Digital business transformation is rapidly changing the way that society lives and works. However, for many people, this term is still an unfamiliar concept. Simply put, this transformation is occurring as businesses combine digital techniques and tools to deliver quality services and products to their customers. It is the effort of companies to renovate business models and ideas in a manner that complements the digital world we live in.
Industries are restructuring. They see how business lines are becoming more blurred. However, one thing is for sure; if you are not switching to digital, your competitors are.
So, what are the elements that make up a digital business? This type of business integrates digital software, services, and assets across digital analytics, mobility, and marketing, to create new products and services and drive growth. In simple terms, a digital business combines digital technologies to help provide solutions for clients in scalable and unique ways.
There are lessons that start-ups and established businesses can learn from, so they can provide their customers with better experiences and outcomes by using digital technologies such as analytics, cloud computing, social engagement and mobility solutions.
It Involves More Than Marketing
Marketing was one of the first ways that digital technology was introduced to businesses, and it is has been effective in creating more customer engagement since its introduction. However, businesses are now realizing that digital business transformation is providing an opportunity that has the potential of being just as explosive for management and daily operations in organizations. As this trend continues, experts predict that future businesses will be fundamentally changed because of the digital revolution.
Mobility is Just One Element of Initiatives of Digital Transformation
Consider this. There are currently over five billion people who live on the planet, and over three billion of these people use mobile technology. There are also around six billion gadgets that are digitally connected. These numbers are projected to double within the next few years. Mobility will drastically change the way that people work, and it is also predicted that the digital economy will see a massive shift in what consumers can do with their mobile devices.
It is about the Outcome
Although there is emphasis placed on the technology surrounding digital transformation, it is more about the company’s outcome. When considering how pervasive this technology is in various aspects of a business, it can be overwhelming for these companies to try to implement and measure success.
Businesses will need to develop a value map that details their primary drivers and the factors that matter most with the organization before deciding to make an investment in digital transformation. The value map should measure outcome instead of activity. In other words, only measure the things that matter.
If you oversee the digital transformation plans for your company, you must listen and observe the eco-system your company already has in place. There are BPM solutions that work with your existing architecture to ensure your digital ev