ONLINE BUSINESS MASTERY: This Book Includes: Affiliate Marketing from Home, Blogging for Income, Digital Automation, Passive Income with Dropshipping. The Complete Guide to Make Money from Home. by Ramsey Robert Dan

Author:Ramsey, Robert Dan [Ramsey, Robert Dan]
Language: eng
Format: epub
Published: 2020-11-17T16:00:00+00:00

Understanding Digital Transformation

At its core, digital transformation is the integration of modern technologies into every area of a business, resulting in a radical change to how an organization operates and delivers value to its customers.

However, digital transformation isn’t just about technology; it’s an evolution of your business, your people, and your culture. It’s a mindset shift that requires organizations to rethink their business strategies, products, and operations. In a way, digital transformation is a business transformation.

The Business Value of Digital Transformation

Digital transformation enables organizations to improve in three key areas of their business: employee satisfaction, client relationships, and innovation. It is so critical to the economic success of a company, in fact, that CEOs are now including digital transformation strategies as part of their overall strategic plans. More than 75% of business leaders surveyed in a McKinsey research study believe that the digital economy offers significant growth opportunities for their companies. What’s more, according to a spending report from the IDC, organizations worldwide will spend over $2 trillion on digital technologies by 2022.

Digital transformation fosters innovation at every level of a business. Through digital transformation, enterprises can offer exceptional and personalized customer experiences in every aspect of the customer journey, which leads to increased brand loyalty and customer retention. The automation of business processes improves operational efficiency and boosts employee job satisfaction, while the ability to collect digital data makes it possible to analyze trends and improve business performance through data-driven decision making.

The rapid development of digital technologies and digitally-driven product lifecycle management processes has accelerated the pace at which organizations deliver new products and services. In the digital age, organizations are required to think outside of the box. New digital technologies provide opportunities to refine existing business models and overcome growth barriers.

Digital transformation benefits all organizations regardless of their size, industry, products or services. While digital transformation for larger organizations is often a lengthy process that requires C-suite buy-in, the result is usually hyper business growth. And for smaller organizations where digital transformation is simpler to implement, the result could prove game-changing, making them far more competitive.

Successful Examples Of Digital Transformation

Digital transformation may feel unattainable. You might be asking yourself, how can my organization guarantee success? While success is never guaranteed, many organizations are already benefiting from their digital transformation efforts. Let’s explore some real-world examples:

Domino’s Pizza — To improve the customer experience, Domino’s developed a digital platform that lets customers place pizza delivery orders online, through mobile apps and even on Twitter. Domino’s is using voice recognition to automate pizza orders made via telephone. Dom, Domino’s AI assistant, can take orders and notify customers where their pizza orders are in the delivery process.

Putnam Investments — Putnam, a provider of retirement services, mutual funds, and institutional investment, has moved many legacy applications to the cloud and is focusing on process automation. Putnam has also created a data science center that uses machine learning to develop more significant business insights to provide better customer service.

Cemex — In 2017, the global

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