Digital transformation solutions are redefining the overall business operations, interactions and service delivery process. Digital transformation is more of a strategy than just technology. Understanding digital transformation requires you to have deep insights on the reasons that necessitate the rise of digital transformation.
The Raising Concern for Handling Data
Businesses are more data-driven than ever, and handling huge volumes of data has been a big concern. In particular, the need to manage data retrieval and storage is growing exponentially, but still must be managed in a secure and automated way. In this digital data race to keep businesses on top of their game, the only solution would look out for digital transformation. This has been providing efficient tools to, conduct secure data transactions, develop data strategies and develop data analytics.
Signifying the digital transformation impact on data, Jen Underwood, founder of Impact Analytix stated that, "The exponential growth of data and intelligent things in an environment of ubiquitous Internet connectivity is enabling a fourth industrial revolution—Digital Transformation of Business”
Game-changers to digital transformation are big data, agile analytics and AI concepts (More specifically, Machine Learning and Deep Learning). These tools are helping businesses get deeper insights into the market dynamics and consumer behavioral intelligence insights, which are key in driving strategic decision process. This way digital transformation tools can make businesses more effective in leaving data.
Service Delivery Efficiencies
Often companies value workplace services the least compared to the client/consumer service delivery. Despite having number digital application to automate the processes, companies are using a lot of manual processes to deliver services within the organization. One such case is an employee's HR case, where both parties must write numerous back and forth emails, wasting their time for simple inquires, like PTO balance and so on. HR departments waste close to 70% of their time attending to these repetitive tasks when they could be automated.
Digital transformation of these service delivery process can be achieved by having intelligent HR automation solutions. (The ServiceNow platform is an industry leader in this arena.) These solutions can increase operational efficiencies of the business, and ensures intuitive experiences in workplace service delivery. Further integrating AI-powered chatbots or voice assistants with service delivery platforms, like ServiceNow, can be a game changer in the overall service relationships.
Getting Freed from Legacy Systems
Legacy systems are the biggest roadblock for big organizations to meet the modern market's needs. As the legacy systems are built on age-old technologies, finding a resource person and updating it to the digital technologies is difficult. This was accepted by 90% of IT decision makers in a research by Hitachi Consulting. Moreover, most of the organizations are concerned about security issues when conducting legacy migration. For example, in complex systems, such as air trafficking systems, conducting legacy modernization can be a risky thing in regards to security.
In such cases, conducting digital transformation clearly demands the precise stating of scope, and objectives of digitalization is a must. To modernize such systems, the best solutions developed is Application Programmable Interface (API). This integration solution enables businesses to bridge the legacy systems with digital efficiencies. This way, the API provides a gateway for the businesses with legacy systems, to leverage digital transformation solutions. (Click here to learn how APIs are helpful for your business.)
Consumer Digital Trends are Driving Transformation
- 51% (as of June 2017) of worldwide population are internet users
- 2.32 billion (by the end of 2017) smartphone users
- 75% internet usage is driven by smartphones
- 2.46 billion are social media users
- App revenue is estimated to be $60 billion as on 2017
- Worldwide E-Commerce sales as on 2017, is 2.3 trillion US dollars
These trends clearly illustrate the impulse raise of digital platforms usage by consumers, change in the consumer behavior and the need for the businesses to re-strategize their efforts to suits current markets behavior. so to win the digital audience preferences and promote their services and products rigorously, the companies are putting efforts like, mobile apps, responsive websites (learn more about Mobile apps vs. Mobile websites,) social media channels, and so on.
Despite all efforts, enterprises are failing to achieve total digital transformation. This is because companies are forgetting the fact that digital transformation is more of a strategy than just a technology adoption. The enterprises need to have clearly defined objectives and scope while planning for transformation. To conduct this planning, the Chief Digital Officer role has evolved.
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