What is digital transformation? If you ask me, it is simply taking anything that isn't a 1 or a 0 and turning it into a 1 or a 0. Because if its a 1 or a 0, it's data and you can compute it. If you can compute it then the sky is the limit!
Organisations who adopt digital are winning
As consumer live an ever-increasing amount of their lives online, they are demanding more personalised services to meet their needs. However, for organisations, being customer centric comes at a cost. One-way organisations are addressing this is by adopting digital solutions. Organisations who are adopting digital solutions are seeing greater brand loyalty, business agility and reduced operating costs.
They are also seeing the number of systems they operated and the data they collect growing exponentially. And while becoming customer centric means individual applications have a shorter life span – new long-term value is being discovered in the data.
Becoming data driven
Once a biproduct of business processes, data now delivers significant value for organisations. This has resulted in leading organisations establishing Chief Data Officer(CDO) roles that report directly into the CEO. CDOs are tasked with enabling the organisations vision to become more data driven, using insights and predictive analytics to support operational and strategic decision making.
But another characteristic of digitisation often hampers the efforts of CDOs; the ever-increasing rate of change.
Traditional approaches that only consider data at the end of a process fail to meet the velocity requirements of a digital business. Organisations must begin to consider data throughout an organisation’s hierarchy, and at every stage of a programme’s delivery.
Want to start on a data driven digital transformation?
Get in touch today!