3 Building blocks for Digital Transformation
Today almost every industry is experiencing significant digital disruption. Every business is eager to get on this bandwagon and strive to survive. CEOs are facing these biggest questions of how to transform the organization?
Digital Transformation has come as a big tsunami wave, either you can ride it like an expert surfer, or go under and get to the bottom. Companies start the process of transformation but more often fail to integrate across departments and take advantage of intelligence it generates.
There are 3 building blocks to start with baby steps and they are:
Integration, Insights & Impact.
How do you use these 3 building blocks to achieve digital transformation?
Integration: Integrate Organizational data & employees, as digital technologies bring greater connectivity between people and processes.
Acquire an ability to acquire, store, retain & track data about every process and customer. Use the big data as a foundational platform. This ability offers a unique opportunity for a company to become a truly responsive organization offering rapid quality improvement and learning.
Create a transparent repository or sharing mechanism of the efforts undertaken across the company’s different departments. This helps market the successes and boost the morale of the teams.
Insights: that are brought by exceptional amounts of data of business ecosystems from consumers to competitors.
Social Listening: In today’s world it is extremely important to gauge the brand perception by the consumer. This typically involves acquiring basic social media analytics skills giving instant access to online conversations and activities about brands and topics. These reveal opportunities to increase brand awareness and reputation.
Digital Insights: By applying visualization on data from external social conversations to an internal organization which help to optimize operational decision-making
Digital Foresight: By utilizing analytics on top of all the data and integrate these insights at a strategic level. These foresights from consumers, competitors provide an ability to take a corrective course of action on future decisions.
Impact: The Impact relates to the kind of customer value a company can bring by leveraging digital which builds brand loyalty.
Digital technologies like Mobility, APIs, Microservices create a tremendous opportunity to connect with customers.
Driving Engagement: Systematically using digital and non-digital interactions and involvement from customers to increase value.
Leading Disruptions: Use digital technologies to produce a self-generated stream of innovations whereby products and services are continuously improved.
Use these building blocks for taking baby steps in digital transformation. Later apply the strategy, culture, and operation plan to execute without fail.