Innovation / Technology
Digital transformation can be defined as the development of a unified platform, consisting of systems and processes that leverage digital technologies in a way that radically shifts the way an organization collects and uses data to influence customer interactions favorably.
Internet of Things (IoT), distributed systems such as wireless sensor networks, the cloud, Customer Data Platforms (CDP), headless tech, microservices, Everything-as-a-Service (XaaS), Quantum as a Service (QaaS)… The potential of these emerging technologies is tremendous. Many of these technologies have become easier to manage, for others it may be more difficult. Understanding how a technology could be a transformational opportunity or on how to customize it to the specific needs of an enterprise.
This is why you need technology experts to make strategic choices based on a balance between innovation and technical debt management.
Digital transformation is critical to the industry. For a long time, unlike other fields, industrial companies have been ahead of the curve in integrating new technologies into their processes.
However, digital technologies are not only a tactical aspect of the production activity, they require an end-to-end approach in order to improve the efficiency and quality of the processes, as well as reducing costs and losses, and finally enabling the creation of innovative products and services. Digital transformation accelerates the time-to-market of products and brings new added value to customers.
To scale and thrive in the age of digital, companies must learn to think about their customers in a completely different way. A winning digital transformation delivers new and enhanced customer experiences. Thus, before launching any digital transformation initiative, it is imperative that companies have in-depth customer knowledge. However, this knowledge should not be limited to gathering data on previous transactions but should lead to a real reflection on the key values provided to customers. Only a genuine, customer-centric attitude will enable companies to stay ahead of the change curve and remain competitive
“90% of CEOs believe the digital economy will impact their industry, but less than 15% are executing on a digital strategy.”
— MIT Sloan and Capgemini
The key challenge, though often overlooked, of Digital Transformation is People. The core of digital transformation is people, they are the backbone of all initiatives.
Nowadays, companies are facing a dual threat: a massive technical and organizational backlog and the accelerating pace of technological innovation and changes. This is why a company’s HR strategy and organization can help or hinder the growth and digital maturity of companies.
The driving force behind a successful digital transformation is the CEO and leadership. The creative aspect of any innovation relies on the people, not the technology. The greatest technology will be useless if it is not adapted to your business needs, only people, and the right data, will allow you to use the right technology as a growth enabler.
Pull it all together
So far we have outlined key areas of Digital Transformation as if they exist in isolation. You need to make them work together.
Without a deep knowledge of each area, it’ s difficult for many business leaders to grasp the full potential of digital transformation. That’s why it’s necessary to have talent in these areas.