Tag Archives: digital transformation industries

Digital Transformation Environment Sustainability

What is the digital transformation environment? Also, how can it help sustain our ecosystem?

Read on to know more.

Digital Transformation Environment

Sustainability is something that has been around for a while. But, we have only started focusing on it in the last decade. 

Now, we want to save our resources. And digital transformation will make that possible. How so?

Let’s discuss how technologies help promote a greener world.

Technologies in Digital Transformation Environment

How does digital transformation help sustain our environment? There are a few ways. Let’s discuss some of them:

Using Digital Tools

With technology, we can monitor how much water, coal, and oil we use. Digital transformation will help us with energy management. 

It can also help us keep tabs on the usage of natural resources. And this way, we can reduce the rate at which they are consumed. 

In other words, with technology, we can control how much each of our resources is consumed. This will help reduce environmental damage as well.

Technology has helped us with many of our environmental problems. For example, IT has allowed us to get better garbage management. 

In most cities, we have garbage trucks that are automated and run by sensors. This way, we reduce how much garbage we produce.

Artificial Intelligence for Sustainability

With artificial intelligence in digital transformation, we can gather data and insights. Then, we can use this data to identify the places that need our help the most. 

Also, with AI, we will be able to identify issues more quickly and act accordingly. So, it will also help us solve global problems. And we can do it faster than ever before.

To provide solutions for sustainability, we have to look at it from a global point of view. Then, we should make decisions based on what is best for everyone on our planet.

Machine Learning

Organizations can also use machine learning to predict forecasts for solar and wind power. Also, they can predict the energy demand. And, they can use this information to decide how best to manage their resources. 

In addition, they can use it to plan for future needs and make decisions accordingly. So, it will help them save their resources and make better decisions as well. 

The best part? It can do all this without needing any human intervention. And that is because of the data that we have gathered from all over the world.

Business Intelligence

Digital transformation also involves business intelligence (BI). With BI, we can analyze data and identify patterns. 

We can then use these patterns to make decisions. So, we can use it to predict what is going to happen next. 

It will help us plan for our future needs so that we are prepared when they come along. It will also help us plan our finances better as well. 

So, it will make us more efficient when it comes to our finances and resources.

Wrapping Up

With digital transformation, we can expect better management of our resources. So, it will help us in the long run. 

It is also safe to say that digital transformation is not going anywhere anytime soon. In fact, we can expect it to grow even more in the coming years.

5 Trends Surrounding Automotive Digital Transformation

There are trends surrounding automotive digital transformation. The automobile business is one of the most dynamic since it is one of the most open to new technology and trends. We looked at the top digital trends that are causing major shifts in the automotive industry. So, here are a few examples:

Environment

Businesses are now moving towards a more sustainable technology. As you know, humanity demands inventions that protect the environment.

In fact, almost every major automaker has also highlighted that importance. Big companies already have an all-electric vehicle in their inventory.

According to analysis, electric cars will outsell gasoline-powered automobiles completely.

But, many brands are also shifting their sales to the internet. Automakers are shifting their focus online to provide customers with a comfortable experience. That includes not having to visit a dealership for information.

Because of the environment surrounding us, many car companies are now coping up.

Connectivity

Most of our devices are now connected in some way. From phones to televisions to watches, almost all things are now as one. Well, automotive items are also catching up.

For example, the evolution of infotainment systems is happening at a breakneck speed. Cars are now better at:

  • recognizing voice instructions
  • monitoring parts for wear based on driving behaviors
  • adapting to the personality of the driver

Automobile manufacturers will need to speed up upgrades to in-vehicle systems.

Autonomy

In the car sector, machine learning and predictive driving technology are already commonplace.

The general public likes the idea of letting cars drive themselves. So, manufacturers are now seeking to build an autopilot system.

Moreover, the automobile industry is reliant on data. As a result, the volume of data sent through cameras, sensors, and computers is growing by the day.

Yes, assisted driving is already commonplace. And, similar technologies will soon be available in vehicles of all price ranges.

Digital Commerce

The automotive sector is being disrupted by digital commerce technology. It enables higher efficiencies, personalization, and cost reductions.

Well, customers can enjoy the development of new tools and the vast amount of data available. Customers can now send feedback to manufacturers on what needs to change.

These dramatic changes forced most companies to go online. Car distributors and manufacturers were able to convert their offline companies.

Also, by going online, it can reduce human mistakes. Mistakes that can occur during inventory and order management. It can also enhance efficiency and decrease expenses.

Augmented Reality

In the automotive sector, augmented and virtual reality has many uses.

Customers can sit in a chair that imitates a car seat. It gives you a real-time experience of being in that particular car.

You can now envision the final product and understand how all elements go together.

Not only does it helps the customer but the manufacturer also. It helps car professionals save time on the job.

WalkMe is a fantastic partner to have if you need help with your digital transformation. WalkMe can help you use all your advantages while also solving pre-existing difficulties. So, schedule a consultation with WalkMe right away.

Digital Transformation 101: The Automotive Industry

Let’s have a digital transformation 101 about digital transformation in the automotive industry. As you know, rapid and disruptive change is nothing new in the automobile business.

Also, there are a lot of trends driving investments in digitalization. Businesses are now seeing the landscape. And yes, you want to enhance your capabilities as well.

Automotive Digital Transformation Expectations

Some parts of the vehicle experience date back to the early twentieth century. And yes, some have remained unchanged till now.

Moreover, eCommerce has long been available to dealerships and customers for new car sales. But, most customers prefer the conventional sale experience.

But, the attempt to add digital tools in showrooms did some improvements.

Also, we can see how the world has changed, and customers of all types are more inclined to shop for cars online.

This trend will continue!

Vendors of all types will strive to improve the digital experience. How? Well, though connecting with customers via social media, apps, and websites.

The Need For Digital Transformation

The digital revolution has made our lives easier and more convenient. And yes, the car sector is no exception.

Moreover, autonomous vehicles, production, maintenance, marketing, and sales are all-embracing digital technologies. But, these improvements are not without their drawbacks.

Examples

In the automotive industry, there are many examples of good digital transformation. It can range from product innovation to operational changes to customer-facing enhancements.

Here are some examples of how automobile companies have embraced digital transformation:

Tesla

Tesla has long been a leader in the application of artificial intelligence and big data. They’ve been collecting data from drivers using onboard sensors since 2014. As a result, the company can make changes through its data.  Also, it allows for a wireless upgrade that improved the accuracy of their software.

Volvo

Polestar, a Volvo brand, is the best-positioned automobile brand in online sales. Their Polestar 1 and Polestar 2 models, like Tesla’s, are only available online. But, Volvo does maintain distinct “spaces” at partner dealership sites.

BMW

BMW’s Regensburg facility implemented an IoT platform. They were able to cut the time it took to deploy new apps by 80 percent. Also, cutting quality control issues by 5%.

Volkswagen

Volkswagen collaborated with AR-based software developers. The purpose is to choose vehicle parts with the appropriate tools.

The MARTA system helps service technicians to do the job.

Benefits

Manufacturers are at a crossroads as digital technologies evolve all around them. There’s a good problem to have strategizing to the changing landscape.

“Do we have to transform and develop or to continue with tried, proven, and true techniques?”

In the long run, digital transformation has many advantages, including:

  • Streamline the supply chain management in the automotive industry.
  • Then, expand into new markets by selling auto parts or supplies. Provide omnichannel sales and customer service experiences.
  • Also, it can track customer satisfaction and renders post-sales support.

WalkMe is an excellent partner to have if you need help with your digital transformation. WalkMe can help you use all your assets and solve pre-existing problems. So, for a consultation, go to WalkMe right now.

Digital Transformation In The Food Industry

Let’s talk about the digital transformation in the food industry. How does digital transformation affect the food and beverage sector? What benefits does digital transformation give to food companies and to customers as well? Let’s learn more below.

Improvements In Food Safety

The Internet of Things enables digital transformation solutions in food and beverages. It allows businesses to remain flexible while displaying the greatest top-of-the-line items.

There are a lot of helpful tools contributing to better food production. For example, monitoring sensors, including temperature sensors and humidity sensors. It helps to manage the necessary production status and shipping time. Also, organizations can track many data points for food safety.

If sensors detect problems, it allows personnel to check the food once again.

Effortless Management Of Operations

Operation management is a critical component of every manufacturer’s business.

Businesses want to smooth out operational processes. You can do that by incorporating workflows and reducing manual processes. Also, you can connect all business units and systems. At the same time, streamlines all processes to make the best judgments possible. In return, it will also convert growth into profitability.

Aside from that, digital transformation has improved automated retailing. At the same time, it also lowers operating costs. Thanks to DX, it’s now simple to remove expired food on time. It’s now easy to send reminders to more efficiently reload the machines.

Distinct Supply Chain Process

In the food industry, the supply chain management process provides clarity and traceability.  Both businesses and consumers can track their purchases. As a result, you can keep customer loyalty and trust. And yes, the entire procedure is now more appropriate because of digital transformation.

We can expound on this by using an example. Let’s say that you’re walking into a supermarket and selects a bottle of honey. You can now follow the entire retail supply chain with IoT and AI technology.

Yes, you may scan the QR code on the bottle to learn all about all the honey’s information. From its pricing, ingredients to its packing, and how it gets to the supermarket.

As a result, you can now make informed purchasing selections. At the same time, creates trust with the product brand.

Efficient Logistics Performance

In logistics operations, food companies can leverage IoT and AI technology.

The Logistics IoT Solutions can help teams track stock and inventory properly. Meanwhile, it can also aid in shipping automation on requests and restoration projections.

Energy Usage Reduction

In most situations, outdated kitchen equipment is the primary source of high consumption. In some cases, it may be the reason for sudden breakdowns. Thus, giving you a clogged maintenance schedule.

But, all these can now be mitigated because of IoT-based smart appliances. These appliances can better manage electricity bills.

Ass you know, there are sensors in these appliances notifying chefs that the food is ready. And yes, this saves time and money on the restaurant’s end.

The alert signals also inform restaurant managers when the oil needs replenishing or filtering. Thus, resulting in improved food cleanliness and quality.

Restaurant staff can now easily verify the cause-and-effect scenario because of real-time data. It allows for more visibility into energy usage and cost-per-plant locations.

If you want to have assistance on your digital transformation journey, WalkMe is a great partner to have. WalkMe offers solutions to pre-existing problems and can help leverage all your assets. So, visit WalkMe now for a consultation.

Digital Transformation Of Companies: IKEA, LEGO, and NIKE

Here are some of the initiatives for the digital transformation of companies. Big names like Ikea, Nike, and Lego are just a few examples of firms that have made transformation moves. What can you learn from them? How can these actions inspire you to do something for your company as well? Let’s see more below!

IKEA

Digital transformation can revolutionize a typical organization. One example of that is the Swedish furniture manufacturer.

IKEA is improving its consumers’ shopping experiences. At the same time, lowering expenses thanks to new technologies.

One website helping IKEA is TaskRabbit. It is a website where you can look for someone to assist you to assemble and transport IKEA furniture.

Also, IKEA has chosen to launch a smart home initiative. This includes intelligent kitchen equipment and lights for the furniture industry tycoon.

In the IKEA Place app, the firm also employs Augmented Reality. It helps customers to choose furniture.  And, “furnish” an apartment before completing in-store purchases.

The Space10 initiative is another illustration of IKEA’s digital revolution. The business pitched the concept of self-driving automobiles as a living and entertainment area there. But, IKEA won’t manufacture automobiles. Instead, it will create interior design concepts for them.

LEGO

The first illustration of digital transformation at LEGO was the company’s foray into the video game business in 1997.

Since then, games have been an essential part of brand promotion. Because the games are free, it boosts the promotional effect of the products.

Meanwhile, LEGO is also looking into 3D printing. While most businesses are wary of this technology, LEGO has applied for a patent for this form of printing. All this is to allow clients to take advantage of cutting-edge solutions.

Besides, the company has built a website where customers can submit ideas for block sets. Then, the company will consider releasing the kit if the idea receives a lot of support. It will inspire brand enthusiasts’ ingenuity while also instilling client loyalty.

Moreover, LEGO toys are becoming more modern as well. Advanced solutions, such as sensors, are sometimes included with blocks.

The company is also attempting to bring the worlds of gaming and physical blocks together. How? Yes, by creating a project based on virtual playsets.

NIKE

NIKE, the sports footwear industry’s behemoth, has begun to focus on mobile devices. It employs cutting-edge technologies such as machine learning and recommendation algorithms.

The business has developed a smartphone application that uses a leg scan to help determine the right sort of shoe. The application produces a map of the foot based on 13 data points by scanning them.

Furthermore, the program provides the organization with valuable information. Information that can help create better footwear projects in the future.

The NIKE+ program is also an important company effort. The approach resulted in a considerable boost in sales in Japan.

On the other hand, the NIKE SNKRS application was also successful. Sales of the prestigious shoes have seen an increase by 100 percent.

Yes, NIKE’s digital transformation demonstrates how innovation may lead to a lot of good stuff. Company design teams can work faster by digitizing 6,000 footwear materials. As a result, the company can respond well to the fast demands.

If you’re a business looking to install the same success these businesses have, try consulting with WalkMe’s services. WalkMe can help your digital transformation journey as it gives you the best solution in the ever-changing landscape. So, try and visit WalkMe now!

Top B2B Digital Transformation Trends

There are several trends that facilitate the B2B digital transformation and create new dynamics in an evolving market. Find out the best of those trends here. 

Technology

Like in any other project, the desire to execute digital transformation (DT) isn’t enough. You must acquire and successfully deploy the right technology to be successful. Moreover, management and maintenance skills are also a must. 

However, there is a skills shortage in the IT sector. As result, B2B companies began exploring external possibilities. This has put a deeper emphasis on cloud-based solutions, managed services, and automation. 

Artificial intelligence (AI) continues to be increasingly important. Yet, many organizations still view it as a conceptual technology that may be of interest for years to come. They are still waiting for viable use cases from AI implementation at other companies. Until that time comes, their IT spending will focus on other areas. 

Automation is another popular yet necessary technology in the B2B digital transformation. Many companies have already begun implementing robotic process automation (RPA) projects. RPA is popular in almost any industry due to the many benefits it brings. 

It’s crucial to start small with AI instead of viewing it as a magnificent concept. Starting small builds the confidence and momentum needed for changes. Moreover, B2B companies often achieve faster results in doing so. Concentrate on areas with existing capabilities. Furthermore, clearly define your objectives and acquire executive buy-in to yield quick wins. 

Content 

Consumers don’t recognize B2B companies as much. Content and the creation of brand narratives may strengthen your digital presence while fostering brand recognition. Moreover, it may widen your audience reach and create more brand loyalty. Furthermore, publishing great content establishes your company as a thought leader and expert in the field. 

Leverage this trend by implementing a clear content program. It must define all the necessary aspects that customers will need to make purchasing decisions. This move will result in revenue. 

Data

Data analysis is essential in B2B digital transformation and in understanding your customers better. It will enable you to make better decisions like where to make investments in people and technology. Many companies believe that the more data they have, the easier it is to extract actionable insights. 

While that may be somewhat true, going overboard on collecting data won’t bring anything good to your company. This means you need to extract value from the volumes of data you collect. Otherwise, you’ll turn into a “data-rich, intelligence poor” company. 

The objectives and the resources to implement data analytics must be clear. Furthermore, user and stakeholder requirements (e.g. people that will handle and analyze the reports) will influence the selection of software and services. 

Customer Experience/Engagement

The most important goal of DT is to make customer service better, faster, and modern. This includes finding where your customers are and giving them a personalized experience. 

Marketplaces

The number of marketplaces is rapidly growing. Thus, it is crucial to maintain the integrity of your products that are being sold by third parties. This means you need to implement continuous monitoring, oversight, and diligence.

Helpful Digital Transformation Articles for CIOs

Resourcing from digital transformation articles can help you improve in undertaking DX. More than anyone in a company setting, CIOs are the ones who should be most informed.

So here are helpful digital transformation articles- their titles and overview.

Digital Transformation Articles for CIOs

Best Sites to Follow for Digital Transformation Blogs

In this article, listed are the top websites that provide digital transformation content. This includes the leading company that specializes in DX. So leaders can keep up with the latest trends, news, and evolving technologies.

How Software Walkthroughs Help Digital Adoption Challenges

Digital adoption comes with challenges that made up to 70% of digital initiatives fail. So in this post, it introduces the 4 major causes of digital adoption failure. While it also provides a software walkthrough as a possible solution to counter the challenges.

Digital Adoption Basics: All You Need to Know 2021

Digital adoption has become one of the biggest hurdles in succeeding in digital transformation. This article takes you to digital adoption in full detail. For instance, it discusses what digital adoption is about, why it is important, and how to succeed in it.

The Digital Transformation Office

A part of succeeding digital transformation is setting up a dedicated office for it. But what does an ideal and exemplary digital transformation office do and have? This article will cover that for you.

Digital Transformation Online Courses

Taking digital transformation online courses is an interactive, effective, and cost-effective way to learn while at home. More so, this kind of learning fits executives, DX team members, and DX enthusiasts who have a busy schedule. So this article details the best possible options available today. 

Why Do Digital Transformation Training Matters?

Training matters in all aspects of change. But, how about in digital transformation? This article covers how to effectively train employees in adopting new technologies. Perhaps reading this article before doing any training program can help.

The Digital Transformation In Marketing, Sales, and Service

To get a good grasp of DX, it is helpful to learn how it impacts and how it applies in different industries. For instance, this article covers how DX touches the major industries today. Namely, service, marketing, and sales.

Digital Transformation and its Impact: Banking, Retail, and Insurance

The finance industry is getting more revolutionized by digital transformation efforts. So this article will help you take a closer look at it in its various facets. For instance, you will learn how DX affects banking, retail, and insurance.

Digital Adoption in Covid 19

The Covid 19 is bringing a lot of its toll on individuals, but also on organizations. However, many succeed in digital adoption even amidst the surge of the Covid 19 pandemic. So how can your company thrive along? This article will discuss these points in detail.

Digital Transformation Metrics

To know where you are at in DX, it is important to measure, track, and analyze performance. In short, this involves the digital transformation metrics. So this article will cover all you need to know about the topic.

The Digital Transformation In Marketing, Sales, and Service

The digital transformation across all industries is making significant changes. Not just heightening productivity but also giving customers ease.

Let’s focus on digital marketing, sales, and service innovations from various industries. So, how did these initiatives strengthen client relationships and empower employees?

Marketing

The purpose of digital marketing is to locate more customers for less money.

Great digital marketing generates more high-quality leads. As a result, you are closer to your clients than ever. Whether they’re new to your company or have been loyal for a long time, digital marketing helps.

The transition from analog to digital marketing materials aids these efforts.

Well, digital products are less expensive to produce and distribute than analog materials. Email campaigns, for instance, are significantly less expensive than print-and-mail campaigns.

Second, digital marketing makes marketing automation, analytics tracking, and consumer dialogue possible. And yes, in ways that analog marketing never could.

Marketers can create 1-to-1 journeys that track consumer behavior. Then, tailor the experience to each individual buyer along the way.

Instead of relying on intuition, marketers now have access to data-driven insights

Sales

It’s all about the information!

You have now the capacity to collect vast volumes of accurate data on customer behavior. As a result, it allows marketing and sales teams to approach their business more.

The natural relationship between marketing and sales is looking at consumers as individuals. So, that means observing their behavior one-on-one. From the first touchpoint all the way through the buying journey, it’s important.

Nurture that bond, and magic happens when these historically separate groups work together.

Service

As much as any other aspect of business, the digital world is upending customer service and our beliefs about where service begins and ends.

It goes something like this:

  • From a few upstart applications that hire errand runners
  • hail vehicles for busy city dwellers
  • to a global push to “Uberize the entire economy”

Smartphones, electronic payment systems, and applications have created a smoother world.  As a result, everything you want is a swipe and tap away, 24 hours a day, seven days a week.

Talk about a digital makeover!

Customers expect more organizations to embrace digitalization. So, customers want organizations to make it their primary means of doing business.

For service departments, this entails higher expectations for queries of the customer. That means 24 hours a day, 7 days a week.

But, it also means more chances to please customers and attract new business.

Industry-Wide Digital Transformation

We’ve covered many concrete instances of digital transformation above.

As you know, all digital transformations begin with the transition from analog to digital. Or, the transfer of information from paper to digital.

Following that, these fundamental concepts apply to all enterprises and industries:

  • Get to know your customers through the digital channels they already use.
  • Use data to have a deeper understanding of your customers and the market as a whole.
  • Allow your data to flow freely and intelligence to be shared across your whole organization.
  • Encourage once-separate departments such as marketing, sales, and customer support to work together.

Many industries are benefiting from the digital revolution. Let’s have a look at how these concepts are being implemented in a few examples.

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.

Digital Transformation In Tourism

Why it’s important to have digital transformation in tourism? As you know, tourism was one of the first industries to digitalize business processes. It’s a pioneer in the online booking of flights and hotels.

Yes, tourism was a persistent early user of new technologies and platforms.

But, it needs to maintain its competitiveness, growth, and long-term development. So, a digitalized tourist sector must innovate and create new business prospects.

Digital Transformation And SDGs

The experience will continue to move toward becoming more seamless, frictionless, and high-quality. That is because of the digital transformation in tourism. At the same time, contribute to the United Nations’ Sustainable Development Goals (SDGs).

Tourism has used a lot of technologies on its journey. For instance:

  • the Internet of Things
  • location-based services
  • artificial intelligence
  • augmented and virtual reality
  • blockchain technology

This has resulted in tourism that is more:

  • appealing
  • efficient
  • inclusive
  • economically, socially, and environmentally sustainable than before

With advancements across industries, digitalization has a beneficial environmental impact. But, it can have a greater contribution to a more sustainable industry footprint.

Here are some of the benefits of having a digital transformation in tourism.

Smart Travel Facilitation

A comprehensive smart travel model is first on our list. It is one that encompasses smart visas, borders, security processes, and infrastructure.

As you know, it will revolutionize tourism as you know it. So, it can be comparable to how smartphones have transformed telecommunications and media.

Because of digitalization, passengers may now:

  • buy and check-in for flights online
  • have their boarding passes on their cellphones
  • travel through automated security gates

As a result, it improves travel convenience as well as security.

Smart Destinations

A smart destination is one that has a:

  • technology
  • innovation
  • sustainability
  • accessibility, and
  • inclusion strategy in place throughout the tourism cycle

A smart destination considers both locals and visitors when planning tourism. It also takes into account multilingualism, cultural quirks, and seasonality.

This is why smart destinations are critical to the tourism industry’s evolution. They offer a seamless and exciting experience for tourists. At the same time, manages local resources efficiently.

The secret is to correctly track, integrate, and analyze data. Thus, having efficient decision-making, prioritization, and anticipation of difficulties.

Smart destinations can also improve tourist governance. How? Well, simply by forming inclusive structures. For instance, boards, trusts, or foundations that represent all stakeholders in the destination.

They can assist in ensuring the greatest accessibility. Yes, for venues, products, and services by removing mobility impediments.

It’s possible to look at sustainable tourism management from a variety of perspectives.

Job creation

Because travel is centered on technology, tourism occupations will open. It needs both technical and advanced soft skills.

Yes, the greatest societal impact of digital change in tourism is on the workforce. It accounts for one out of every ten jobs globally.

Intelligent automation will alter the character of some travel occupations. At the same time, it will end others.

But, because the sector is expected to grow, it will create new job opportunities. And it may exceed the automation of existing professions.

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.

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.