Digital technology has played a vital role in disrupting the traditional methods across the industries. This has forced businesses to jump on the digital transformation bandwagon, and adopt the new technology for their own good. The transformation has proved quite beneficial for enterprises that have shown the willingness to embrace it. Massive improvements in performance and core competencies translating into inflated bottom line are some of the major advantages of achieving successful digital transition.
Companies aware of this have already initiated the transformation process and are most likely to enjoy the advantage of being the pioneers. The trends in digital transformation are showing no signs abating even in 2017. Some of these exuberant trends are discussed below.
Big data has turned into the game changer for both big and small companies. Rather than depending on inconclusive demographics and to identify opportunities in the target market, firms can utilize Big Data to get loads of precise information about their potential customers. This can be a vital aid in optimizing the sales and marketing capabilities to boost the ROI. A research driven solution can be used to find the solution to almost any kind of problem with Big Data.
When it comes to Digital transformation, enterprises looking to achieve success in global environment have to embrace full-fledged cultural change. By integrating Big data into the core business strategies, firms can make this adjustment in an efficient and easier way. For instance, by implementing the Big data, enterprises can precisely identify the existing behavior of their customers. Based on this, firms can easily predict what they’d do in the future, which can help them to tailor their strategies to match their specific needs. This, in turn, can help the companies in minimizing cost, which otherwise would have been spent on doing something that the customers wouldn’t eventually like. The improved predictability would also help the companies in maximizing the conversions.
Virtual Reality (VR) and Augmented Reality (AR)
Virtual Reality enables a virtual interaction that can very closely match the interaction of the real world. This capability turns VR into an accomplished change process disruptor. By using it in creatively, customer interaction can be taken to a whole new level. The ability to use virtual tools that can help business in transforming the way they did business with their customers forms the crux of digital transformation. This essentially proves the importance of the role that VR can play in the overall transitioning process.
In addition to VR, even AR has proved to be the technology that enterprises can utilize creatively in order to stay relevant and compete. The success of Pokémon GO AR app is one such defining example that proves the incredible potential of AR for business purpose.
However, these technologies are not easy to implement and need a considerable investment of resources. Yet, their massive potential is quite enticing for smart businesses to miss out on them. For instance, using these technologies, firms can extract benefits from these technologies by initiating workplace Gamification. It has already been predicted that in 2017, Gamification could well and truly be elevated into a core business strategy by many modern businesses. Together, both AR and VR can be effectively used to maximize customer and employee engagement, and boost the overall customer experience.
As the number of computing devices that are connected with other keeps increasing rapidly, the near future could see an avalanche of data being generated by them. While billions of them already exist, this number could further inflate in 2017. The incredible capability of IoT to seamlessly connect the digital environment with the physical world offer huge potential. Devices such as home appliances, smart devices, etc., are churning out a huge amount of invaluable data that can be converted into useful info to be constructively used in optimizing various business processes. The incredible amount of data can also offer some vital insights about the environment in which these connected devices operate. These insights can be quite useful in instigating fundamental changes in the way the businesses currently operate. By being able to drive innovative changes that could lead to efficient enterprises, IoT can play a vital role in the process of digital transformation.
Artificial intelligence (AI)
AI is an explicit extension of the combination of results offered by IoT and Big data while pursuing digitization. As the connected devices would produce an explosion of data, artificial intelligence would be essential in understanding and convert this data into meaningful info. By connecting the devices, even the information generated from it would also get connected, and AI would be the critical factor in ensuring this link up. Human minds in collaboration with AI could well be able to solve the intense complex issues that could arise from the rapid transition. The ever-increasing chunks of data are being categorically segregated into logical modules of information by innovative AI tools to churn out actionable intelligence. Furthermore, AI is being successfully used in digital transformation to enhance customer-centric experience, apart from achieving business acceleration to maximize profits.
- Digital transformation can ensure considerable improvements in performance and core competencies of an organization, which can be translated into inflated bottom line.
- Some of the major trends in Digital transformation such as Big Data, IoT, AI, etc., would continue to magnify their importance in 2017 as well.