Tag Archives: Digital Transformation Capabilities

Master In Digital Transformation

Master in Digital Transformation.

You may have this as your purpose. But, you do not understand where to start. Maybe you are a student. Then, you may be thinking to make it a job to be a business partner. 

The problem is, there is a lot of data. So, you do not understand what to consider first. 

In this article, we will understand the basic data in digital change. 

We will learn what is most important to learn in this business. So, you will have an idea of what actions you should take next.

It is shown helpful. It is because many businesspeople decided it. Now, they are successful. 

Meaning and Importance

When we talk about technology, we study the internet. Before, we use it for education data in school. 

Now, digital change is available. Everywhere you go on the web, you will see outcomes for sales. 

They are some of the company owners who changed to digital transformation. Also, you may understand about a piece by someone you watch on Youtube. 

You have this kind of marketing everywhere. Or you may wonder why is that welcome. That is what we will discuss in about following. 

How to Master in Digital Transformation

The most important in this plan is a good idea. Why? It is because you do not have the ability at all times. 

When a problem happens, you will have a solution ready. For example, a lot of businesses finish now because of the coronavirus pandemic. 

Those who made it now operate their shops online. So, it is necessary for the system. 

The next step towards it is being familiar with the technology. You do not have to go to school in another field. Rather, getting the basic data of the program will already be a big aid in this. 

Why is it important? It is because you will have to operate it by yourself when there is a need. Also, you will be calm. 

You will also have the confidence that your operators are doing the right job. Besides, the next one is being a good head. Like owning a physical shop, great work has a big lead. 

It means that you do not need to micromanage your business. But, you will help them improve on their own. 

The last thing we will remember about is an excellent company. So, if you want your part to be popular you can work this. 

You may wonder how Youtube sellers sell a product. SO, why? It is because of the pad connection with the label. 

It will have a profit for you and for the person you choose. 

So, if you try these steps, you can go for the digital transformation!

Conclusion

Everything is hard at the origin. But if you gently read it, you will easily become a professional. 

Remember that knowledge is always open. When you remain doing so, you can be strong. 

When it comes to special words, you will be a master in digital transformation. One day, your market will be a big success.

Driving Digital Transformation

Driving digital transformation has a lot of parts in the business. So, making sure the journey goes and ends well is necessary. 

Businesses need to make sure of this. Why?

The business has a very high crash rate when doing digital transformation. Also, you do not want to proceed.

What do we need to do? First, you need to see out for the Dx workers. What are these?

What is Driving Digital Transformation?

Openness and Action

First on the list is openness and action. When the idea is unclear, many will not get on the grip of the change they need to do.

Businesses need to have a clear plan first. Then, let all know about this and let them know why taking digital transformation is essential.

What the market needs to have are the right and clear metrics. When these all are clear to the business, the game will not happen. As a result, you will be more helpful to change. 

Digital Culture

The second operator is still about people. Businesses need to make sure they maintain a digital culture. So, one that is free to education and growth.

Why is this necessary? Doing digital change means using a lot of modern digital technologies. Also, when firm history is not open to new knowledge, these will be useless.

If the business takes the stress that occurs with getting new techs. Moreover, at the same time deliver an improvement, they will make a strong digital culture.

Digital culture is not only good for the firm but also for the workers. 

Digital Portfolio

Nowadays, buyers look for how legit a market is on social media or on the company’s website. So, it is now essential to have an effective digital form.

If they need one, they risk customers believing they are not real. Also, they would not put their support in them.

To stay fit, it is not sufficient to have some sort of digital presence. The business needs to have a robust digital group that tells what they are and what it can do.

Providing to mobile users is a wise idea is necessary. Thus, this is a strong driver of digital change.

Digital Backbone

One of the very essential drivers for Dx is of course the digital backbone. It means all the:

  • base
  • forms
  • plans

Businesses need to make sure they use the best tech. Why? Keeping the most current or the most high-end tech is not enough.

What is the value of it if it is not what they require? So, managers need to think well about the needs of the market. Then, see what demands innovation.

Conclusion

These four noted above are what drives digital transformation in the business. So, when businesses get to know and make sure of these, their aim is set to see the knowledge of flow. 

A business will grow and expand well in the trade. As a result, the business will improve at the same time, the operators will work well. 

What do you think of the program above?

Best Examples Of Digital Transformation

What are the best examples of digital transformation? And how their tops help other businesses in their digital transformation look?

Operating in digital transformation can make or destroy a firm. In this very digital life, making this development has become essential.

Companies need to crack the shell and be innovative in their businesses. But, it is not only restricted to changing their technology and plans.

Successful companies have already experienced this. So, they make for the best examples of digital transformation. 

Do you want to identify who are they? Read on to know more. 

Nike

Nike is one of the world’s leading shoe and clothing tags. But before, they began to seem old.

Good thing they chose to look back on their place. Also, they started doing digital transformation efforts.

The company focused on reinventing its name and supply list. So, how did they do that?

Nike centered on its connection with its customers. They created works such as company chances and stronger digital business. Then, they made efforts for powerful data analytics.

We can see that Nike company did not center on middlemen and other retailers. Instead, they focused more on marketing directly to buyers.

The business did this by creating a stronger presence on sites like Amazon. Also, they started the customer online activity through apps and social media.

They have seen an improvement in stock price from $52 million to almost $88 million. So, all of these for a difference in only two years.

Target

Target, a retail firm, has had an 8-year digital transformation aspect. They did work to direct their digital form and make it part of their main business.

They have already developed 400 shops and projects to improve a new 600 by this year. Also, they gave these shops with new technologies and sets such as:

  • online system
  • in-store pickup
  • curbside grocery pickup

The firm made goes to develop their social media habits. Why? To let customers find new goods and even get them from their social media records.

Target company saw an increase in its store share. From $73 per share in 2017, it is now at $88 per piece. As a result, their revenue grew from $70 billion to $76 billion this 2020.

Hasbro

Hasbro is a toy and game business. In 2012, they saw a decrease in their store part. So, they made different digital and data systems to change the company’s growth.

They began by making targeted selling works for their company. As a result, they made it successful by getting and using consumer data.

The business made efforts to create omnichannel marketing and these shopping links:

  • digital storytelling
  • video content
  • social media marketing
  • its nostalgic brand

Their 7-year digital transformation is a bonus. So now, Hasbro’s stock increased from $36 per sale share in 2013 to $109 now.

Conclusion

These firms made are the best examples of digital transformation. Also, they looked at what they need and made efforts to fulfill those gaps.

Making efforts to be innovative is essential. So, companies can then learn from them by making those efforts. 

Pick the Right Digital Transformation Partner

Working with a digital transformation partner is a must if you want to succeed. Picking the right partner might be tricky so this article serves as a guide. 

When done right, digital transformation (DT) greatly improves your product or service. DT involves exploring new ways of identifying the business challenge. Moreover, it changes how your brand interacts with customers. 

Another benefit of DT is access to analytics, which in turn enables you to better understand the market. Those are just a few of the millions of benefits that DT brings. 

However, your company will only reap the benefits of DT if you choose the right digital transformation partner

Every great partnership starts with you 

The first and most crucial step in DT is to identify and understand your goals. What are you trying to achieve by implementing DT? Identify what challenges you aim to solve with DT. 

Some examples of the goals you may want to pursue are:

  • increase customer satisfaction
  • speed up the product development process
  • Build a long term digital roadmap
  • strengthen your market position
  • apply data analytics for internal processes optimization
  • validate current pain points and find ways to solve them

Not knowing your true intentions will result in you and the consulting firm waste time and money. Define your priorities.  

After identifying your goals, figure out the reasons why you need a partner. Take note that it’s very important to assess your in-house potential. Only in this way you can find the best fit with a partner.

For instance, do you want to extend your team? If so, search for companies that have a compatible working culture and skill stack. Meanwhile, if you’re looking for a team to fill in the missing skills, look for a company that works very differently from yours. 

Communication

Moreover, communication is a crucial part of the success of DT. Ask questions and clearly communicate your needs and expectations. Both parties must be fully aligned so the partnership turns into a win-win situation. 

Furthermore, have your potential partner walk you through the onboarding process as if you were already a customer. This will help you identify whether your partner’s strategy aligns with your vision. It is also important that you document the alignment and synchronization process. 

These questions may seem very secondary. However, it is best to address them early on to make the validation process more efficient.  Don’t figure it out on the go. Otherwise, you might get stuck in the endless loop of “figuring things out” before moving on to tangible progress.

Red flags

You’ll notice the red flags early on. For instance, are the people present at the negotiations will be the ones who will handle the partnership? If not, it could lead to future complications in strategic alignment. Furthermore, it may result in a major loss in money and time. 

Moreover, always test the waters first before entering any deeper commitments. The last thing you need is a wrong partnership and losing your market position due to major delays and inadequate investment. 

Kick Off Your Digital Transformation Journey

Every business must take the digital transformation journey to survive. There are some crucial steps you need to take before starting the journey. 

Many companies acknowledge that digital technologies change the world dramatically. However, a recent survey revealed that only 8% of respondents considered their company fully digitized. This just shows that the majority of businesses still have a long way to go on their digital transformation journey. 

The future of technology may be uncertain. Yet, one thing is for sure: doing nothing is the biggest risk. Embarking on a digital transformation journey is no longer a question of “if”. It is now a “when”. Listed below are the tips you need to take before starting your digital transformation journey. 

Identify what “digital transformation” really means for your company 

There is no actual universal definition of “digital transformation”. Ask different business leaders about it, and you’ll get a different answer every time. This is not surprising as every business has a different target and audience. Moreover, there are so many technological advancements available, and the number keeps on growing. 

Thus, the first step you need to take is to establish what digital transformation actually means for your company. Consider your industry, competition, customers, and other influencing factors. Afterward, use this information in establishing specific goals

Assess your current capabilities

You also need to examine your current technologies. Many companies develop their strategy without considering their existing tech stack. This makes them vulnerable to either over or under-transforming. 

Establish how you will go digital

Generally, you can either implement front-end or back-end transformations. There is just a lot of options to choose from on how you will go digital. For instance, you may implement robotic process automation (RPA). Transitioning to the cloud is also very popular. Your strategy might be a combination of internal and external transformations, or it might be one small change. 

Whatever the case is, remember that any technology you install is a means to an end. Furthermore, never forget your end goal. You’re adding value to your customers and business, not just transformation for the sake of it. 

Get the right buy-in

It is a must that you acquire executive buy-in. Doing so shows your commitment to the change. Moreover, it is nearly impossible to get your project running without executive buy-in. After all, the company’s executives will give you the necessary budget for the project. 

However, getting their support might take time. Thus, it is best to start working towards it as soon as possible once you have a solid plan in place. 

Ensure you have the right skills in place 

One of the main reasons why transformations fail is a lack of skills. Thus, you need to focus on hiring people with the essential skills to drive your project forward. Otherwise, your initiatives will lead to failure and negative revenue. 

Prepare the entire business

You also need to get the buy-in of employees. Humans are normally resistant to change. Yet, you can eliminate that tendency by being transparent and opening the lines for communication.

Begin your digital transformation 

Most importantly, execute your plan! Make sure that everyone remains committed throughout the process. 

Digital Transformation Capabilities to Have

Before doing the journey, there are some digital transformation capabilities you need to have. This will help you succeed.

What are these? Read on to know more.

Digital Transformation Capabilities to Have

Technology

Technology is a key driver in doing digital transformation (Dx). Especially now that new techs are always rising. We now have:

Over time, these techs become easier to use. But that is not to say that you will not need some time to understand how they work. Everyone needs to have in-depth knowledge of how your techs work.

Aside from that, you will need your new techs to work with your old system. But that will be harder to do if you still keep legacy systems. So, you need to get rid of them.

How? You will need to have strong tech capabilities. Make sure you have the right talents. These people will be the ones to help you align your new techs with your business value.

Data

Next up, data. Today, we are making and using data more than ever. Thus, making king when it comes to Dx. But not every company keeps up with the basic standards when it comes to data.

But to ensure success, you will need to use both data and analytics with great quality. Aside from that, you will need to:

  • learn about new types of data
  • collect more data than usual
  • make full use of proprietary data
  • bring everything together
  • find and get rid of unuseful data

Knowing the value of data is not enough. You will also need to assign the right person to take care of all your data. So that this person can help you leverage all the data you have. This capability is crucial.

Process

Before you can call your Dx a success, there are many areas you need to consider. Some of them are:

  • finding ways how to meet your customers’ needs
  • making seamless work activities
  • managing silos to move forward

To achieve this, you will need to have the right process. But that can be hard to do if you still keep the old ways of thinking.

So, you will need to have a talent that is a forward-thinker when it comes to process. This person should be able to manage silos by:

  • meeting customer needs
  • enhancing existing processes
  • making new processes

Organizational Change

The capability to do an organizational change is also crucial. So, you will need someone that has strong:

Having a person with all these skills is vital for success. Why? So that you will not only focus on tech, data, and process.

Oftentimes, companies forget about the human side in doing Dx. But you should avoid that as it will lead to failure.

Acquire These Digital Transformation Capabilities

What do you think? Do you already have all these four capabilities? As said, in-depth knowledge of tech is crucial.

In short, you need a high digital adoption rate. How? You can get the help of WalkMe for that.