguments in a recent Author Talks interview chart of the day See the chart Ready to unwind? How to be a better chief of staff The chief of staff role sits at the intersection of leadership and support. It also comes with enormous responsibility, opportunity, and influence. Here’s how to navigate it. Do it right  Data Points: Your weekly quiz How well do you know the numbers behind the changes in business, society, and the world? Take the McKinsey weekly quiz to find out. Take the quiz  62-Across: Slacks, for example ... and what the two words in the answers to the asterisked clues can be interpreted as Know the answer? Test yourself with the latest The McKinsey Crossword: Slackers | No. 168. Pick up the slack  —Edited by Joyce Yoo, editor, New York Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our McKinsey Quarterly Five Fifty alert list. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 09:08 - 22 Feb 2024

• Tire Pressure Monitoring System - Keep Your Fleet Safe on the Road.

  Tire Pressure Monitoring System - Keep Your Fleet Safe on the Road.

  TPMS software provides analytics to enhance vehicle performance and prevent accidents.

  Download E-book The Unmatched Advantages of Using TPMS Schedule a Meeting www.uffizio.com info@uffizio.com +91-7283858080 Uffizio Technologies Pvt. Ltd., 4th Floor, Metropolis, Opp. S.T Workshop, Valsad, Gujarat, 396001, India Unsubscribe Manage preferences

  

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  by "Sunny Thakur" <sunny.thakur@uffizio.com> - 06:00 - 22 Feb 2024

• How to Design a Good API?

  How to Design a Good API?

  

  We can find web services and APIs (Application Programming Interfaces) everywhere, but many are painful to use. Have you ever connected a web service using its API and wondered, "What were they thinking?" We have, and connecting services via API can be confusing. Whether due to bad design, missing docs, constant changes, or bugs, using APIs is often a struggle.

  ͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­

  	Forwarded this email? Subscribe here for more Latest articles If you’re not a subscriber, here’s what you missed this month. 7 Microservices Interview Questions Why the Internet Is Both Robust and Fragile Unlock Highly Relevant Search with AI Does Serverless Have Servers A Crash Course in Docker To receive all the full articles and support ByteByteGo, consider subscribing: Upgrade to paid How to Design a Good API? ByteByteGo Feb 22 ∙ Preview   READ IN APP   We can find web services and APIs (Application Programming Interfaces) everywhere, but many are painful to use. Have you ever connected a web service using its API and wondered, "What were they thinking?" We have, and connecting services via API can be confusing. Whether due to bad design, missing docs, constant changes, or bugs, using APIs is often a struggle. But it doesn't have to be that way. We can create fantastic web APIs that people love using, and we'll enjoy making them too. So, what's the key to designing a good API? This issue shares the secrets, guiding us in creating a clean, well-documented API that is easy to use. Get ready, and let’s understand how to design an API that people enjoy using. The Importance of Good API Design APIs are crucial assets for companies. Customers don't casually use APIs – they invest time and money in integrating, coding, and learning about them. However, relying so heavily on APIs comes with challenges. The cost of discontinuing an API's use can be substantial, showing the critical role APIs play in operations. Well-designed public APIs have great potential to attract and retain users. However, poor API design can quickly cause problems - like floods of support calls from a dysfunctional API. This can turn a company's greatest digital assets into headaches. This dual nature of APIs points to the importance of care and precision when designing them. The goal is to craft APIs that provide more benefits than drawbacks. When we build products, we're usually thinking about regular people without much tech expertise. We create a friendly interface, getting input on what they want. But API development is different - we're making an interface for skilled programmers. They notice even minor issues and can be as critical as we would be. Our perspective as API designers is a bit distinct from that of users. We focus on what an API should do or offer. Meanwhile, users care about easily getting what they need with the least effort. These differing viewpoints cause problems. The key is shifting our viewpoint to match that of the user. Seems obvious, but few APIs take this user-centric approach. Characteristics of a Good API A quality API has several characteristics that contribute to its effectiveness, usability, and long-term success: Now that we've covered what makes a good API, let's move on to tips for designing one. Requirements Gathering The first vital step for designing a quality API is gathering requirements from users. Approach this process with skepticism. Users often suggest specific solutions rather than focus on their underlying needs. Our job is to have users walk us through core use cases to uncover those fundamental needs, even when hidden at first glance. There may be better design ideas lurking beneath the initial “solutions” suggested. Additionally, it’s exciting to envision very versatile APIs that address a wide variety of challenges. But we must stay laser-focused on users' actual requirements first. Start the design process by drafting a high-level functional specification. Speed and flexibility are more important than comprehensive details at this early experimental stage. Share the draft widely, both with target users and other stakeholders. Listen intently to feedback, as there will likely be valuable insights on how to shape a refined offering. The key is not making too many assumptions early on. Requirements gathering sets the foundation - take time to get it right before moving on to formal API design. One API, One Purpose A key rule for designing excellent APIs is that each should focus squarely on solving one primary problem very well rather than trying to address too many diverse issues. Creating a general “Swiss army knife” API attempting to cover many use cases often fails. The scope gets too scattered without a crisp, singular purpose tied to specific user needs. Trying to be everything for everyone results in shallow functionality. Instead, limit the scope of each API we build. Ensure the purpose stays clear and focused. Align all capabilities directly to that goal of fulfilling a distinct user need. Anything peripheral should be removed. For example, an API focused solely on address validation has a clear purpose. One centered exclusively on credit card transactions defines different but still narrow functionality. Clarity and Consistency Let’s explore some effective naming practices and standardized responses that contribute to an API's overall clarity and consistency. Choosing intuitive names When designing a good API, clarity starts with the names we choose for endpoints and resources. Adopting and applying naming conventions consistently allows developers to intuitively understand the API, like speaking a common language. For instance, using the RESTful convention for endpoints like "/users" to retrieve user information aligns with industry standards. This helps developers grasp the purpose of endpoints without excessive documentation. Keep reading with a 7-day free trial Subscribe to ByteByteGo Newsletter to keep reading this post and get 7 days of free access to the full post archives. Start trial A subscription gets you: An extra deep dive on Thursdays Full archive Many expense it with team's learning budget   Like Comment Restack   © 2024 ByteByteGo 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe

  

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  by "ByteByteGo" <bytebytego@substack.com> - 10:39 - 22 Feb 2024

• How healthy is your company?

  On Point

  3 organizational health trends ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities (Organizational) health is wealth In the news • Record-high bankruptcies. US corporate bankruptcies surged in 2023, surpassing even the number of bankruptcies in 2020, when the COVID-19 pandemic shut down economic activity in many parts of the world, Fortune reports. Last year, a record 642 US companies filed for bankruptcy, the highest in 13 years and a 72% increase from 2022, according to S&P Global. Corporations are expected to face similar pressures in 2024, including elevated interest rates and strong growth in wages, analysts said. [Fortune] • Depleted cash. Despite some good news about the American economy, hundreds of US brands declared bankruptcy in 2023, a significant increase from previous years, NPR states. Low interest rates during the height of the COVID-19 pandemic led many companies to borrow money to stimulate growth. More recently, higher interest rates have made it harder for businesses to obtain new loans, even as they run out of cash. Although bankruptcies can be painful, they also offer struggling companies a chance to restructure and survive. [NPR] McKinsey’s Organizational Health Index shows that healthy organizations deliver three times the TSR of unhealthy organizations. On McKinsey.com • Secret to success. What makes some companies succeed, while others don’t? According to McKinsey research, organizational health is the strongest predictor of value creation and a critical factor in sustained competitive advantage, McKinsey senior partner Arne Gast and colleagues note. In one evaluation of 1,500 companies in 100 countries, companies that had improved their organizational health realized 18% increases in their EBITDA after one year. • Health and resilience. Healthy organizations aren’t just higher performers. These companies are also more resilient and better able to manage downside risk. For instance, from 2020 to 2021, during the pandemic, healthy organizations were 59% less likely than unhealthy organizations to show signs of financial distress. Consider three important trends in organizational health and how leaders can build and maintain it. Discover org health trends — Edited by Belinda Yu, editor, Atlanta Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 12:20 - 22 Feb 2024

• The best CEOs succeed at each stage of the CEO journey. Here’s how.

  Intersection

  Get your briefing ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   YOUR FIVE-MINUTE BRIEFING—OR A DEEP DIVE IN FIFTY Learn more about McKinsey’s Strategy & Corporate Finance Practice The CEO journey: Finding success at every stage The much-coveted CEO role is the pinnacle for many talented senior executives. Developing certain attributes can help them get there—and leave a legacy. Get your briefing The best new CEOs are quick to treat their transitions into the role as an opportunity for renewal—both for themselves and the organizations they lead, say McKinsey’s Carolyn Dewar, Scott Keller, Vikram Malhotra, and Kurt Strovink. Which span of time is considered most vital by leading early-tenure CEOs? To take the quiz and to explore other stages of the CEO journey, check out the latest edition of the Five Fifty. Get leading Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our McKinsey Quarterly Five Fifty alert list. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Quarterly Five Fifty" <publishing@email.mckinsey.com> - 05:45 - 21 Feb 2024

• What consumers want from wellness offerings

  Re:think

  A pulse check on wellness  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  FRESH TAKES ON BIG IDEAS ON THE FUTURE OF WELLNESS The trends defining the wellness market Anna Pione Four years ago, investors and consumer brand executives often asked us to define what wellness meant to consumers, describe the size of the health and wellness market, and answer whether wellness was just another marketing buzzword that would fade away as consumers found themselves intrigued by something new. Then, COVID-19 helped accelerate growth in this space, as all things health and wellness were top of mind for global consumers with unresolved questions about how to keep themselves both mentally and physically healthy. As the pandemic has moved into its endemic stage, the focus on wellness has remained. Our Future of Wellness research shows not only that the sector could offer significant growth potential to investors, businesses, and employers but also that it has demonstrable staying power. Eighty-two percent of US consumers consider wellness a top or important priority in their everyday lives, which echoes our findings in China, the United Kingdom, and other countries. Wellness interests consumers not only across geographies (often with more similarities in their preferences than differences) but also across demographic and income groups. The market—which we consider to be made up of categories that address health, sleep, fitness, nutrition, appearance, and mindfulness—has grown to around $1.8 trillion globally, up from $1.5 trillion in 2021. We expect the US market to continue to grow between 5 and 10 percent annually.   Just because the opportunities in wellness are plentiful does not mean the space is easily conquered, however. New entrants and incumbents may underestimate the wellness space and consumer sophistication regarding it. Businesses and investors that understand consumer behavior trends on the horizon will be best positioned to find success in the wellness space. Consumers’ expectations for products and services have grown, and their ability to sniff out false wellness claims has improved, too. Consumer trust is more important than ever in wellness; our Future of Wellness research indicates that doctors’ recommendations for wellness products and word of mouth influence consumer purchases more frequently than other sources, such as posts from social media influencers.  “In the United States alone, we estimate that the wellness market has reached $480 billion, growing at 5 to 10 percent per year.” Meanwhile, constant product and tech innovation makes it difficult to sustain a strong value proposition and growth over time. Consumers now demand more than the basic levels of personalization, but so far, personalization offerings have remained somewhat one-dimensional. Leaning into new technology, such as generative AI, could help deliver deeper levels of personalized insights on an array of biometric data. That could give companies a leg up in the market. None of these consumer insights should be discouraging. Rather, it’s an opportunity to create truly valuable consumer offerings. Consumers know what they want, and companies can meet those needs. Plus, consumers are increasingly proactive in monitoring their health and open to new tech tools that help them do so. Our research indicates that consumers are willing to use telemedicine services, biometric devices, and at-home health-testing kits.   Consider sleep, a longtime focus for wellness brands—and an area where consumers say they have the most unmet needs. Perhaps because of the numerous factors that can affect getting a good night’s sleep (including diet, exercise, and caffeine), no one tech giant or emerging brand has been able to own the market. Through our research, we know that consumers are looking for science- and data-backed solutions to their wellness problems, so the company best able to use data to address as many sleep factors as possible will gain a competitive edge.   Other areas, such as women’s health, are woefully underserved, with consequential research and funding gaps that result in a lack of consumer choices. The products and services that are available in the women’s health space often focus on reproductive health. (Our research indicates that women spend more on menopause- and pregnancy-related products than on other reproductive-health products.) That said, the women’s health space can also look beyond reproductive health to include conditions that affect women disproportionately, such as headache disorders, autoimmune diseases, and depression. Our findings should not inspire executives to overhaul a business at the expense of its core brand identity. Instead, consumer leaders should be asking questions such as, “What is the innovation that we will bring to market next?” and, “How am I going to communicate that to consumers?” The wellness market may be evolving, but one thing is certain: it’s here for the long haul. Share Anna Pione’s insights ABOUT THIS AUTHOR Anna Pione is a partner in McKinsey’s New York office. MORE FROM THIS AUTHOR The rise of the chief medical officer in consumer-facing companies This role expanded during the pandemic to encompass many facets of health and well-being. Now companies must clearly define its responsibilities to support business strategy. More  How to thrive in the global wellness market Consumers everywhere plan to spend more on products and services that improve their health and wellness. Here’s what that means for companies. More  UP NEXT Delphine Zurkiya on generative AI in healthcare Generative AI may change the way we interact with doctors, making our visits smarter and more efficient. For starters, making an appointment could get a lot easier. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our McKinsey Quarterly alert list. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 01:13 - 21 Feb 2024