What is Digital Transformation?
Digital transformation refers to the process of adopting digital technology in a business. Digital transformation not only extends to new businesses but is also a part of the modification of existing business processes, culture, and client experience. Going digital is the need of the hour to meet the ever-changing market requirements. Let’s try to understand digital transformation by taking these examples. Take an instance of bringing artificial intelligence to the place of work in a service organization. This one is a very prominent example of digital transformation. Bots are deployed by many organisations to answer repetitive and simple client queries, and this forms another popular example of transforming business using digital means. Digital transformation is everywhere. Organisations have accepted that being digital is a must. The greater focus of the companies is now on how to go digital.
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Though digital transformation is being adopted by organisations at a very fast pace, certain challenges come in the way when following this path. These include:
- Increasing sales and profit
- Increasing the productivity internally within organizations
- Improve customer experience
- Increasing competitive strength in the industry
Considering the challenges that are unavoidable when paving the path in the journey of transforming digitally, the success of digital transformation depends on the organization to a large extent. Hence, for successful implementation, proper planning and follow-through are crucial.
With the help of this blog, we will try to understand in detail the below-depicted parameters.
- Importance of Digital transformation
- Types of Digital transformation
- Benefits of Digital transformation
- Drivers of Digital transformation
- Stages of Digital transformation
- Pillars of Digital transformation
- Tools and Technologies in Digital Transformation
Importance of Digital transformation
Digital transformation has gained huge importance. The core objective of digital transformation is to improve the current business processes. Digital transformation enables businesses and organisations to remain competitive. The focus on digital transformation is centered around the customer since digital transformation adds value to every customer interface. Digital transformation has changed the way companies view the customer and customer service. Digital transformation enables the companies to meet emerging consumer demands and hence equip the organizations to survive and thrive in the face of the future. One very important benefit that is derived from digital transformation is that it assists in converting the raw data into business insights across various spaces within the business setup. Artificial intelligence is one emerging trend in the process of digital transformation, which is being used to draw meaningful insights from the huge volumes of data getting generated on an ongoing basis within every industry and every business.
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