5 Trends to Follow in Digital Transformation

Adopting state-of-the-art technologies is key to any organization’s growth as it opens new doors for improvements. Moreover, the impact of the recent pandemic has pushed every industry to look out for new digital trends rather than just maintaining existing systems. This article speaks about the top 5 digital transformation trends that have the capacity to further improve your business.

Businesses are forced to re-evaluate their strategies and made to bring new changes for staying relevant and strong. This can be due to several reasons including cutting-edge innovations, rapid change in trends, the ever-improving demands of customers, and most importantly the pandemic. Though all these factors play a huge role, the developments in digital transformation?decide the market size and bring impactful changes.

More than 50% of digital transformation initiatives are introduced because of market pressure and profitability.

Hence, the necessity for companies to bring in digital transformation has become a critical part of future goals and business growth. Before we get into the top digital transformation trends, let’s quickly get through the basics of the concept.

What is Digital Transformation?

Digital transformation is the process of integrating new technologies to bring changes in the way an organization works and delivers to its customers. The main intention of this practice is to adopt the latest technologies for building effective business models that reflect on the company’s revenue.

Though digital transformation sounds interesting it is not an easy process to welcome as it comes with its own challenges. A company that undergoes digital transformation will need to alter its organizational culture, ways of working, and business operations. However, the business models brought into action for efficiency and growth can do wonders and keep you on track in the modern digital environment.

What are the Top 5 Digital Transformation Trends?

1.?Total Experience

More than 50% of large organizations are set to use total experience for new business models that will help them achieve big goals.

The future looks bleak for businesses that don’t concentrate on improving customer experience. A total experience strategy is a trend that combines user experience, employee experience, and customer experience for overall business growth and branding.

A successful total experience implementation would require businesses to consider the user expectations and needs at every step. Updated data and technology must be used to provide personalized experiences and tailor marketing efforts. Feedbacks and reviews are important for this and a strong online (social media/ website/ apps) presence can effectively improve customer satisfaction.

2.?Augmented Reality Cloud (AR Cloud)

An ABI research states that “AR Cloud will disrupt the complete AR value chain, predicting growth of US $102 billion by 2024.”

Tech industry giants like Apple, Facebook, Amazon, and Google are actively investing in AR cloud technology and taking their businesses to the next level. Augmented reality cloud helps in creating AR content in real-time for interactions and experiences from anywhere. Cloud-based servers are used to store content and are streamed on the user’s device without downloading content.

The success of this technology is more dependent on the growth of 5G, which is another digital transformation trend we have spoken about below. If everything falls in place for the implementation of the AR cloud, there can be a potential revolution in the way collaborations and communications happen.

3.?Blockchain?and Decentralization

Blockchain could help achieve a global GDP of $1.76 trillion by 2030

Though blockchain technology is more related to cryptocurrency today, it can be used in several other industries besides finance. Many organizations are finding the advantages of decentralization and trying to incorporate it for high performance and security.

This technology can be used to manage supply chains, transactions, and contracts that are of high priority. The biggest advantage of using this technology is reliability and safety which are very valuable now and in the future.

4.?5G

By 2030, more than 1,000 business and government organizations will have deployed private 5G networks, according to Technology Business Research, Inc.

If we have to confidently say one technology that will transform the future, then it is 5G. Because 5G is already in use, all telecom providers are planning their future moves according to it. The telecom industry and other digital transformation trends depend on the availability of 5G technology.

Investing in 5G network infrastructure will largely complement cloud service providers to increase performance and provide innovative services. The use of 5G can accelerate all transformations in the digital world and make services and experiences better than ever.

5.?Everything as a Service (XAAS)

?71% of companies report that XaaS now constitutes more than half of their company's enterprise IT, according to a survey by Deloitte.

Everything-as-a-service, also known as Anything-as-a-service, is one of the several latest digital transformation trends that provides a combination of products and services as a single package. Some of the services other than SaaS, PaaS, and IaaS that come under XAAS are,

1. Function as a service (FaaS)
2. Security as a service (SECaaS)
3. Storage as a service (STaas)
4. Containers as a service (CaaS)

Companies can choose to subscribe to a wide range of services delivered via the cloud and this lets them be more flexible and cost-effective. The popularity of XaaS is increasing in recent years as it proves to be very useful for small companies and companies without proper resources.

Conclusion

Organizations that start to strategically plan their business must always keep the current digital transformation trends in mind. The goals and plans must include and align with the technologies that are set to shape the future so that you always stay competitive. Implementation of emerging digital transformation technologies can be challenging but the right mindset can make it intriguing and successful. Hence, employees must be encouraged and guided in a direction where they start to embrace new technologies in the organization for significant developments.