What Is Digital Transformation?
Digital transformation is the process of taking existing offline business practices online, in order to gain efficiency.
You can look at digital transformation from a macro and micro perspective. On the macro scale, we can say that digital transformation is “the change associated with the application of digital technology in all aspects of human society.”
This is a lovely description – but it says nothing about specific examples or applicability this orientation can have on business operations and processes.
A micro level definition provides the examples we are looking for. One of the most commonly discussed examples of a digital innovation on business is the departure from paper, which has cut costs and saved time for companies in every industry.
Another excellent example is the automation of processes previously performed by humans through Artificial Intelligence (AI). Today, businesses are expected to have the capacity to interpret the reams of data available to them and turn these numbers into concrete action plans.
Daniel Newman, an expert in the digital transformation space, has predicted the internet of things (IoT) will be the major driving force behind business growth in 2018. The most concrete example of what a business can do to keep pace with digital transformation going forward is to maintain an exceptionally strong analytics component.
Strong analytics means investing in the kind of software that will help you automate research, integrate jobs, and save you money. Analytic software provides the integration capacity to collect and store all the meaningful data your company needs in order to succeed, without the usual added cost of labor and time.
Automation is also an important money saver in speeding up the time it takes for work to be completed. Business Process Automation (BPA) is best seen in the customer service domain, approval management, or the employee onboarding experience – which is often tedious and slow for everyone involved.
Digital transformation is only going to continue to grow, and at a rapid pace, with exciting changes that will permeate every business sector.