According to the latest Harvard Business Review study, nearly $1.3 trillion was invested in digital transformation in 2018, yet a large percentage of that spending ends up being wasted initiatives by companies that fail, because they aren't truly ready for change. .
Digital transformation is not only about investing capital, but rather about developing strategies, implementing and addressing challenges and opportunities associated with it. Experience and skills related to digital transformation are essential to the strategic plan of all companies and institutions.
In this article, we will learn about the importance of the digital transformation of the industry, as well as the impact of the means of communication on digitization.
What does digital transformation mean for the industry?
Digital transformation is the application of digital capabilities to processes, products, and assets; To enhance efficiency, increase customers, manage risks and introduce new revenues, this global transformation involves the adoption of digital technologies for internal and external operations; Including sales, marketing and support efforts, it is imperative that companies fundamentally change the way they operate, be willing to embrace cultural change and rethink their status quo as digital transformation enters the industry.
Digital transformation is the application of digital capabilities to processes, products, and assets; To enhance efficiency, increase customers, manage risks and introduce new revenues, this global transformation involves the adoption of digital technologies for internal and external operations; Including sales, marketing and support efforts, it is imperative that companies fundamentally change the way they operate, be willing to embrace cultural change and rethink their status quo as digital transformation enters the industry.
Digital talent and capabilities are key to transforming and exploiting new business strategy opportunities. Businesses need unlimited and fundamentally adaptive human systems to thrive in an ever-changing world. In addition, companies must stop viewing their applications, infrastructure, and people as independent entities, and move forward with their vision as They are comprehensive, and considered as interdependent systems give rise to the term fifth generation industries.
Know that the customer is the core of the strategy. Nowadays, personalization plays a big role in consumption. Because producing the same thing for everyone is no longer a success. Products must adapt to meet customer needs. Only in this way will companies attract customer attention, encourage digital transformation and build customer trust, in addition In addition, modern tools such as artificial intelligence and cross-device connectivity allow companies to automate product allocation and even run tasks remotely, keeping key sectors running and being able to control production systems virtually.
Digital transformation in companies and industry
Technology not only improves people's lives, but also facilitates work in many sectors, because digital transformation helps organizations keep pace with customer requirements, and thus ensures the company's continuity and confirms its ability to face the future, as well as allows companies to compete better in an economic environment Constantly changing, as a result of responding to technological developments, sound management of digital transformation in companies provides the opportunity to reach operational and productivity advantages.
Technology not only improves people's lives, but also facilitates work in many sectors, because digital transformation helps organizations keep pace with customer requirements, and thus ensures the company's continuity and confirms its ability to face the future, as well as allows companies to compete better in an economic environment Constantly changing, as a result of responding to technological developments, sound management of digital transformation in companies provides the opportunity to reach operational and productivity advantages.
The post-pandemic situation in which we live is heading towards a digital transformation mentality, and it is expected that the companies that will succeed soon will be those that create smart experiences and customer journeys that facilitate or complement people’s lives, and the companies that will fail are those that do not seek to benefit from new artificial intelligence technologies, nor of data to forecast demand and market trends and make decisions that improve the workforce.
Benefits of digital transformation in the industry
Digital transformation in the industry provides an opportunity to combine practices and ways of doing so, and result in new technologies, skills and sources of income. Here are some of the main benefits of digitalization:
Digital transformation in the industry provides an opportunity to combine practices and ways of doing so, and result in new technologies, skills and sources of income. Here are some of the main benefits of digitalization:
Reduces costs due to saving time in operations.
It decentralizes production by facilitating mobility and remote communication.
Improves operational efficiency and productivity.
It opens the door to new business opportunities and revenue streams, enabling the creation of new products and services.
Increases the speed of response to changes in demand.
Generates a competitive advantage for the company through its ability to improve the quality of manufactured products.
Driving a culture of innovation, preparing companies to anticipate disruption.
Improves internal integration and collaboration by facilitating communication between departments.
Decision making can be made through deep analysis of big data.
Attracts new talent, enhances exposure to systems and awakens interest in subject matter professionals.
Digital transformation is a window to the future
Digitization transforms businesses and gains unique competitive advantages, but companies start to hold back when it comes time to change their current business models, according to a study conducted by Gartner, 79% of corporate strategists claim that they are digitizing their business to create new revenue streams, but the change has been slow To date, less than half of the companies that claim to have transitioned to digital place their digital initiatives at the core of their strategy.
It decentralizes production by facilitating mobility and remote communication.
Improves operational efficiency and productivity.
It opens the door to new business opportunities and revenue streams, enabling the creation of new products and services.
Increases the speed of response to changes in demand.
Generates a competitive advantage for the company through its ability to improve the quality of manufactured products.
Driving a culture of innovation, preparing companies to anticipate disruption.
Improves internal integration and collaboration by facilitating communication between departments.
Decision making can be made through deep analysis of big data.
Attracts new talent, enhances exposure to systems and awakens interest in subject matter professionals.
Digital transformation is a window to the future
Digitization transforms businesses and gains unique competitive advantages, but companies start to hold back when it comes time to change their current business models, according to a study conducted by Gartner, 79% of corporate strategists claim that they are digitizing their business to create new revenue streams, but the change has been slow To date, less than half of the companies that claim to have transitioned to digital place their digital initiatives at the core of their strategy.
We live in a digital, global, hyper-connected world, characterized by the speed of change on a social and technological level, where the constant appearance of new companies in the markets, off-site mobility and constant communication make a significant impact.
Digital transformation is no longer an option today, as companies get out of the comfort zone, rediscover themselves, and compete in this world besieged by technological progress is very natural and necessary.
Social media and digital transformation
Digital transformation, or the use of technology to improve an organization's performance or success faster, is a widespread strategic initiative for many organizations today, and heightened competition, rapidly evolving technologies, and pressure from consumers are forcing companies to operate, promote, and produce with more flexibility and creativity than ever before.
Digital transformation, or the use of technology to improve an organization's performance or success faster, is a widespread strategic initiative for many organizations today, and heightened competition, rapidly evolving technologies, and pressure from consumers are forcing companies to operate, promote, and produce with more flexibility and creativity than ever before.
Executives across all companies are working digitally to get ahead, and one powerful way their companies are accelerating digital transformation is by leveraging social media.
The commercial value of social media in digital transformation
84% of corporate executives rely on social media, and you can't
84% of corporate executives rely on social media, and you can't
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