What is Digital Transformation? Understand Everything about Digital Transformation

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Let’s talk about Dominos, our favorite Pizza delivery company.

Did You Know?

Dominos is the first company to launch Pizza Tracker.

It is the pizza tracker technology that allows customers to stay updated related to the progress of their orders.

There was a time around the mid to late 2000s when the company didn’t seem to have a bright future because of the customer experience gap. There were many complaints faced by the company and the stock prices went to an all-time low. It was then that the CEO Patrick Doyle created a focus group and strived to identify what could be done to bring improvements to every aspect of Pizza Delivery.

He identified that there was a strong need for improvement throughout the delivery process and also customer engagement. It was digitization that helped the company solve these problems. The digital campaigns like ‘Oh Yes We Did’ and ‘Anywhere’ proved to be a great success and soon the share prices of Dominos outperformed massively those of giants such as Facebook, Google, Apple, and Amazon.

So, Dominos is the perfect example of Digital Transformation done right!!

Digital transformation is adopted by almost every company to improve their customer experience thereby improving their productivity. IT professionals are in demand everywhere and not just in the IT industry, and digital transformation is the reason.

Whilst every industry is looking forward to adopting digital technologies to improve their productivity, they need properly trained, skilled, and qualified professionals to embrace digital transformation.

This has resulted in a massive surge in the professionals looking for business analyst certification to get into these great careers.

What is Digital Transformation?

Digital transformation is the key strategic initiative that describes the process of implementing the latest technologies, processes, and talent to improvise business operations and satisfy customers. It’s become of crucial importance since the pandemic has shaken the world.

Today companies have accelerated their processes of adopting digital technologies to gain a competitive edge. According to a survey made by McKinsey, around 11% of executives believe that their present business model would be economically viable by 2023 and 64% of the executives say that their companies should adopt digital technologies.

Digital transformation involves incorporating computer-based technologies into the processes, strategies, and products of an organization. Organizations are willing to undertake digital transformation to better serve and engage their workforce and customers to improve their competing potential.

Digital transformation is generally undertaken at a large scale and often involves examining and reinventing almost all aspects of an organization, from workflows and supply chains to employee skill sets and organizational charts, to value propositions and stakeholders to customer interactions.

It marks a rethinking of the ways an organization utilizes technologies, processes, and people in the context of new revenue streams and new business models, driven by modifications in the expectations of customers regarding products and services.

For organizations that are involved in manufacturing traditional goods, digital transformation implies creating digital products as in developing an eCommerce platform or a mobile application. To accomplish this task, they are required to work on the beat of software companies that work on product-based models.

The process of digital transformation is ideally led by the CEO along with CHROs and CIOs as well as other senior members of an organization and requires cross-department collaboration for quick application building models.

Journey of Digital Transformation

The steps involved in carrying out digital transformation in an organization are:

  • Analyze the market trends and look for the position of your organization. Also, try to understand the existing potential customers so that it is easy to bring about the transformation.
  • To project the potential required for digital disruption, it is crucial to analyze where the market is progressing. Also, it is important to identify the ways of being a disruptor rather than being disrupted by others.
  • By conducting external research and internal evaluation, identification of existing and potential value propositions is to be done.
  • It is most important to develop a vision for the position of the organization in the future, that may include the ways of evolution of its products and services to meet customers’ requirements and expectations.
  • Build a roadmap of digital transformation that guides you to move from existing to future state.

This strategic planning requires executives to assess the organization’s existing potential and then articulate the additional capabilities required to devise a plan for carrying out digital transformation.

Goals of Digital Transformation

Digital transformation makes an organization capable of better serving its potential stakeholders including employees, customers, shareholders, and partners.

When digital technologies are incorporated into the functioning of an organization, it helps organizations achieve:

  • Enhanced speed to market with latest products and services
  • Improve employee productivity
  • Elevating responsiveness to requests of customers
  • Enhance customer service, specifically in dispensing more engaging and more intuitive customer experiences
  • Attain more insight into individual customer feedback to better project and personalize products and services

Digital Transformation Technologies

It is the technology that drives the digitization of an organization and the need for digital transformation. Though there is no single technology or application that enables transformation, there are various technologies that are crucial to digital transformation. They are:

  1. Cloud computing
  2. Commoditized information technology
  3. Mobile platforms
  4. Automation
  5. Machine Learning and Artificial Intelligence
  6. Blockchain
  7. AR (Augmented Reality) and VR (Virtual Reality)
  8. Social Media
  9. Internet of Things
  10. Edge Computing

To implement any of the technologies, the organization must understand the way it works and the way it will dispense significant ROIs (Return Over Investments) to its customers to bring about the digital transformation.

Conclusion

Going through the article might have made you realize the importance of digital transformation as many companies have done it right. Examples include Capital One Financial Corporation, Domino’s Pizza, Nespresso, Netflix, and many more.

To bring about digital transformation, companies look for experts who can accomplish the required tasks. You can take up an online training course to make a career in business analysis. These courses make you acquire the required skills and knowledge to bring about the transformation.

Enroll Yourself Now!!

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