Zero Digital Mindset is the main culprit !

Over 91% Indian organisations are not ready for Digital Mindset. A part of the reason is their inability to recognise and interpret digital in the form of intelligence. Unless organisations recode themselves in terms of both internal goals and external realities, they will become?obsolete.We?saw 95% brand , companies falling due to this reason.

Introduction to the 'Digital Mindset' and why it's so important??

Digital Transformation is happening as we speak. The internet has drastically changed the way we live and work. The way we consume information, the way we communicate, and the way we interact with each other has all been impacted by digital technology. While the internet has made our lives easier in many ways, it has also created a whole new set of challenges that businesses must grapple with. In order to stay competitive in today's digital world, it's crucial for businesses to have a digital mindset

What is a digital mindset???

A digital mindset is a way of thinking that embraces digital technology and its potential to transform businesses and society. It's about thinking beyond the status quo and looking for ways to use technology to create value.

Why is a digital mindset so important?

?The reality is that the world is becoming more and more digital every day. By 2025, it's estimated that 80% of the global population will be online. This means that businesses need to find ways to reach their target audiences through digital channels. Additionally, as more and more industries are disrupted by technology, it's becoming increasingly important for businesses to be able to adapt quickly to change. Those who have a digital mindset will be better positioned to do this.

95% digital work environment is necessary if you want Digital Transformation?

In order for?a company to successfully undergo digital transformation, it's important that the company has a digital mindset. This means that employees should be open to new technologies and ways of working. The company should also have a work environment that is conducive to innovation and change.

Why analogue companies will eventually give way to digital companies ??

There's no question that digital transformation is taking over the business world. But what's often overlooked is the most important part of this transition: the digital mindset.?

Top Indian companies are leading the way in this regard, realizing that before they can embark on a digital transformation journey, they need to first change the way they think about their businesses. They need to become more digital in their thinking and approach to everything they do.

This shift in mindset is what will enable these companies to fully embrace digital technologies and reap all the benefits that come with them. It's what will make them more agile, innovative, and customer-centric. And it's what will ultimately help them stay ahead of the competition. A few of the techniques I usually use to gain this kind of insight is perceptual mapping.

Perceptual mapping is a great way to identify the difference your customers see in your business versus other?competitors, and?figure out what you can be doing more and less of. It's a great technique that enables companies to paint a more holistic picture of their?brands.I?also participate in one-on-one interviews with senior executives as well as digital leaders at various age groups within the various organisations to build Persona.Persona helps lot building priorities.

3 the top benefits of a Digital Mindset ??

A digital mindset is not only about using technology, but also about changing the way we think and work. It's a shift in our attitude and approach, with a focus on innovation, collaboration and growth.

There are many benefits to having a digital mindset, but here are the top three:

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1. We're more open to change.

With a digital mindset, we're more likely to embrace change and be open to new ideas. We're constantly looking for ways to improve and grow, which means we're more adaptable and resilient in the face of change.

?2. We're more collaborative.

A digital mindset encourages us to collaborate with others, both inside and outside our organisation. We recognise that we can't do everything alone, and that working together can help us achieve more.

3. We're more innovative.

?Digital thinking leads to new ideas and solutions. We're constantly looking for ways to do things better, faster or cheaper. This means we're more productive and efficient, which ultimately leads to growth.

4. We're more people?aware.

A?digital mindset links back to the customer and how their needs are changing. This helps us to develop products, services, communications and experiences that help people – to choose our products because they want them. And get value from them because they've been built for them. To depend on us for support and guidance because we were thinking about what matters to them when we got it wrong.

5. We're data-driven rather than judgement?led.

The statement "We're data-driven rather than judgment-led" emphasizes the approach and mindset of relying on data and analysis to make informed decisions, rather than relying solely on subjective opinions or personal judgment.

Being data-driven means that the organization prioritizes the collection, analysis, and interpretation of relevant data to guide decision-making processes across various aspects of the business, such as strategy formulation, operational improvements, and resource allocation. Data is treated as a valuable asset, and its insights are used to understand patterns, trends, and correlations that can drive more objective and evidence-based decision-making.

By adopting a data-driven approach, businesses aim to minimize the potential biases and errors that can arise from subjective judgment. Instead of relying solely on personal opinions, experiences, or assumptions, data-driven organizations gather and analyze a wide range of relevant information, such as customer behavior, market trends, financial metrics, and operational performance. This data-driven approach helps to uncover insights, validate hypotheses, and provide a solid foundation for strategic planning and execution.

The advantages of being data-driven are numerous. It allows businesses to:

1. Make objective decisions: By relying on data, businesses can minimize the influence of personal biases or anecdotal evidence, leading to more objective and rational decision-making processes.
2. Identify patterns and trends: Data analysis helps identify patterns, trends, and correlations that may not be immediately apparent. These insights can reveal opportunities for growth, highlight operational inefficiencies, or guide the development of new products or services.
3. Validate assumptions: Data-driven decision-making helps to validate assumptions and hypotheses. By testing ideas against real-world data, businesses can reduce the risk of making costly mistakes based on unfounded assumptions.
4. Improve efficiency and effectiveness: By understanding data-driven insights, organizations can optimize processes, allocate resources more effectively, and improve overall efficiency. For example, data analysis can identify bottlenecks in the supply chain or highlight areas where operational improvements can be made.
5. Enhance customer experience: Data-driven organizations can gain a deeper understanding of their customers' preferences, needs, and behaviors. This knowledge allows businesses to tailor their products, services, and marketing efforts to better meet customer expectations, resulting in an improved customer experience.
6. Foster innovation: Data-driven decision-making can inspire and guide innovation within an organization. By analyzing market data, customer feedback, and emerging trends, businesses can identify new opportunities and develop innovative solutions that align with market demands.

However, it's important to note that being data-driven does not mean completely disregarding judgment or intuition. Data should be used as a valuable tool to inform decision-making, but judgment and experience still play a role in interpreting and applying the insights derived from the data. The aim is to strike a balance between data-driven insights and the expertise of individuals within the organization.

Conclusion?

The most important thing for companies embarking on digital transformation is to have a digital mindset. This means being open to new ways of doing things and embracing change. Indian companies are top of the list when it comes to having a digital mindset, which is essential for success in the digital age.?