It’s a new year and a new decade. To say that technology has advanced over the last decade would be an understatement. The ways in which most businesses operate and interact with customers is vastly different to a decade ago. For example, consumers are now able to research their options, understand brands and make purchases all from the comfort of their sofa.
Technology is continually developing, and the digital transformation we’ve seen is only the start of what we expect to see over the coming decade. According to a Harvard Business Review survey, 80% of business leaders believe that their industry will be disrupted by digital and that it will affect 84% of businesses by 2020.
Mobile devices, apps, machine learning and automation are allowing consumers to access what they want when they want it. These digital technologies have caused a shift in expectation, which has given rise to a new, constantly connected, modern consumer. Businesses thus need to rethink how they engage with their consumer base through the use of digital technologies and transformations.
In the same Harvard Business Review survey, 72% said they expect the shift to digital to create closer relationships with customers. What this means is, it’s time to start adapting to advances in technology to find ways of incorporating digital transformation into your strategy.
When considering the scope of the impact of technology on your business, it can be overwhelming to know where to begin, and what changes to implement in order to bring your business up to speed. This is where our Discovery process comes in. We help you think clearly about the kind of data and performance knowledge that would be of most value and work with you to specify the digital solutions that would be best suited to your needs.
Effective digital transformation is always built on a strong strategic foundation that clearly presents the way in which the business creates and delivers value for its customers. It is almost impossible for companies to reach digital transformation without a considered technology plan in place.
There’s a real danger of over-complication when it comes to digital transformation, which often results in a disconnect between objectives and reality. However, a well-defined focus is required to drive the best value and will help you establish a roadmap for digital transformation at the right pace for your business, and will help you get to grips with digital transformation in order to implement its advantages.
While you’re here, you may also want to take a look at our whitepaper entitled What every CEO needs to know about digital transformation. It explores digital transformation and its benefits in more depth. Download the whitepaper now, or contact us to find out more.