Tag Archives: digital transformation examples

Today’s Digital Transformation and Innovation

Digital Transformation and Innovation are everywhere. Take a look at your surroundings. From your houses to your workplace, you can see the things which are a product of today’s change.

In this article, you are about to find out what DX and innovations have to offer in today’s era.

Successful DX

Digital transformation is driving business innovations for companies in many industries. Here are some examples of successful digital transformation in business.

Best Buy’s Performance Has Improved Since Going Digital

Best Buy Co., Inc. is a technology retailer that sells various products, services, and solutions. Customers who visit the Company’s stores or use its Websites or mobile applications can buy products and services.

It assists people in getting the most out of their digital gadgets by using digital technologies to enhance delivery times.

Also, there’s a quick change done in the Best Buy company. From snail mail to digital marketing.

As a result, the company’s stock price has increased from $23.70 in 2012 to almost $74.

Target’s Digital Transformation Plan

Another company that improved its web presence was Target.

They brought new technology and improved their social media presence to boost their market share.

Also, they have developed a more successful digital strategy that allows for more customization.

Target’s sales have climbed by roughly $6 billion since going digital.

Nike

Nike is one of the most well-known athletic shoe and clothing brands in the world. But, as time went by, they believed they were becoming slow and out-of-date.

So, Nike opened concept stores.

They also expanded membership options and improved the customer experience online and through applications due to the more efficient and effective use of digital consumer data.

Moreover, the company improved its data analytics, changed its e-commerce strategy, improved its digital marketing initiatives, and increased direct-to-customer sales.

In the two years after the change began, Nike’s stock price has risen from $52 to over $88.

Digital Innovation Perks

Digital innovation, to put it, is the use of digital technology to current business problems.

And yes, digital innovation is all around you. Wearable devices, chatbots, IoT, AI, big data, and so on are a few examples of cutting-edge technology.

Also, digital innovation is now at the heart of every business.

So, to do things better, faster, and cheaper, you’ll need to create new methods to engage people and bring new products and services to market.

And by that, initiatives are made possible.

Initiatives in digital innovation can include:

  • Creating a new technology strategy in the context of an existing business
  • Choosing to use new software or platforms and putting them in place.
  • Deciding to go from device to devise processes

Remember

It is critical to developing the correct business model that aligns with your company’s digital strategy regarding digital innovation.

Digital innovation is tied to concepts like digital transformation and digitalization. Many organizations know that to be competitive in today’s market, they must adapt, innovate, and incorporate new technology.

So to those businesses that want to evolve and stay competitive, digital innovation is the greatest solution.

WalkMe is a digital transformation platform that has rapidly grown to meet the enormous demand for next-generation digital learning.

You can learn at WalkMe with your digital transformation journey.

Best Digital Transformation Examples Now in 2021

For many years digital transformation improved businesses. In this article, we will walk you through some digital transformation examples. So, you will be inspired to transform too. 

Read on to know more. 

Digital Transformation in A Post-COVID World

Today we see a lot of companies transform digitally. The covid-19 pandemic also accelerated this. And we can see how it help them. 

Today we are in a global crisis. People are also worried about their health and safety. With the help of digital platforms, they can perform tasks without going outside. 

For example, businesses started to offer online ways to order. Banks now also have an option to withdraw money without inserting your card on the ATM. 

And these are something let me need now. At the same time, businesses don’t have to close their doors. 

Digital transformation also helps them survive and thrive these days. But, what inspired companies and businesses into digital transformation? 

Here are some of the reasons why: 

  • Personalized customer experience 
  • Collect data from insights 
  • Compete with other businesses 
  • Improve the company culture 
  • Meet customer demands and needs 

Now, let’s take a look at some industries. 

Companies Who Applied Digital Transformation 

Of course, there are a lot of industries that apply dx. But the following are pioneering 

  1. Services 
  2. Finance 
  3. Healthcare 

But, why should you make efforts to transform? Let’s consider why companies do so. 

Digital Transformation Examples 

Ping An Bank 

Ping An bank is a Chinese bank in Shenzhen. Because of the COVID-19 pandemic, they also encountered a crisis. 

For one thing, they couldn’t believe our services. And that’s because people can’t go outside. 

So they focused on applying technologies. They also do develop fully online access. So some of the services are now contactless. 

Because of that, their number of customers increased by almost 12%. 

Compac

Compac is a company that sells machines for fruit sorting and maintenance. But because of the pandemic, they could not offer support to customers. 

So, they decided to offer remote technical support. Their clients receive iPads that have applications with instructions. 

They also tailored checklists. So customers can solve common issues on their own. 

So, we can protect their technicians’ safety and that of their customers. 

AARMY

Gyms and fitness centers are also severely affected because of the social distancing rules. But thanks to technology, they can stay connected to their customers. 

Now, AARMY offers streaming sessions to its clients. And they’ve seen rapid benefits. How so? 

Within the first 24 hours, more than 18,000 attended online classes. 

TOV

TOV is an American furniture company. But the covid-19 outbreak forced them to close their stores. 

People now started to look for furniture. Parents want to find outdoor trampolines for their children. Employees who work from home how to look for desks. 

But, they cannot visit their stores. So, TOV has online stores now. As a result, they can reach more customers.

They also offer an eCommerce platform. Back then, they would only sell their products B2B. And a customer had to buy from furniture stores. 

But now, we can reach out to customers because of their B2C sales.