Digital Transformation and Optimizing Technology
T echnology is evolving at an alarming rate. It’s no wonder that businesses are struggling to keep up with this digital transformation. The question of how to optimize technology is something every business owner should ask themselves. However, it’s not enough to ask the question; there needs to be a plan for what can happen next.
Every industry and every organization will have to transform itself in the next few years. What is coming at us is bigger than the original internet, and you need to understand it, get on board with it, and figure out how to transform your business.
– Tim O’Reilly
How do you know if your business has optimized its technology? What does the future hold for companies that don’t want to get left behind? Read on and find out more about these questions and more!
What is Digital Transformation?
Digital transformation is the process of employing digital technology to build new — or adapt current — systems and processes, culture, and consumer experiences. Digital transformation is the reinvention of business in the digital age.
It goes beyond standard sales, marketing, and customer service functions. Digital transformation starts and ends with how you think about and interact with clients. With digital technology, we have the opportunity to rethink how we do business and how we interact with our customers.
There’s no need to set up your business processes and then transform them afterward. You can future-proof your company from the start. Stickies and scribbled ledgers aren’t going to cut it in the 21st century. You’ll be more agile, versatile, and ready to develop if you think, organize, and develop digitally.
What are the Most Common Digital Transformation Trends?
Nobody could have imagined where we’d be in 2021. In the last four months alone, more digital transformation has occurred than in the previous decade. With every transformation initiative already underway being accelerated and scaled up. Although many digital transformation forecasts from a year ago were realized due to this transition, others were replaced by more pressing needs, such as safe and reliable connectivity around the clock. Will fundamental technologies such as artificial intelligence and data analytics continue to dominate headlines, or will newer technologies take the lead? Only time will tell, but these are some of the most important digital transformation themes to watch:
We’ve been hearing about the merits of 5G for years. Still, it wasn’t until the last two years that the demand for increased bandwidth and stable connections became a real, tangible benefit that we could all understand. Our dependence on phones, tablets, and gadgets – including an ever-increasing number of IoT sensors – emphasizes the need for the multi-lane freeway that telecommunications corporations foresaw. Businesses today can no longer afford to remain unplugged, and 5G deployments have become a critical component of the answer.
Despite their philosophical importance, cybersecurity had dropped off the list of essential tech developments last year. However, with the pandemic, cybersecurity has resurfaced as a significant concern. Hackers have taken advantage of the coronavirus outbreak to expand their attacks against organizations all across the world. From January to April 2020, there was a 238% increase in bank attacks and a 600% increase in attacks on cloud services. Companies must strengthen their networks and enhance their cybersecurity procedures, expanding them to home networks and mobile work-from-home devices, as fewer people work onsite on the same secure network.
Democratization of AI
The pandemic has accelerated the democratization of AI and data. Organizations were forced to work together almost overnight to find a speedier way to stop the virus from spreading. Naturally, they turned to data, AI, and machine learning as tools. The work that began in 2020 will likely continue in the years to come, focusing on a variety of critical issues that these organizations are now ideally positioned to address, such as tackling global and market problems faster, better, and at scale.
How Has COVID-19 Impacted Digital Transformation?
COVID-19 has forever changed the way business is being done and will be done in the future. Organizations throughout the world have been focused on digital transformation to ensure that their needs and the needs of their clients, citizens, patients, and the larger stakeholder community are fulfilled. The transition from physical and on-premise to digital was important to ensuring organizations’ survival through COVID-19 and establishing a model that may help address future problems.
Only a few industries are unaffected by the COVID-19 epidemic. However, Digital transformation has exploded in the retail industry. Due to the rapid pace of change required for shops to compete for online business, full-scale digital transformation became imperative. By 2040, Nasdaq predicts that 95 percent of all transactions will be conducted online, with brick-and-mortar stores accounting for only 5% of total sales.
All of this is to imply that, over the last year, business dialogues have turned swiftly to a consensus that digitization of services are now irrevocably changing the structure of commerce. Businesses that wish to keep up, or even exist in the real world, will have to undergo drastic transformations — not just digitally, but also mentally.
Importance of Optimizing Digital Assets
You may become a powerful online player in your sector by optimizing all digital assets and preserving brand consistency. Digital asset optimization allows you to establish your brand online while also increasing the visibility of your items and services. While it still covers web page optimization, it’s becoming increasingly crucial to optimize the types of files that traditional SEO tactics rarely cover. These include PDFs, podcasts, video material, photos, Tweets, LinkedIn company profiles, and just about everything else in the digital arena.
It’s feasible to expand your optimization efforts and report more value up the ladder by utilizing fresh signals and markup recognized by search engines. The basic concept is that anything that can be searched can be optimized.