A core set of digital technologies — mobile, social, the cloud and data, among others — are transforming companies at both an operational and a strategic level.
Upon committing to digital transformation, the first concern becomes obvious: What are the challenges inherent in digital transformation?
There are four trends driving real change across industries today and I’m sure many of you are experiencing these trends, both as business leaders and also as consumers.
RISE IN CUSTOMER EXPECTATIONS: Companies like Amazon, Zappos and Apple have redefined our expectations for service and speed in retail. This contributes to an overall RISE IN CUSTOMER EXPECTATIONS. So when we shop other retailers or have interactions in other industries, we come to expect that same type of experience.
CONTINUALLY CONNECTED: Customers expect to access any information they need to execute any task from any device. We live in an always-on, always-available world which leads to an expectation of choice and control.
ORGANIZATIONAL VELOCITY: Technology has lowered barriers to entry in many sectors, and has allowed upstarts to come in and disrupt the status quo. Businesses that recognize where change is going and what opportunities arise from it stand to profit most from digital transformation.
DELUGE OF DATA: “Big Data” as the trend is known, however, the real challenge is not in getting the data but in understanding how to process and glean value from that data to foster actionable business insights.
These challenges are not unique to one industry in fact we are seeing them across all industries and a successful digital transformation strategy can turn these challenges into opportunities.
In part one of our digital transformation guide series, Laying the Groundwork for Success, we take a look at the steps necessary for a successful digital transformation. Digital transformations are large undertakings and building a strong foundation is critical to their success. Download the guide today and be sure to check out our other valuable digital transformation assets.