Digital Transformation(also DX or DT) is not just about adopting technology. It is about value, people, optimization and the capability to rapidly adapt to changing business scenarios through an intelligent use of technologies and information. Therefore, digital transformation leverages technologies to create value and new services for various stakeholders (internal & external), innovate and acquire the capabilities to rapidly adapt to changing circumstances.
When businesses become more agile, people oriented, customer centric and efficient, a positive change occurs, creating new competencies and better work culture.
Analytical tools can help navigate challenges posed by unstructured data sources to make informed decisions.
Digital Transformation efforts and strategies are often more urgent and present in markets with a high degree of commoditization and/or competition.
Some of the key drivers and goals to consider for any digital transformation efforts are:
Any digital transformation initiative must create an ecosystem of holistic and interconnected systems and processes to enable faster and more informed decision making.
Therefore, the roadmap for such initiatives must necessarily include all the business functions within the organization such as Human Resources, Finance, Quality Control, Production, Sales, Marketing, Support etc.
Digital Transformation is a journey (not only a destination) with multiple connected intermediary goals, in the end, striving towards optimization across processes and business ecosystem. It’s a journey that needs a staged approach with a clear roadmap, involving a variety of stakeholders, beyond silos and internal/external limitations.