The Digital Era in Business Landscape

Today, digital transformation is considered as an inevitable change that industries and businesses are undergoing to meet the desired business growth. This approach, beyond doubt, allows organizations—big or small, traditional or contemporary—to keep the business cost low and customer service high. Amidst the sea of changes, an important fact to consider is that the adoption of leading-edge technologies plays an important role across the processes of digital transformation. Emerging technologies not only assist enterprises to build an agile and responsive digital environment, but also drive them to decisions based on customer-centric data. These data are considered as the crux in the developmental process. The surge of data of all forms, in all mediums, has made the data modeling and analysis the imperative steps in

business growth.

That said, when we think about the digital transformation it is most obvious for us to consider the operational model and business strategies to be involved in the forefront of the process. However, changes occur at all levels during the transformation, human being the key in it at all levels. Hiring new leaders, who are familiar with cutting-edge digital technologies, in the management team is one of the keys to successful digital transformation. Several studies have proved that recruiting digital-savvy leaders in the top hierarchy is more likely to assist enterprises in achieving transformational success. Less than one-third of all respondents that the company has put across their survey to say their organizations have engaged a chief digital officer (CDO) to support their transformations. But those that do are 1.6 times more likely than others to report a successful digital transformation.

Talking about digital transformation, many of us confuse it with the process of digitization. However, there is a huge difference in the processes. While the former is found under the category of automation of existing processes the later may just include the storage of paper data into an electronic database. In order to achieve the desired optimization in businesses, a holistic transformation is the need of the hour wherein the operational upgrade should meet an efficient workforce with talent and capabilities. A combined effort led by leaders and the workforce is meant to bring the transformation process in full force.

In the coming times, enterprises not only will need to foster a digital culture but bring out more innovation in the process to transform the customer experience, encourage collaboration across in-house departments, and consolidate process and operations.

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