The 21st century has become the era of digital transformation, because technology has permeated every aspect of our lives. In our homes and our workplaces, throughout industries and society as a whole, technology enables dramatic shifts in how we live, work and communicate.
Wikipedia defines digital transformation as “the change associated with the application of digital technology in all aspects of human society.” In the business world, this shift is often referred to as a digital transformation because technology is bringing about remarkable changes to operations, delivery methods, and customer experiences. Digital transformation is not just a technological change, but a cultural one as well because businesses must be agile while adopting new technologies and tools.
Why Are Companies Going Digital?
Businesses are embracing digital transformation because they must. Technological advancements speed up just like the progressing consumer expectations. By 2020, 25 billion objects will be connected to the Internet. Either businesses have to go digital or perish, because the business that does not keep pace with these changes will lose out to competition. However, businesses today are choosing to stay ahead by keeping up with the pace. In a report titled FutureScape: Worldwide Digital Transformation 2018 Predictions, IDC predicts that spending on digital transformation will reach $1.7 trillion globally by the end of 2019, a 42 percent increase from 2017. Today digital transformation is vital to the existence of any business set up in the profit/ non-profit/ MNC/ public or private sectors. It helps an organization meet the ever challenging customer demands and enables them to evolve faster in a constantly changing digital economic landscape.
Porsche Is Driving Digital Transformation
Porsche has made digital transformation a company-wide endeavor. Rather than task one department with bringing about the change, the company intends to involve every single employee. Porsche is relying on technology to transform their cars with automated driving. It has launched the “Car Connect” app which handles everything from navigation services to real-time traffic information, reading out news to selecting music. All these can be controlled by a touch on your smartphone without physically performing any task. Porsche has created a unique ID for all its customers and gets to know their experiences and feedback both online and in-store. This unique ID also helps in analyzing the product performance.
Pitney Bowes Is Transforming Personalization
Pitney Bowes is using digital transformation to revolutionize the personalization of its customers’ experiences. For example, the company has introduced digital self-service, interactive personalized video, and a mobile-first strategy—all designed to improve the customer’s experience with the brand. Better experiences lead to deeper engagement and then long-term customer loyalty. At the same time, Pitney Bowes is able to collect the data that enables it to further personalize the experiences.
Disney Acquires Other Firms to Jumpstart Digital Transformation
In light of consumer preferences for streaming video enabled by technology, entertainment giant Disney has acquired other companies to advance its digital transformation. Initially, Disney bought BAMTech to access the streaming technology rather than building it in-house. Disney recently spent $52.4 billion to acquire the assets of 21st Century Fox to be able to connect directly with consumers rather than through distributors and advertisers. These assets include some of the most famous characters from Marvel comics and a lot more. Consumer responses to digital progress have driven Disney to transform and strategize itself digitally and in a much more advanced shape. Indeed, this was a smart move to avoid being crushed by other online streaming services.
Rockwell Bridges Enterprise and Experience Through Automation
Rockwell Automation is one of the global leader in industrial automation and has applied the principles of digital transformation in the development of The Connected Enterprise. The Connected Enterprise brings together people, technology, and processes to connect the physical and virtual worlds. It executes demand-based decisions and reduces data congestion to improve operations and judgements.
Digital Transformation at Your Business
These examples are from leading brands, but digital transformation will be required by businesses of every size in the future. It’s inevitable that your own company’s success will depend on the efficacy of your digital strategy. Yet are you poised to make that happen? Probably not. The State of Digital Business Report says 84 percent of companies lack the talent necessary to achieve digital transformation.
In part, that’s due to a lack of technology, but more importantly, it’s due to an ill-prepared workforce. Successful digital transformation requires an agile workforce that is ready to change, reskill and upskill. Digital transformation can be disruptive, however, the training for it shouldn’t be. Fortunately, you can take steps right now to first transform your workforce and then your business. How? With industry-specific certifications that help your employees master the skills and best practices necessary for the digital age. And that employee training does not have to be disruptive to your current operation. Training partners like Simplilearn provide digital transformation training through online and blended learning models that help you upskill your employees and build a digital-ready workforce for your enterprise—while still tackling the necessary day-to-day tasks.
Check out this video on Digital Transformation.
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