Digital transformation is the process of using new technologies to improve or reinvent business processes, products and customer service. It aims to increase competitive advantage and foster an agile culture. It’s an ongoing effort, requiring an ongoing commitment and budget, but one that delivers significant benefits to businesses that get it right.
Companies today need to keep up with rapidly evolving customer expectations and technological innovations. Customers expect to be able to conduct their business, do their work and live their lives on the devices of their choice, at any time and with the information and personalized content they need close at hand. They’re also looking for innovative experiences from brands that they can’t find elsewhere, and will move on quickly to others if they aren’t satisfied.
Successful digital transformation projects require a clear framework and key performance indicators (KPIs) that are aligned with business outcomes. The best way to ensure that projects stay on track is by leveraging an operating model that supports cross-functional teams. This requires a technology infrastructure that allows for seamless data sharing and easy integrations between platforms so that employees can access and use all the tools they need.
The most effective way to build this bridge between information silos is by building a unified view of the customer. This allows for more precise customer targeting, and maximizes the potential of new technologies like AI. As such, it’s an essential step for any organization embarking on a digital transformation journey.