Digital transformation is a natural progression from traditional business, one better suited to today’s world. The analytic difference is the play field for innovation, ascendable and agility that are possible in transformation process, now that digital is a part of the mix. Digital transformation has the ability to deal with uncertainty and respond quickly to change, rather than setting long term goals and moving steadily towards them. Digital transformation is not a close ended program, once it has begun, it opens up endless effective evolution.
Digital disruption is changing the world in which we live and work. Unique technologies have conceived new markets that, create new customers and new competitors. The consumers and dark horse are driving new expectations. The speed of change is unlikely to slow any time soon.
To be successful in the digital world, businesses must not only provide superior experiences for consumers, employees and citizens, but deliver on their promises in a better pace, more quick witted way. The opportunities are huge, but only for administrations that understand how far and fast they need to transform.
Digital transformation is enabled and enhanced by technology, but its success story is about much more. It means taking on enterprise-wide change to change an organization’s business and operating models. And it means combining high volumes of data to influence, predict and respond to customer behaviour. All with the objective of assuring clear business outcomes.
In 2019, 40% of IT projects will create new digital services and revenue streams that monetize data. In the customer experience domain, transformative projects will include analytics based segmentation of customers, predictive marketing, personalization and enhancement of touch-points to align with customer journeys. On the operational wing, there will be a greater focus on the workforce with data-driven decision making and, ultimately, data-informed analytics
Understand industry specific opportunities for digital disruption:
Leverage can now be taken by all businesses, digital innovations such as mobility, digital labour, iot, data and analytics. What matters is how they implement them to business challenges. Leverage comes not just from identifying and getting to know the innovations and implementing them, but from using them in new combinations to address specific challenges and thrive in transformation.
Driver: Insufficient access
Patients today want flexibility and choice in how and where they access care and nurturing. Telemedicine allows them to access a immediate care physician or specialist from home. Advancements in e-health records with cybersecurity measures mean that the patient information can be stored securely, shared and accessed.
Telemedicine enhances the customer experience while allowing provider companies to reduce their own operating costs, improve patient outcomes and results, minimize hospital visits, and meet Government rules to lower total cost of care – all critical elements in the industrywide transition to value-based care.
Embracing digital transformation must be driven by much more than a desire to appear on the cutting edge. Instead it should be about harnessing innovation to transform what a business is and how it remains relevant. There is a strong and growing connection between enhancing customer and employee experiences and improving top-line revenue.
Digital transformation helps like-minded people connect, network and grow.