Almost every day, we speak with CEOs who are panicking – literally – about how to pioneer "digital transformation." The media paints a bleak picture of enterprises that must become digital or face extinction. As a result, boards of directors are questioning and demanding adequate responses regarding their firms' digital strategy and ambitions.
Earlier, a stimulus was observed among executives looking to automate their operations with Enterprise Resource Planning (ERP) technologies. The dot-com/ eCommerce economy followed. Following that, cam the Customer Relationship Management (CRM) technologies. Then there was the Cloud, and then, Big Data. And now, after all, that we've seen the corporate world is in the midst of a digital change.
All of these stimulihave one thing in common: they are big, vague, innovativeconcepts that are supposed to mean the difference between corporate flourishing and surviving. Each was so complicated and unknown in their infancy that it produced some measure of distress, fear, terror, and panic. And as we all know, fear frequently results in retorts we regretlater.
True transformation begins with thoughtful and sensible discussion inside your business. Identify a "calming voice" – an outside consultant/ advisor or someone from your company – who can assist your enterprise in collaborating to create its strategy for digital transformation. Here and now, it is not about designing, developing, and deploying a website as soon as possible. Each organization's aim and the journey will be unique. Right now, the most essential activity is to select a profitable starting point. If we manage to do this properly, the next stages will almost certainly become evident.
Another excellent activity is to learn from industry giants like Google and Amazon. Examine what makes them the leaders in their industry and how they innovate. Many firms, for instance, struggle to keep data servers cold, but that has never remained a problem for Google.
DeepMind, the Artificial Intelligence (AI) unit at Google Inc. was enlistedto manage energy consumption for data-centre operations, lowering the energy required for cooling by 40%. If you're wondering whether the Internet of Things (IoT) may help you alter and distinguish your product line, take a look at how Amazon integrates IoT technology in its operations. Leverage these findings to generate some early "big digital transformation ideas" for your company.
While thinking bigis vital, it is also necessary to start small, with sensible, bite-sized digital transformation initiatives that are comparatively modest in scope. Choose an idea that embodies one of the main concepts of digital transformation, such as operating at a faster paceor using data differently, integrate it into your business operations, and you may succeed.