Blogs/ DIGITAL TRANSFORMATION
Trends Shaping Digital Transformation in 2021 and Beyond
A fleeting examination of the big trends and what's in store for digital transformation in 2021.
In today's world, changing technology, modernization, and digitization of business operations is a leading concern for most organizations with progress happening at dizzying speeds. The up-gradation of tools and processes has carved out a permanent process niche for itself.
For businesses racing to remain relevant and at the top of their game, the pressure is on.
The COVID-19 pandemic has placed more pressure on corporations to continue to transform digitally with everything moving from offline to online. The economic recession has driven businesses to accept remote workforce structures and change recruiting models. Digital innovation activities are accelerating pandemic-inspired challenges, and global digital technology and services investment is projected to rise by 10.4% for the year 2021.
Businesses that were digitally prepared were able to bounce back and the businesses unable to switch their models will struggle to survive in an unpredictable economic climate. The volatility created by COVID-19 has more than ever shown that organizations need to be flexible and adaptable if long-term performance is to be achieved.
What does all this mean for 2021 and beyond, particularly as the world begins adapting to what is now the new normal? We look at the changing definition of digital transformation and identify the core components that will decide the industry's future for years to come.
Redefining digital transformation
The term "digital transformation" has seen a spike in interest over the last few years has traditionally been referred to as corporations' attempts to introduce new tools. Now it's not just about bringing the latest technologies up to date. Digital transformation is an important transition that effectively transforms the way a company innovates and functions every day and eventually changes its relevance for consumers. Simply put Digital Transformation is how a business leverages technology to optimize business processes and deliver greater value to its customers. This enhanced awareness of digital transformation provides companies with new opportunities, especially in the uncertain post-pandemic environment.
Find below some of the patterns that are shaping the evolving concept and how you can keep your company agile.
Today's digital change: trends for 2021 and future years
Companies dealing with digital transformation used to be technologically specific. But today, digital innovations determine the future for corporations across industries. These changes will affect the function of organizations across all sectors over the coming year.
1. Smarter AI (Artificial intelligence)
Everywhere from e-commerce to cybersecurity, education, healthcare, is Artificial Intelligence (AI) essential. Today, AI controls tools such as chatbots, virtual assistants, and even autonomous vehicles. In the future, the emphasis will be on enhancing AI for improved understanding of individual responses and reactions – an essential advantage for companies that wish to communicate with customers digitally.
Organizations should begin exploring AI Solutions for their businesses to streamline processes. If the current operating infrastructure is in place to enable their use, it would be easier to introduce more sophisticated AI-powered technologies.
2. Greater value with big data
Collecting data from the world around us is now easier than ever. New technologies and advances in the processing power and capability of computers mean that firms can accumulate vast volumes of information on their consumers—and use it to achieve a competitive market position by providing a personalized consumer experience.
Companies must make the compilation and use of user data a priority. With more efficient analytic and statistical tools, organizations will need valuable data collection techniques to compete and grow.
3. Data analytics and data-driven decision making
Every organization big or small collects data, but what makes a difference is how the data in hand is used. Data needs to be filtered, sorted, processed and analyzed for it to have any value. Big data is becoming more useful thanks to increased smart data analytics, enabling the fast organizing and analysis of large volumes of complex data from various streams. Data analytics helps make data-driven decisions, increase productivity, reduce costs by predicting consumer behavior and optimizing business processes. Data Analytics should be given utmost importance for organizations to move from analyzing data after a process to making smart decisions while implementing a process.
4. Platforms for data protection are becoming more proactive
Trust is one of the most significant barriers to big data. The sharing of information with businesses is something that consumers are increasingly hesitant to do. Meanwhile, organizations are mindful that any technical disruption may impact consumer confidence. The protection of data is no longer a matter of legal adherence. It has become a vital business target.
Companies should look at their data protection priorities. The operational processes should be checked periodically by organizations. Running experiments will help identify gaps that can be addressed by current and potential data protection tools.
5. Increased adoption of Automation
Digital Transformation and Automation go hand in hand. Automation of business processes and consumer experiences lead to the adoption of digital technology and innovation. Business leaders should focus on data and workflow automation now more than ever to digitize processes, improve operational efficiency, reduced costs, increase scalability which in turn leads to better sustainability, improved consumer experience, and a higher return on investment.
Parting thoughts
To continue evolving and staying abreast with the latest tech companies will need to reconfigure how their energies are channeled and build a Digital Transformation Strategy for your Business. Switch to independent experts if you need assistance to drive the digital transition in 2021 and beyond.
Consider the use of automated or external resource solutions to fill talent shortages. At doodleblue, we work with a hybrid workforce and a worldwide talent pool with the best experts from across industry domains.
