How times have changed: the transformation of digital

How times have changed: the transformation of digital

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Technology has come a long way in the past few decades; some would say it’s taken over our lives (and our jobs), yet only 8% of businesses feel they have truly been digitally transformed. The same survey also revealed that another 23% of companies are still considered to be in the early stages of their digital transformation.

What is digital transformation?

Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It’s also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure.

A common threat among many organisations is that of digital disruption: the creative application of digital technologies in different settings and the change that occurs when these new technologies and business models affect the value proposition of existing goods and services. As a result, it is important for companies to be ultra-aware about how disruptive change caused by new technology can be the root cause of global conflict.

That’s often how industry upsets begins — a seed of an idea timed perfectly with the technology to pull it off.

Sue Marquette Poremba identified 9 ways in which digital disruption is being used to: meet business challenges, create new industries and provide better customer care. These go as follows:-

  • Utilising digital enterprise tools for meetings across the globe (i.e. Skype for Business, OneNote, SharePoint, and OneDrive)
  • The growing adoption of the platform economy (i.e. Uber, who own no cars; Facebook, who own no content; and Airbnb, who own no real estate)
  • Replacing older tools (i.e. Office 365 and Google)
  • More effective use of data (big data)
  • Customer interaction (triangulation of customer identities with product IDs, and usage behavior)
  • Improving medical procedures (data and analytics)
  • Integrating the supply network (cloud computing)
  • Real-time visualisation (helps companies to understand at a glance where they’re succeeding and where they need to pick up the pace)
  • Disintermediation (resulting in customers expecting the same interaction from other brands they regularly connect with)

  • There are many well-known examples of digital disruption: Netflix, Uber, Amazon, Ebay, Skype, Spotify, and Airbnb, to name but a few — with each of these being the start of a new era of tech; changing the digital landscape. With some forms of digital disruption running companies out of business (e.g. Blockbuster), when the company chooses to either not embody the changes or ignores/fights them, it is often misconstrued negatively as an attack on the business. However, it can benefit businesses in a number of ways, contributing to their success, if they choose to embrace it.

    Florian Leibert discusses 3 things every company can do to benefit from digital disruption:-

  • Make smarter enterprise technology investments
  • Build an army of technical talent
  • Recognise big data as your most important differentiator

  • 3 things to check out

  • Check out Rob Ferris’s 3 predictions for digital transformation over the next year.
  • Check out Philip Evans and Patrick Forth’s medium post: navigating a world of digital disruption.
  • And finally, check out John Kennedy’s article on 8 industries that have been changed forever thanks to digital disruption.

  • Thanks for reading!


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