What are the key factors that affect Digital Transformation?
1. Strategy & Culture–
Strategy plays a crucial part in setting up a high-performance Digital Business. It drives focus and direction. If an organization doesn’t have a solid culture, there is a significant impact on the strategy. A business can thrive only when culture built and managed as part of their strategy. This will hence contribute to a complete Digital Transformation.
2. Staff & Customer Engagement–
Staff and customer engagement is imperative to convey the right message with change management. We know that change is inevitable but only through better engagement we can overcome the resistance from employees and customers. There should be lucid communication between an organization and its employees about how decisions are being made for change, how it plans to engage with its customers and what are the plans for design and innovation.
3. Process & Innovation–
Improving process gives a business an edge to perform better and become efficient. Process and Innovation must undergo changes to evolve. Every industry and business are a part of Digital Transformation. To remain competitive, businesses must adapt to the rising market demands which are achieved by transforming their processes and business models through digitization.
4. Technology-
Even though with the use of technology a business can considerably improve their process and function, they must understand that competitive advantage can be established through strategies designed by the leaders. They should not utilize technology just to replace an existing service but to make that service enormously better.
5. Data & Analytics-
As the amount of information shared on the internet increases, the data also explodes. The date can be gathered from various social media posts, credit card transaction history, and through the devices that are connected to the Internet of Things. To become a high-end Digital Business, it is vital for organizations to use a massive amount of data and analytics which enables them to decide, experiment, and advance in the digital generation.
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