As the Internet of Things (IoT) begins to reshape every aspect of our lives, businesses everywhere are beginning to understand the enormous impact digital transformation can have on the future of their organisations. 96% of companies see digital transformation as being critical to their development - so it’s clear that the impact will be widespread, no matter what industry you’re in. Whether you’re planning a full overhaul of your infrastructure or investing in new technology as and when you need it, having a comprehensive strategy in place will ensure you can always stay ahead of internet trends.
What is digital transformation?
Digital transformation is defined as ‘the change associated with the application of digital technology in all aspects of society.’ While digital transformation can be applied to any industry, in business terms it usually refers to the process of a business significantly changing its operations in order to take full advantage of the benefits of digital technologies. With digital organisations making sales at up to 5 times the scale of traditional sale and operations techniques, digital transformation is definitely not something that your business can ignore.
Perhaps the most well-known example of digital transformation in business is Uber - possibly the most recognised taxi service worldwide, and they came out of nowhere. It has dominated every other taxi service in the world where the city will let them compete. They deployed almost two times the number of drivers in London than Black Cab. In only five years, Uber has done twice what Black Cab took 70 years to do. Uber doesn’t even own any cars. Instead, drivers utilise a shared technology platform to connect with potential riders. That is the power of Digital Transformation! Mobile systems like Uber takes advantage of digital transformation by relying on an app rather than a centralised, physical team. Ultimately, these steps towards change are beginning to reshape the way we think about technology and the ways in which it can benefit commerce. So what do you need to keep in mind when preparing for the digital transformation?
A new way of working: identify your objectives
One of the instantly attractive benefits of the digital transformation is the business opportunities it can offer your organisation, in terms of both your team’s collaboration and the customer engagement you can develop. Because of the sheer number of possibilities this creates, having a clear digital transformation strategy highlighting your goals will optimise the manner in which you affect changes. Perhaps you’re aiming to dramatically increase your customer engagement, or give your workforce a tech-education; a strategy that defines every objective you want to achieve will mean you can realise your goals of digital transformation more easily.
Making a great impression: focus on customer experience
Perhaps the most positive thing to come out of digital transformation is the unprecedented level of customer engagement it can achieve. Think about the ways you most prefer to consume data. Whether you’re food shopping from an app on your mobile or receiving a personalised video with your emails, tailored interactions can make all the difference when it comes to regularly engaging customers. The data the tools and technologies within digital transformation collects makes for a far more efficient way of analysing customer experience than ever before. This gives you the chance to revolutionise the way your business markets to, and then retains and grows customers. By keeping on top of this data, your digital transformation can enable you to reach a wider audience than ever before.
Staying ahead: train your team
Ultimately, digital transformation is driven by people. The unpredictable nature of the transformation means it’s imperative your workforce is prepared for whatever comes next. Introducing technology talent into your team is vital for future-proofing your business’s digital lifespan. Whatever industry your business is in, upskilling your existing workforce will not only make them more prepared to take on the emerging trends within digital transformation, but will also encourage greater productivity and contentment within your team. Forbes found that opportunities for learning about digital growth meant employees felt happier about working for their organisation,demonstrating how digital transformation has the ability to alter your business’s mindset, as well as its output.
Flexibility and fluidity: be prepared to re-evaluate
No matter how expert your knowledge of tech, it’s clear that digital transformation is moving at an unpredictably fast rate. The Buckminster Fuller Knowledge Doubling Curve suggest exponential learning. Before 1900 human knowledge doubled about every 100 years. By the end of WWII it was doubling every 25 years. Digital transformation and IoT is predicted by IBM to lead to Human knowledge doubling every 12 hours. It’s very powerful to say the least, and we’re moving into very dynamic times. In order to stay ahead of the next big Internet breakthrough, your strategy needs to have the ability to evolve. It’s also worth noting that the flexibility of digital transformation itself means something slightly different to each individual business implementing it, so your strategy should reflect the objectives you want to achieve, as well as the steps you can take to plan for the future.
At CIS, we take the changing nature of emerging trends in our stride, creating optimised strategies for your business which prepare you for the future. Contact us for strategies that make the most of the digital transformation revolution.