As enterprises around the world are tapping into new ways of running their businesses, especially to survive during the trials of time, it has brought us closer to the concept of digital transformation. Digital transformation is not something that was born yesterday; it has been around way before the age of legacy systems. However, its meaning has evolved over the years, and its definition changes from business to business.
Watch the below webinar where Rupam (co-founder (product & business growth) at Needle Innovision) talks about the possible hits or misses a business can encounter in their transformation journey. It will help companies that are in the process of adopting a digital transformation solution.
Key takeaways from the webinar:
Data is at the core of every digital transformation solution.
Digital transformation is not about building more apps or bringing the latest technology to your business. Instead, it is about taking a deeper look at the flow of information across your businesses' internal & external environment, understanding what kind of data & information flow works for your business, realising the gap and then implementing the appropriate tech solution to it. On top of everything, your people must be aligned and involved in each part of the transformation journey.
Let's understand the information flow with an example of customer support. Many companies are automating their customer support processes these days via chatbot implementation. Most of the time, the information flow in such cases breaks after 2-3 steps.
When someone is drawing money from the customer's card, the customer won't want to fill-up the form and then wait for someone from the bank to reach out to her; instead, she would like to get a quick solution, connect with someone.
People matter the most in any transformation journey.
When we talk about the digital transformation, we aren't just talking about the technology but how people and tech can blend together; a blended workforce. While technology is a crucial enabler of any transformation solution, people's role matters more in the entire process, i.e., the leadership, advisory and the people internal to the organisation.
AI is not the wizard of all transformation solutions.
We are dwelling in the era of Industry 4.0. Many buzzwords surround us, such as artificial intelligence, deep learning, machine learning, computer vision, image processing, to name a few. And there is an overwhelming enthusiasm around these buzzwords across various industries such as banking, telecom, insurance, healthcare, etc. Seeing other enterprises adopting AI, you might fear to miss out on the same and be tempted to embrace it. Still, AI is not necessarily the solution to your businesses' problem. The use of AI is case-specific. It is crucial to understand when to use it and when not to use it.
Referring back to the customer support problem cited earlier, chabot may not be a solution to your business problem. When a customer faces an issue, they might not want to chat with a bot; they might be looking for a quick answer to their queries. A search query solution might work well in this case, and if the solution isn't available, the customer can be redirected to the specific department.
Below is a simple example of a digital transformation solution.
Pulling it all together.
Let's tick-off the things to keep in mind before adopting a transformation solution:
- Gap: Understand the problem
- Data: Understand the data & information interaction in that problem statement's environment
- Environment: Connect the data surrounding your problem statement's atmosphere with the larger data environment
- Solution: Then apply the appropriate tech solution to solve the problem.
If this sounds interesting to you, well, then let's talk. Also, keep watching this space as we bring you more information on digital transformation.
P.S.- For those who don't know much about us, we help businesses across the globe adopt digital transformation and deep-tech solutions powered by meaningful information.