Evolving Role of IT in Digital Transformation

Introduction

Last week we discussed the potential applications of the Internet of Things (IoT). ?Its impact is already being felt across a wide range of industries, including manufacturing, transportation, healthcare, and agriculture. As the number of internet-connected devices continues to grow, IoT is likely to play an increasingly important role in shaping our world and transforming the way we live, work and interact with each other. The vast application and adoption of IoT for business development stresses the role of IT in the digital transformation of businesses.

In this edition, we iron out the evolving role of IT in digital transformation.

Implementing a digital transformation that targets current business challenges and addresses strategic objectives will be crucial to your success. Every enterprise and organization must eventually make digitalization a strategic cornerstone if they want to remain competitive and better serve their constituents.

Digital Transformation

Digital transformation is changing the way in which individuals work, play, and live, and there is no sign that this groundbreaking system is easing back. Developments in digitized innovation keep on uncovering potential open doors for organizations to make new incentives for clients and work on individuals' lives. Digital transformation takes a customer-driven, digital-first approach to all aspects of a business, from its business models to customer experiences to processes and operations. It uses AI, automation, hybrid cloud, and other digital technologies to leverage data and drive intelligent workflows, faster and smarter decision-making, and real-time response to market disruptions. And ultimately, it changes customer expectations and creates new business opportunities.

Digitization, Digitalization and Digital Transformation

Digital transformation?is often confused with two similar concepts:?digitization?and digitalization. The simplest of these, digitization, is the process of transforming information from analog or manual form into digital form—for example, converting handwritten records into computerized records.?Digitalization?is the process of applying digital technology and capabilities to do many of the things you regularly do, but in new and better ways that drive improved outcomes.

Digitalization is the foundation for digital transformation. And digital transformation makes it possible to reimagine how you use your technology, people, and processes to move your business forward in new ways.

Digital transformation, however, is broader than just the digitization of existing processes. Digital transformation entails considering how products, processes, and organizations can be changed through the use of new digital technologies. It is critical for organizations to not only compete but survive. If leaders can’t be clear about what a digital transformation is—and align their organization around a specific program—they can’t expect to be successful.

While many organizations have undertaken a digital transformation in response to a single competitive threat or market shift, it has never been about making a one-time fix. Its goal is to build a technical and operational foundation, to evolve and respond in the best possible way to unpredictable and ever-changing customer expectations, market conditions, and local or global events.

Evolving Role of IT in Digital Transformation

Innovation in information technology (IT) is the process of applying new or improved IT solutions to business problems, like developing a new software application or improving the performance of existing IT infrastructure. It also entails repurposing technology to build a more streamlined business, improving the alignment between technological projects and business objectives. The rapid rise of innovative technologies has led to more intelligent and efficient businesses.

The umbrella of digital transformation encompasses a wide variety of technologies, including applications and software, networking capabilities, AI, machine learning, augmented and virtual reality, the Internet of Things (IoT), sensing technology, video-based analytics, the cloud, and beyond. The important thing to remember about digital transformation is that it’s less about choosing a specific technology and more about choosing the right technology to achieve your desired outcomes.

Digital Transformation and Business Development

Customer expectations have always been the prime drivers of digital transformation. It began when a rush of new technologies made new kinds of information and capabilities accessible in new ways, such as:

·?????? Mobile devices

·?????? Social media

·?????? The internet of things (IoT)

·?????? Cloud computing

Pioneers—disruptors snatched market share from their competition by adopting these technologies to:

·?????? Reinvent business models (e-commerce, electronic delivery).

·?????? Optimize processes (supply chain management, new feature development).

·?????? Constantly improve the customer experience (in-context customer reviews, personalized recommendations).

Competitors adapted to provide even more capability and convenience (or they struggled and maybe even disappeared). Today, customers expect to conduct all business digitally, wherever, and whenever, using any device, with all the supporting information and content they need close at hand.

Digital transformation takes a customer-driven, digital-first approach to all aspects of a business, from its business models to customer experiences to processes and operations. It uses AI, automation, hybrid cloud, and other digital technologies to leverage data and drive intelligent workflows, faster and smarter decision-making, and real-time response to market disruptions. And ultimately, it changes customer expectations and creates new business opportunities.

The benefits of digital transformation

Almost any business in any market can benefit from digital-driven operational improvements that create greater value for customers, employees, and partners. Some of the benefits that digital transformation can deliver include:

·?????? Deeper analytics-based actionable insights

·?????? Faster and more efficient processes

·?????? Increased capacity

·?????? Reduced costs

·?????? Improved safety, quality, and productivity

The opportunity to blend business process change with next-generation automation can deliver greater value and meet changing expectations. Successful companies have transformed to focus on relationship selling over lead generation; on simplifying the purchase process instead of engaging in lengthy negotiations over terms and conditions; and on collaborative success by running technology on behalf of customers instead of licensing technology that customers take in-house to implement and integrate to drive their own success.

Digital Transformation for Business Development- Approaches for Best Implementation

·?????? Solicit feedback from your employees and customers:?Continuous engagement with customers and employees is the only way to understand how you can meet their needs.

·?????? Based on that feedback, define problems to be solved:?Once you understand your customers’ and employees’ expectations, you can assess what you need to do differently.

·?????? Design a strategy that transforms problems into exceptional experiences:?Once you’ve identified your challenges, develop a strategy that streamlines the experiences you deliver, empowers your customers and employees, and delights those you serve.

·?????? Leverage cloud technology to keep pace with changing customer and employee wants and needs:?Look for technology that enables you to not only reimagine your business from end to end but also to outpace change. With cloud technology, you can stay ahead of customer and employee needs and leverage cutting-edge technology as it’s introduced.

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Finally, digital transformation is a long-term strategy rather than a short term. It involves existing technical and cultural change in an organization that leads to the success of a business. There is no single solution, framework, or established roadmap for the digital transformation of an organization that can be accepted universally. It depends on the current state of the organization.? The organization needs to redefine the development methodologies, business processes, and culture as part of digital transformation. It has to be evolutionary, incremental, and iterative.

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