The concept of digital transformation is not new, but it is becoming more relevant as enterprises and startups look for ways to evolve their businesses. Digital transformation is moving to the forefront of everyone’s minds—and for good reason. From incorporating a faster and more efficient fleet-tracking technology to application delivery, digital transformation has become a permeating voice in talking about taking businesses to the next level by fast-tracking their time to market, reducing optimization costs, and creating a fluid business model.
Why is Digital Transformation Worth Talking About?
When examining an enterprise structure from a bottom-up perspective, it is easy to see that happy consumers are the foundation of any winning empire. Over the years, consumer appetite for service has grown so exponentially that only few industrial titans such as Amazon, Google, and Apple can satisfy it. Especially for urban consumers, the thought of waiting too long or traveling too far for a product is extremely off-putting. In a Google Consumer Survey conducted by Arise, the maximum wait time tolerated by consumers on the phone in 2014 went from 13-minutes to an astounding 2-minutes or less before they terminate the call. This attitude isn’t going away—and in all honesty, why should it?
Efficiently adapting to digital transformation will help businesses connect with their valuable consumers. For an enterprise to leverage itself to the heights of its competitors and beyond, the enterprise must embrace technology like IoT (Internet of Things) connectivity. Aggregating the massive amount of data generated by devices will allow for businesses to stay ahead of the curve and adopt a whole new engine to help engage with not only the customers, but more importantly, their preferences.
For companies that don’t deal with consumers on a day-to-day basis, being involved in the digital network still has significant advantages. Many companies share similar pain points which seeks answers on how to improve decision-making, productivity, communication, inventory management, asset tracking, and the like. Critically looking at these challenges will reveal that being digitally connected is the answer to many problems. Thus, a busy company that is internally connected with all its compartments will open new doors to optimizing manufacturing and operations.
To read more about the digital transformation, its ties with businesses, the barriers to entry, and its disruptive capabilities, check out our blog here.