The digital world is a rapidly growing industry, however it is not a new concept and has been around for a while now. Companies are slowly integrating these new concepts into their work. There is also still a ton of work that needs to be done.
Several organizations are making endeavors into the different integration processes for business and customer engagement digitization. Having digital transformation be so prominent as it allows for the use of technology and other digital tools to expand the initial processes. Digital technology has been blended into different departments within a business and has changed the way they function.
There are a handful of companies who have seen more progress than others during the digital transformation process. Regardless, most companies are actually still only considering themselves in the early stages of this new process. This is because most are continuing to work out justifications or arguments that may have come up.
Here are the perks to digitization:
1. Improved Customer Experience
An effortless business calls for having a seamless customer experience.
When integrating digitization and automation into the business, and a client comes in with data they want entered, previously it would’ve been a tedious process, however being digital makes the whole process almost instant.
2. Increased Efficiency within the Organization
Naturally, the digital transformation and transition has made workflow creation and execution more efficient, quicker, and simpler.
While businesses were in the process of transitioning to being digital, they are given the opportunity to make note of what was happening. The improvements that were made helped companies automate labour intensive processes, which makes everything more efficient.
3. Digital Transformation keeps you in the market
As one should, businesses that are successful should keep up to date with their competition. With digital transformation, enabling your organization to run faster and more efficiently, your profits will most probably see an increase.
Any and all of your competitors are familiar with what comes post digital transformation, and you need to recognize that it is an important component for your business’ future.
Incorporating cost management, and quality improvement; they will increase your sales and customer satisfaction, which will then help your earnings to increase.
In short, digital transformation has the ability to assist your business in growth for success.
The Human Workforce
Increasing the human interaction is a natural model that will help your technique in digital transformation. Anyone from engineers to designers and production managers and all levels are required.
Despite what it is, digital transformation is not just all about technology and tools, in order to be successful, you need balance between humans and technology. Automation is transforming countless industries and employees that are impacted by these technologies must be retrained to make sure they are up to date on the latest opportunities for growth.
Within today’s economy and workforce, it is drastically different from what it used to be 10 years ago. Not only because of the rise in remote work as a new normal, but the gig economy has taken part of this trend.
Every company that gets involved with digital transformation needs to understand the human challenges that control this transformation.
Artificial Intelligence: Machine Learning and Basic Analytics
Artificial Intelligence or AI for short, is one of the driving factors of the digital transformation going to the next level. AI has the ability to analyze patterns in bulk volumes of data.
Machine Learning and Artificial Intelligence work as a team. Machine learning is a subgroup of artificial intelligence and it is what trains a machine how to learn. With this advancement in technology, it has made it astronomically easier to evaluate the amount of data that’s received. Which in result helps with delivering more accurate and useful results.
Nowadays more and more businesses are incorporating AI into their businesses and here’s why:
To detect fraud that is a universal bug worldwide
To identify intricate patterns in clients and give notice if something looks unusual
To grow and create faster, more efficient digitized data
To identify profitable opportunities for organizations and to avoid unknown risks
Basic Analytics
Having the ability to utilize tools, resources and custom software solutions to complement your business operations is only common sense.
Access to basic analytics is an essential tool to help you have a better understanding about what happens within your organization. AI can help refresh and bring the real power behind basic analytics.
Basic Analytics offers you:
Ability to create and deliver all the essential techniques
Ability to focus your attention on what matters for your business, rather than getting sidetracked by irrelevance
Ability to receive notifications for questionable events
Basic analytics being integrated to AI allows your business to be proactive instead of reactive when doing things for the business.
Advanced Analytics
There are two kinds of advanced analytics: predictive and prescriptive, and they both try to help identify future trends, as opposed to just what the basic analytics offer.
Predictive Analytics: meaning that a problem could happen, like sales being not on track to meet goals. Predictive analytics is the analysis that helps determine where to direct your focus. They are future facing and utilizes trends and raw information to help create plans. Predictive analytics lets you meet your problem head on, and it’s different from any other type of artificial intelligence.
Prescriptive Analytics: offers you more information than predictive analytics and is a different course of action. Prescriptive Analytics will help you search for a more specific goal. They will also not only find the problem, but will help come up with a solution.
Creating action within your business is the main objective, and digital transformation is your best method to help you be successful. Having the technology integrated, you’ll need the best custom software solution at the ready.
Here are ISU Corp, we understand technology and are ready to help out. Reach out to one of our trained experts and we can help you create a custom software solution to assist you with achieving your digital transformation goals.
