Digital Transformation
Digital transformation encompasses the whole organization working seamlessly to handle internal and external workflow more efficiently by leveraging digitization and automation with technologies such as cloud computing, artificial intelligence (AI) and internet of things (IoT). The foundation for digital transformation must be done with a full array of products, solutions, and services that covers connectivity, security, automation, and analytics throughout your entire value-chain.
Digital transformation people process technologies include:
- Customer centric approach
- Drive success with agile methods
- Create new value in business models
- Make data-driven decisions faster with intuitive dashboards
- Measure digital return on investment (ROI)
- Reboot your entire business
- Collaboration across all business units
- Evangelize a digital mindset throughout your organization
- Add new talent to refresh your organization
Digital transformation unlocks the full potential of data available to any business and helps to make data driven faster and agile. A business cannot fully realize the benefits of digitization unless all three components of digital transformation – people, business and technology or on the same page. The leadership from all units below across the organization have to be aligned to achieve common goals:
- Finance
- HR
- IT
- Marketing
- Sales
- Manufacturing
- Logistics
- Customer Service
Businesses that want to succeed with digital transformation efforts must establish a common set of KPIs including customer experience, operation model, business model, leadership and capability & technology. Ensure that your KPIs are well defined and have a timeline which is reasonable for all key businesses units. Internal and external organizations may also be involved in defining these KPIs.
Businesses that succeed with digital transformation can achieve success in:
An Engaging Digital Experience
Digitally transformed businesses know how to deliver experiences to their customers. The success of any business through digital transformation is creating a digital experience that feels relevant, effective and emotionally enticing for customers.
Digital Operations
Businesses must be agile enough to deliver their services. The right technologies, seamless process, skilled and experienced people, an organization that supports collaboration, experimentation, and innovation is the key to success.
Digital Innovations
Experience, eco-structure, efficiency, and cybersecurity are the four most crucial aspects of digital innovation for any business. Digital innovation often starts with experimentation in innovation labs and test-and-learn mindsets. However, businesses must equally focus on building an innovative and scalable approach that requires appropriate investments in scaling and putting value-added proofs of concept into production.
Digital transformation efforts rely on digital technology which makes it fast and easy to convert customer insight into customer-centric products and services. This helps businesses to engage customers in a better way and stay ahead of the competition.
Digital transformation boosts agility and operational efficiency. Digital technologies like AI and advanced analytics improve internal business processes.
Digitally enlightened companies layer technology to delight customers and meet business needs. Having a flexible, cloud-enabled platform that includes foundational technologies like data management and analytics allows businesses to scale and grow. Adopting emerging technologies allows them to differentiate and disrupt with new products and services.
Cloud
Cloud gives organizations quicker access to data, software, and capabilities. This, in turn, makes them agile enough to transform. Cloud offers a fundamental change in service delivery and consumption, a disruptive technology enjoyed by anybody who uses virtual assistants like Alexa or a business that communicates on Slack.
Artificial Intelligence (AI)
AI is used to automate processes, especially low-level processes done consistently at high speeds such as examining microchips for defects. It also enables personalization at scale. In turn, marketers can offer smart services like chatbots, which use natural language processing to understand the context and perform human-like functions.
Advanced Analytics
Analytics turns data into insight. And insight is what organizations use to innovate in a digital world. With advanced analytics, sophisticated algorithms can be woven seamlessly into daily operations, increasing the speed and accuracy of virtually any process. An analytics platform brings together all analytics efforts, from data to discovery to deployment.
Data Management
Doing business in a digital world means coping with the torrent of structured and unstructured data pouring in from seemingly infinite sources. Data fuels the technologies that enable digital transformation. To succeed, organizations must be adept at accessing, preparing, cleaning, managing and governing data.
Internet Of Things (IoT)
The real value of IoT comes from being able to analyze the streaming data and take action on it quickly – filtering relevant data from noise.
Manufacturers have been successful at using IoT technologies to optimize the supply chain.
Big Data Analytics
Big data resulting from digitization accelerates the need for transformation and it requires big data analytics to unlock its value. By applying advanced analytics and AI to big data, organizations can make faster-paced, forward-thinking decisions. This, in turn, allows businesses to evolve as new, data-driven businesses arise.