What you do not know about the importance of digital transformation for the industry

According to the latest Harvard Business Review study, nearly $1.3 trillion was invested in digital transformation in 2018.

Blog / Digital
According to the latest Harvard Business Review study, nearly $1.3 trillion was invested in digital transformation in 2018, yet a large proportion of that spending ends up wasting initiatives by companies that fail, because they aren't really ready to change. .
Digital transformation is not only about investing capital, it is about developing strategies, implementing and addressing the challenges and opportunities associated with it, as well as experience and skills related to digital transformation are essential to the strategic plan of all companies and organizations.
In this article, we will learn about the importance of the digital transformation of the industry, as well as the impact of digitization on the means of communication.
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 revenue, 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, ready to accept 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. Companies need essentially unlimited and adaptable human systems to thrive in an ever-changing world. In addition, companies must stop viewing their applications, infrastructure, and employees as independent entities, and move forward with their vision on They are comprehensive, interconnected systems mind that give rise to the term fifth generation industries.
Know that the customer is the core of strategy, where personalization nowadays plays a huge role in consumption, because producing the same for everyone is no longer a successful thing, products must be adapted to meet customers' needs, only in this way will companies attract customers' attention, encourage digital transformation and build customer trust, in addition In addition, modern tools such as artificial intelligence and cross-device communication allow companies to automate product customization and even remotely run tasks, keep key sectors operating and the ability to control virtually production systems.
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 customers' requirements, and thus ensures the continuity of the company 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, proper management of digital transformation in companies provides the opportunity to access operational and productivity benefits.
The post-pandemic situation we are living in is moving towards a digital transformation mentality, and it is expected that the companies that will succeed soon will be the ones that create smart experiences and customer journeys that facilitate or complement people’s lives, and the companies that will fail are the ones that do not seek to benefit from new artificial intelligence technologies, nor of data to anticipate demand and market trends and make decisions that improve workforce.
Benefits of digital transformation in the industry
Digital transformation in the industry provides an opportunity to combine practices and ways to do so, and results in new technologies, skills, and revenue streams. Here are some of the key benefits of digitization:
Reduces costs due to time savings 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.
It 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 interdepartmental communication.
Decision making is enabled by deep analysis of big data.
Attracts new talent, enhances systems familiarization and awakens the interest of dedicated professionals.
Digital transformation is a window into the future
Digitization is re-developing businesses and gaining unique competitive advantages, but companies start to fall behind when it comes time to change their current business models, according to a Gartner study, 79% of corporate strategists claim they are digitizing their businesses to create new revenue streams, but the change has been slow So far, less than half of the companies claiming to have transitioned to digital put their digital initiatives at the center of their strategy.
We live in a digital, global and hyper-connected world, characterized by rapid social and technological change, where the constant emergence of new companies into the market, off-site mobility and constant connectivity are making a huge impact.
Digital transformation is no longer an option today, as companies stepping out of their comfort zone, reinventing themselves and competing in this world beset by technological advancement is very natural and necessary.
Social media and digital transformation
Digital transformation, or the use of technology to improve enterprise performance or success faster, is a pervasive strategic initiative for many organizations today, and high competition, rapidly evolving technologies and pressure from consumers are forcing companies to work, promote and produce with more flexibility and creativity than ever before.
Executives across all companies are working digitally to move forward, 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 they can't

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