For most companies before 2020, Digital transformation was always an essential part of any business strategy.
However, now even businesses with a traditional approach are forced to shift focus on digital transformation as the priority.
This meant industries like banking, financial services, aerospace, information technology, education, and many others had to adopt a more digital approach to make sure they are still relevant.
From working side-by-side to getting on daily standup calls, using a remote cloud repository for creating documents, promoting virtual events, and remote outreach, the year 2020 has seen every industry shift to a more digital workplace.
So are you looking for a digital transformation roadmap or strategic enabler that is ideal for your company?
Here is a quick guide to provide you with the insights you need to adopt digital transformation and how it can help.
–What is digital transformation?
Digital transformation is the use of digital technology in almost all your areas of business.
It requires changing your operations and organizational goals to enable the company to deliver excellence to its customers by leveraging digital technology.
But beyond the cultural changes, it requires organizations to adopt digital practices into their existing business processes and getting familiar with the new adoptions to ensure smooth operations.
More than just a one-time process, becoming truly digital requires the enterprise to reinvent and be open to trial and error.
Companies that are open to change and willing to adopt digital practices to become more future-ready are poised to be successful.
There are immense benefits of digital transformation that can be seen in companies across industries and ranging from all sizes.
Adopting a more digital approach is a crucial requirement now for every company.
–Top trends in digital transformation in 2020
2020 was already the year of radical changes, with the shift in digital strategy of several enterprises to embrace cloud technology, adopt big data governance, and move to a more AI-driven process and analytics.
However, the challenges posed due to social distancing and remote working has made it imperative for enterprises to think about it strategically.
Some of the critical trends for 2020 are:
-Growing data, growing challenges
The shift from mainframe to cloud is mainly due to the exponential rise of data that is being generated.
According to Forbes, there is a creation of 2.5 quintillion bytes of data every day at our current pace, and the limited storage and processing options that mainframes provide will be redundant in the future.
But growing data comes with increasing challenges, for it makes it all the more difficult for companies to extract actionable insights, manage and store data, and implement data governance mechanisms.
This is where digital transformation strategy will play a key role in enabling organizations to adopt processes and culture that is more technology-focused.
Using Big Data, Cloud, and other technology options, enterprises need to create a framework to better manage and gain insights from this data.
-AI & ML will take center stage, if not already
AI is already the most talked-about technology and has seen several industries adopting it to be the frontrunners in their domain.
About 34% of employees feel their jobs will be taken over by AI or robotics in the next three years, according to Forbes.
The rapid growth and adoption of Artificial Intelligence (AI), Machine Learning (ML), and robotics in several business processes are seen as a key to future-proofing.
These technology options help to reduce costs, increase efficiency, and provides a huge ROI, making it integral to most digital transformation roadmaps.
-Cloud adoption expands
This means several of the applications, data management, and analytics, storage, etc. will now be done on remote servers using cloud architecture.
While several enterprises are still trying to understand the security aspects, especially in terms of safeguarding private customer data, cloud providers are stepping up to the challenge.
With updated infrastructure, faster processing, and cheaper costs, cloud technology is very competitive and has seen growing adoption in 2020.
-Mine The Data
Organizations and their customers are now generating a lot more data than they previously ever did; the data is significant only if it can generate actionable insights.
The rising data volume and speeds are only leading to challenges in terms of making sense of the data and creating useful reports or analysis from it.
But with the availability of data visualization tools and analytical frameworks, data is the new oil and the enterprises that mine it are sure to be ahead in the game!
This makes the role of data analyst critical and essential too.
-The long-term focus of digital initiatives is key
While the adoption of technology is one part, being futureproof is a whole new thing altogether.
There is a rising need to make software and platforms agnostic of the operating system, architecture, and other paradigms to create a sustainable environment.
Even today, the range of technology options available for companies are innumerable.
Big Data, Cloud, AI, and others are already the top contenders, IoT (Internet of Things) being one example.
This has made it highly essential for the technical team to work on creating solutions that are agnostic and can have a long-term vision to adopt emerging trends quickly.
Although it may seem easy to hire ruby on rails developer on the offset, staying updated with new technology is tough and requires knowledgeable expertise.
What is the roadmap for adopting digital transformation?
Ultimately, a digital transformation roadmap can be overwhelming with the vast trends and significant adoptions that enterprises need to make.
While culture is just one part, understanding the magnitude of the undertaking can seem daunting.
This is why the top-level heavyweights and management need to be prudent in deciding the value they wish to generate from digital transformation.
Additionally, there are several ways to adapt to a more digital mindset, and enterprises can even opt for digital transformation services from experts to guide them properly.
An excellent digital transformation agency can help companies to incorporate digital technology into their operations to enhance their output and serve customers better.