Digital Transformation

It is a process of innovation which uses digital technologies to develop new customer experiences, their culture and business strategies or to amend them for better use by meeting market requirements or modified business needs. There are different areas of digital transformation which entails amendments in the ongoing business strategy in order to meet and fulfill new goals. 

  • Domain Transformation
  • Process Transformation
  • Cultural/ Organisational Transformation
  • Business Model Transformation

Artificial Intelligence is the powerful tool in the digital arena as it provides AI-powered chatbots capable of answering customer queries in less time frame. Digital Transformation Strategy is widely used to reposition a business in the digital economy by adopting innovative emerging technologies, implementing operational changes and applying business models.

Various digital technologies are systems, devices, electronic tools, repositories, resources and process data and the main examples are online games, social media, mobile phones  and  multimedia. It is also known as digitization and digitalization. Each phase of transformation produces new opportunities and there is no end to it. It helps businesses to keep on emerging in terms of the economic environment by increasing customer demands constantly in response to technology innovations.

Digitization in Technology World
Digitization in Technology World

Main highlighted areas of Digital Transformations are :

  • Data
  • Process
  • Technology
  • Organizational change

Three essential components of Digital Transformations are :

  • Processes
  • Operations
  • Relationships with Customers   

Digital Transformation Framework :

It is a blueprint which shows the entire process of growth, amendments and developments within an organization with a specified period of time. It is basically a tool used within an organization that will guide all ups and downs journey within an organization. It is easy to develop skills for digital transformation by opting the below steps :

  • Investigating new innovative technologies
  • Develop new plans with the help of customers
  • Propose outgrowth of ongoing strategic plan

Challenges faced in Digital Transformation implementation :

  • Lack of Resources
  • Agility Challenge
  • Lack of vision
  • Lack of Management
  • Budget
  • Organizational Culture
  • Digital Security

From building new digital organizations and assisting associations with modernizing their innovation, to changing organizations through information, examination, and artificial intelligence, McKinsey Digital “conveys high-esteem start to finish business change” and is “a solid match for organizations looking for elite system

The reasons are many, and of course, McKinsey records absence of the management support, poor or nonexistent joint effort across storehouses, absence of representative commitment, and responsibility as a portion of the principal offenders.

Nine Pillars of Digital Transformation are :

  • Digital globalization
  • Enhanced sales pitches
  • Automation
  • Digitizing the businesses
  • Performance management
  • Virtualizing individual work
  • Introducing digital products
  • Customer understanding
  • Customer touch points

Conclusion :

Digital Transformation ought to be at the cutting edge of each organization’s mind, and is characterized as “the reception of advanced innovation to change administrations or organizations, through replacing non-digital or manual cycles with digital cycles or replacing more seasoned advanced innovation with newly designed  digital innovation”