Digital Transformation Improves Results…As Reported By Businesses!
According to a survey of businesses regarding Digital Transformation (Dx), 40% of respondents reported improved operational efficiency, 35% reported that it was easier to meet changing customer expectations, 26% said Dx improved product quality, and 24% said Dx reduced product development costs.
Digital transformation involves the strategic adoption and implementation of digital technology by a business in order to create new or adapt products, services and/or operations, with the goal of increasing value, innovation, competitive stature, customer satisfaction, and operational efficiency.
‘By creating a technology and skills ecosystem to support change, the business can be more agile and scalable and focus on its clients and competition rather than on the bureaucracy of information and data management.’
If your business is considering a Digital Transformation (Dx) initiative, it is important to understand the real benefits of Digital Transformation as reported by businesses that have embraced the Dx approach to business growth and management.
Adapting to Change
There is one consistent factor reported among the businesses surveyed, and that factor is change. Change is happening faster and in more complex ways than ever before. Businesses recognize that change provides opportunity, but they also know that they must be ready to respond to change if they are to capitalize on these opportunities. By accelerating the Dx process, implementing new and/or streamlined technology and embracing data analytics, artificial intelligence (AI), and cloud data management, businesses can work at a faster pace with more accurate, up-to-date information and provide team members with the tools they need to stay on target, on schedule and on budget.
Businesses engaged in Digital Transformation (Dx) are using this process to review, modify and improve business processes, approval processes, project lifecycles, and other day-to-day team and individual tasks. Using technology, these businesses are innovating for agility to encourage creativity and engender a competitive advantage with sustainable, solid operations processes, including supply chain, production, purchasing, market research and analytics, etc.
Continuous Improvement Strategy
Whether the team member is a CEO, a CIO, a middle manager or a team member, the use of Digital Transformation (Dx) to leverage technology and analytics for continuous improvement is an important approach. Businesses can reduce operating expenses and introduce new ways to work, using technology and A.I. By embracing Dx change and moving the organization forward, the business builds a foundation for future change and to support agile adaptation and resource management. While many businesses see technology investment as ‘nice to have’ but expensive, the cost to the organization of falling behind is much steeper. By creating a technology and skills ecosystem to support change, the business can be more agile and scalable and focus on its clients and competition rather than on the bureaucracy of information and data management. Building and supporting data democratization and a workforce with solid technical tools and skills, the business can ensure that the culture and the technology infrastructure are aligned and can work seamlessly. It can support remote work strategies, expand locations, engage partners and work and collaborate across time zones, etc.
‘If your business is considering a Digital Transformation (Dx) initiative, it is important to understand real benefits of Digital Transformation as reported by businesses that have embraced the Dx approach to business growth and management.’
Let us help you develop and execute your Dx strategy. Take a look at our White Paper for more details on the factors to consider in planning and deploying a Digital Transformation (Dx) initiative: Preparing Your Business For Digital Transformation And Data Literacy. Be sure that your Digital Transformation (Dx) Strategy Encompasses Other Aspects Of Your Business Environment like enterprise culture, etc. Let us help you get started with a Digital Transformation (Dx) initiative.
Original Post : Businesses Report Improved Results from Digital Transformation!