The Meaning Importance of Digital Transformation
There was a time when businesses, as usual, was often good enough, though, every era has its buzzwords. The era we live in is everything interconnected, equally outstanding, performance is getting perfection. There’s only one space left to innovate in you. You are the main point of the raging tornado of change fuelled by digitization, Augmentation, mobilization, Automation, and a whole lot. Today, science fiction is about to become science fact. Think about a self-driving car, the computer can learn your behavior and act. Transformative technologies are bringing major changes in many aspects of business and even entire industries, just like the 18s when steam engine and electrification innovation revolutionized whole sectors. Sound’s amazing, isn’t it? but it may create problems for a lot of businesses. As per John Chambers (CEO of Cisco System) “At least 40% of all businesses will die in the next 10 years if they don’t figure out how to change their entire company to accommodate new technologies.”
In short word, digitalization is critical to the survival of businesses – not merely because of vitality that it offers to a company by upping its operational efficiency, but due to its capability to let a business act proactively by having the right decision as well.
But, in spite of such kind of resounding affirmation from the leading lights of the market, around 34% of organizations have owned a digital transformation. So what is it?
What is Digital Transformation?
Digital Transformation is a strategic planned organizational change, which begins by empowering teams with a unique technique to create a highly responsive strategy and fearless culture of innovation. Fundamentally, it is a way of changing how the business operates service and value to users or consumers.
Moving to new technology, implementing digital services, or even truing workload into cloud computing architectures, it isn’t that easy. Often digital transformation involves scrutiny, reinvention, and even creation of new jobs at an organization. A company must have great employees with great skill sets. Suppose that your company pivots toward data to be a big part of the business model, then you need a data protection person.
Digital transformation is used as a cover term to define multiple upgrades within an organization. You may be implementing new tech in the workplace, but it could impact many different areas of your business. Adding one new tech in a specific area may require a new system in other parts of the area. For example, A higher and faster computer a bigger server.
Putting new tech in the workplace is easier said than done. You need to come out of your comfort zone and change the old traditional work.
Of course, digital speed would be much faster than a traditional one. The digital transformation can bring success for your business largely because of the speed of accuracy, especially when digital disruptions are giving strong competition in the market. Now you might confuse about that so let’s know about their benefits.
#1 offers a great and new experience to the customer
Today there are so many similar products available on the market, it is very difficult to differentiating completely on prime offer. This is why customer experience alone has emerged as the new battleground for getting explicit differentiation. In fact, the consumer looks at it as the core criterion while buying stuff and making a decision to buy one. They want to know everything about the product. Many studies found that around 85 to 95 percent of consumers are more likely to be loyal to a brand.
Here, digital transformation can offer a quick boost to the enhancement of consumer experience. In this way, the company can have real-time and cohesive communication with users. AI-powered chatbots can reduce consumer issues faster than ever – it can give you a positive vibe about your brand in the market.
Moreover, you can use the device or new tech to locate the consumer exactly in the shop and send the relevant marketing message base upon the service or product that is near to them. It will prove to be a millstone for businesses, and you can earn more trust from users.
#2 Data-Backed Decision Making
Peter Drucker “If you can’t measure it you can’t manage it.” to make sure that each function is performing well at their level, you require numbers to relate with the high benchmarks. Leveraging the power of digital provide you the authority to track metrics and analyze the collected data during the time. On the basis of this precise and timely insight, businesses can optimize their plan and process for an even greater outcome. It can bring huge changes in two specific things which require most – costs and revenue.
in order to get consumer’s behavior patterns, relevancy, real-time feedback, and others, data-driven requires. This can be attained by utilizing structured (Personal customer information) and unsaturated data (Social media metrics), which can be filtered out from a large amount of data. For instance, A customer on weekends and looking for a product that you sell, if you get them and you send a message about that product, they are going to buy it. In this way, you can build a bond between you and your customer
#3 Easier Collaboration
Digital transformation makes it easy to get the exact information at the same time, which eases the work environment and productivity. Enabling businesses to overcome “us vs. them” mindset, transformative tech can become a major mover of smooth collaboration.
Digital transformation makes sales and marketing more operative and effective. A salesman team can get a list and the marketing team can unitize those lists of data to draw insights and make a strong plan about the targeted users. Just like CRM Tech which can track historical client data related to interaction and interest.
The only way to enter the unexplored market is to get new users. It starts with identifying the area and dividing it into a sperate section according to market place the new products. Moreover, if this is supported by sound data analysis and immediate access to demographic elements, the entire process of market penetration can become Hassle-free, which is great for your business
#4 Helping employees to be more effective
Workforce engagement has become a hot topic. Employers are exploring new ways to improve productivity; here digital tech is helping employees to become more effective in their own roles. Transformative technology offers a valuable opportunity for the main business function like finance and HR, to get away from manual and automate areas like payroll, offer wider business opportunities. Today a lot of employees are working remotely and giving better products rather than being at the office, it is possible because of digital transformation.