Covid-19 has become a digital transformation tool for companies. Organizations have had to respond immediately to the crisis by developing and adopting digital solutions and automating their operations procedures to stay on track. Indeed, the pandemic has hastened the pace of change and the speed of digital transformation, forcing laggards to catch up with the digital leaders. But what exactly is “digital transformation”?
The term “digital transformation” refers to the integration of digital technology into all aspects of an organization, leading to significant changes in the way companies operate and deliver value to customers. In addition, it is a cultural shift that forces companies to challenge the status quo to improve performance, expand the scope and achieve better results. In short, it is a structural change which places technology at the core of the business.
In this article, we will analyze why digital transformation is a valuable asset for companies and how you can trigger this change. Let’s take a look.
Why does digital transformation matter to your business?
Our digital era is reshaping consumer habits, challenging companies to reinvent their businesses to provide customers with good experiences and better meet their demands. Digital transformation gives organizations agility to offer new products and services, manage data, improve customer experience, manage business processes and mitigate risk. Without these digital technologies, a business is unlikely to advance in the marketplace and be competitive. The use of digital tools such as metrics and Big Data can identify weaknesses and strengths, as well as demands and changes in the market. Indeed, data analytics tops the list of priorities, especially in terms of data visualization and machine learning.
However, today, behind the pace of digital transformation there is also the survival factor. Companies that want to succeed must merge technology with strategy to stay ahead of the curve. Speed is also an important consideration. Digital initiatives that foster greater speed and agility for the organization are at the forefront of digital leadership.
Not only does technology drive change in business, but it also translates into one of the keys to business success today. Embracing digital transformation into a business plays a critical role in ensuring a positive relationship between a company and its customers.
How to drive your business towards digital transformation?
It’s crucial to assess different stages and proceed with digital transition in a planned, effective, and strategic manner if you want to propel your company into digitalization. Some successful steps to reach digital disruption are:
- Having digitally savvy leaders.
- Develop skills for a future workforce.
- Providing employees with the tools they need to work creatively.
- Bringing administrative tools into the digital age.
- Maintaining open lines of communication among team members.
These major domains must be considered in order to be successful with digital transformation and have a culture of disruption within a company. Some other factors include developing clear strategies for digital skills and competencies for forthcoming demands, changing the organization’s culture to adapt to the changes, and ensuring open communication to keep everyone on the same page and on board with the adjustments.
Essential technologies to fuel digital transformation
To meet business needs and customer demand, companies use core technology capabilities that enable them to scale and have robust digitization:
- Cloud computing: Cloud computing allows organizations to have faster access to data, software and capabilities. As a result, this equips them with the required agility to transform their business.
- Artificial Intelligence: AI is suited to automate processes, more precisely low-level processes that are conducted continuously at high speed, for instance, the testing of microchips to look for bugs. Likewise, AI can develop intelligent services such as chatbots, which work with natural language processing to analyze the context and execute human-like actions.
- Advanced analytics: Analytics translates data into information. Algorithms can thus be integrated into daily operations, increasing their speed and the accuracy of processes. Analytics platforms have all the stages of an analysis, i.e. from data to discovery and implementation.
- Data management: Data feeds the technologies to make digital transformation possible. To be successful, organizations need to have the access, preparation, cleansing, management and governing data.
We’re here for you
To get the best possible results from digital transformation efforts, it is critical to have the right resources in place to achieve digital acceleration processes. At Applaudo Studios, we align our Data Engineering, Artificial Intelligence, Machine Learning, Data Science and Agile Management capabilities with our clients’ needs to improve their business performance and propel their digital journey to the next level.