A poor performance in any of the four strategic realms of technology, data, process, or organizational change capabilities may derail a well-planned transformation.
Indeed, putting together the right team of technology, data, and process experts who can collaborate with a great president who can effect real change may well be the single most significant move an organization considering digital transformation can take.
Data, analytics, APIs, machine learning, and other innovations provide businesses with valuable new ways to reinvent processes across the board, to decrease costs, shorten cycle times, and improving quality.
Many executives are unaware of the very real potential for these emerging innovations to open up entirely new markets for their companies outside those serving time.
And it is also this type of transformation that provides the most potential for new value creation.
Digital includes flexible business processes, a preference against testing and training, decisions as a group, and a stronger emphasis on market ecosystems, according to best-in-class companies.
Experian, a consumer credit agency that has undergone one of the most promising digital transformations, restructured its organization by incorporating agile growth and teamwork into its workflows and directing a company-wide shift in workforce focus from hardware to data.
Efforts made in the first step of digital transformation to integrate consumer data through storage facilities and recognize customer behavior were becoming standard in customer experience.
Members are also seeing how operational efficiency can go beyond rear productivity to allow interactive consumer experiences and business models that rivals can’t duplicate.
This digital capability transition is taking place in three areas: core process optimization, interconnected and complex operations, and information decision-making.
As a result, businesses have started to place equal emphasis on the workplace culture as they do on the customer experience.
Companies must also develop agility into their talent procurement processes to adapt to fast-paced digital opportunities and threats.
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