What is Digital Transformation and How is it Relevant to Your Business?
In the recent time, digital technology and the manner in which people use it in every aspect of their lives, job, and society, has seen the continued change in the business. Digital transformation may not be the ultimate term to use in describing the areas it covers. Often, some people prefer using the term digital business transformation so as to get in line with the business aspect. The broad meaning of digital transformation not only covers aspects of business transformation but also used to describe changes and evolution that take place in other areas, for instance, the society or the government.
Areas of Digital Business Transformation
Changes in Business Processes
Any primary process that incorporates the processes of management, optimization, and automation by having a set of connected activities or operations can undergo a transformation. Business process optimization is an important tool in digital transformation strategies and is also a customer-facing tool.
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Core Business Models
A business model covers the functionality of the firm right from the marketing strategies, the means of seeking money and how it effectively transforms its main business and taps into novel sources of revenue and approaches, and sometimes having to drop its traditional core business after some time.
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The partner and stakeholders networks, inclusive of the factors that affect the business such as the regulatory or economic priorities make up the business ecosystem. New ecosystems are made by companies with different backgrounds effects digital transformation and information, in which case, data, and actionable intelligence become an asset of innovation.
This is not an exhaustive list of the areas that digital business transformation covers, there are still other major areas and though some overlap, they cannot be avoided.
The Importance of Digital Business Transformation
Digital Business transformation means the transition of the entire business from an old platform to a new exciting and dynamic model. While there are several aspects of digital business transformation; this article will address its importance in sales and marketing.
The speed at which E-commerce is being adopted is high and the old methods of advertising have been kicked off. The use of phones and mail has been outdated and may people have turned to the internet.
Any service business in operation needs to be digitally transformed. The internet has brought about great transformations in the business world as many people have turned to searching online other than using older methods like the Yellow Pages. Online sites provide more information and also provide social evidence of customer reviews.
To summarize, the only way to bring about the maximum challenge in change management is through Digital Business Transformation. Digital business transformation impacts on the industrial structure and strategic positioning and also affects all levels of an organization.