The Impacts Of Digital Transformation On Companies
Digital Transformation: In the last two decades, a lot has changed. If you were born in the 90s, you might remember dial-up internet, floppy disks, and the famous fax machine.
Nowadays, thinking about it, it seems that these things are light years away from us; after all, smartphones and smart TVs quickly took over the world. All these changes and technological advances are due to the digital transformation, a revolution that is currently happening. Its impacts range from people’s behavior to companies and organizations.
Therefore, it is essential to understand this concept. After all, you won’t want to be behind everyone. In this article, we will talk a little about:
- What is digital transformation?
- Why is digital transformation necessary?
- How are companies becoming more digital?
What Is Digital Transformation?
Digital transformation is not simply adding new technologies to our daily lives. It is a process of disruption in society that affects culture, consumption, and interpersonal relationships.
In the Digital Age, things have gotten faster, the volume of information is infinitely greater than before, and people are more impatient and demanding. This all signals that this transformation has a substantial impact on our behavior.
In a way, technology has made our lives easier and has innovated in areas such as medicine. Thanks to digital transformation, more lives can be saved. However, there are some challenges, such as that many companies find it challenging to implement this mindset.
Why Is Digital Transformation Necessary?
Research shows that 67% of the shopping journey is done digitally. In other words, your digital strategy has become more critical than ever. User experience is one of the most critical factors in the shopping process. Therefore, if your company fails to invest in digitization, it will become obsolete.
Thus, it is necessary to take some measures to accompany this revolution. Your product may not be technological, but you will only be able to sell well if you have integrated digital into the way your business works. It’s not for nothing that startups are so successful.
How Are Companies Becoming More Digital?
New technologies appear all the time. So, it is essential to always be up to date and constantly invest in innovation. But what exactly to invest in and what to change within your company?
We will cite below some examples of technologies and processes that many businesses are betting on amid digital transformation.
Internet Of Things
The idea of the internet of things is to connect household and everyday objects to the internet, allowing them to exchange data and become automated. All of this contributes to a more digitally integrated experience.
A good example is the Genius Smart Lock, a smart lock that makes it possible to unlock doors using a smartphone. Google Glass, a glass that interacts with things in augmented reality, is also an example of the internet of things.
Artificial intelligence is a technology that learns from human behavior and responds to it accordingly. Countless companies invest in AI programs to create 100% personalized consumer experiences.
Want an example? Google has already invented a virtual assistant that performs everyday tasks according to a command, such as calling someone, playing Spotify songs, and even talking to the user. It sounds like something out of a science fiction movie, but it’s reality.
Have you ever heard of blockchain? This technology has revolutionized security in exchanging coins and data between people and institutions, so it is one of the principal investments among companies.
It is nothing more than an accounting book that records a virtual currency (the most popular being Bitcoin ) as reliable and immutable. Transparency is one of the main attributes of blockchain.
Virtual reality is also worth mentioning. It consists of a fully immersive 3D digital experience, which can revolutionize the way of doing digital marketing and consuming products.
Real estate companies have already conducted marketing actions at fairs using virtual reality, such as visits to decorated properties through a 360º virtual immersion.
How To Implement Digital Transformation In Your Business?
We have already covered the various technologies that can be integrated into your service. However, how can you change your internal processes to put this into practice? Let’s see step by step next.
Rethink Your Processes
Due to tradition and custom, your company’s processes and operations may be already out of date. Therefore, rethinking them in a digital landscape is critical.
Analyze your product cycle, sales procedures, and other operations. Can any of them be automated or transferred to mobile? For example, several fast food companies allow on-site purchases through self-service totems.
Start With The Organization’s Internal Culture
First of all, you also need to think about your organization’s culture and internal marketing because it is useless to create bold plans for your customers if your employees and stakeholders do not believe in your ideas.
So, the idea is to start by digitizing your business from the inside out. How does the organization communicate with its employees? Can you further digitize this process? Does your company have digital tools that help manage teams, tasks, and relationships?
Digitize Business Intelligence
One of the most critical steps to developing a digital transformation in your company is to use special tools to facilitate your decision-making.
Using Big Data and Business Intelligence, you can predict scenarios, understand your consumers’ behavior and process a large volume of data and information relevant to your business. That way, you can make decisions much more correctly and accurately without taking risks. Your chances of success will be much higher.