Digital transformation, today’s most common buzzword among IT leaders, is a step toward achieving rapid growth in feasible time frames. It is an initiative every organization is looking at to stay competitive. Then, what is the way forward for the Digital Business Transformation (DX)?
The instrumental role in this DX journey that most IT leaders speak about is ‘Data Strategy’.
Global-level surveys show that the leading transformative companies believe in ‘four important traits’ for success in the DX trend.
- True transformation
- Transformation in customer-facing functions first
- Investment in next-gen technology through bimodal architecture
- Be talent-driven
Let’s take a look into each of these four traits that DX leaders consider as a key checklist to applying ‘data and analytics’ for successful digital transformation:
1) True Transformation
This is not just for the IT team! Successful DX leaders recommend the ‘true transformation’ that completely transforms the organization. This can be a change in organizational structure in line with the new transformative approach, long-term objectives backed by senior management support, and timely investments in relevant next-gen technologies.
2) Customer-facing Functions on Priority
Customer experience is the top priority in the digital trend, and organizations that focus on it enjoy a competitive advantage. 92% of successful DX leaders say they have mature DX processes and initiatives focused on enhancing customer experience, while 70% report a positive impact on the business in real time.
As a result, data analytics and related tools are becoming helpful in collecting data to target and keep users engaged.
3) Investment to Drive Analytics-based Processes
Besides the transformation process, DX leaders are keen on recruiting the right talent to drive it. More than 45% of leaders consider investing in digital skills and technology the top priority, with a focus on recruitment and training in competing skill sets.
Some reports support this argument, showing possible signs of a lack of skilled personnel to deal with data. This greatly worries DX leaders, who report a lack of skillsets to drive their DX initiatives. Considering the significance of data and analytics in driving DX trends, recruitment and training top the priority list!
4) Collaboration Across Departments
Cross-departmental collaboration is key to success in the business transformation journey. It is a holistic approach that should involve a single agenda with an interrelated set of goals and short-term objectives linked to larger missions. Though IT can be the core driver, transformation belongs to everyone in the organization. As a driver, IT should be able to explore and enable teams to explore and analyze data.
Data and analytics usage for corporate strategic initiatives involve collaboration among Operations (61%), Finance (52%), Sales and Marketing (49%) and Human Resources (43%) teams.
EndNote
Digital transformation strategy leaders with these key qualities are reportedly 2.5 to 4 times more capable of generating more excellent value through next-gen technologies. One of the primary technology areas they focus on is Big Data and analytics, with over 90% of digital transformation leaders and 60% of non-leaders already investing in this area.
These statistics position Data Analytics as a crucial driver of business success in digital transformation initiatives. By harnessing the power of data, organizations can gain actionable insights, optimize operations, and enhance decision-making capabilities.
Partnering with expert digital transformation services specializing in data analytics can unlock significant value for businesses looking to stay ahead in their digital transformation journey. These services help organizations implement the right analytics tools and leverage data to improve performance, identify growth opportunities, and deliver a more personalized customer experience, ultimately driving business success.
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