In the modern-day, business is changing. One of the biggest catalysts behind this change is technology. More and more companies are going digital than ever before for many of their operations. This is called a digital transformation, and this is essentially when companies use technology to create or change processes, culture, customer experience and much more.
This is all done to keep up with competition and meeting the new and constantly shifting requirements of the market. Revenue in the digital transformation space is already believed to be at over $1 trillion, and this is expected to rise well over $2 trillion within a few years. So as you can see, lots of companies are embracing the transformation.
However, successfully transforming digitally isn’t always the easiest and there are plenty of roadblocks that you could encounter. These mistakes or miscues can be expensive, time-consuming and really hurt the productivity of your company. With all of that in mind, this article is going to look at some of the biggest digital transformation must-haves for 2020 to ensure everything goes smoothly.
Being Able to Successfully Analyze and Use Data
While companies hold and maintain a lot of important things, few (if any) are more important than data. This data can include a variety of information about your customers like where they live, their email, their behaviors and interests, and their personal information. You can also collect and analyze data on how your company has been run, what has worked, and even what could use improvement.
In order to have a successful digital transformation, you need to be able to analyze your data quickly and accurately. This data can help you make a wide range of different business-related decisions. Data can help you launch products, better the experience of your customers and even decide which marketing campaign should be run.
Embrace Automation and All of Its Benefits
Nearly every company has a number of different mundane duties and tasks that need to be done. This could be filing, filling out forms, performing checks or answering customer emails. As you could imagine, automation can greatly improve efficiency and reduce the amount of time spent on mundane tasks. This can also free up employees to focus on more important, detailed or pressing matters.
Innovations like A.I and machine learning have harnessed the power of automation. This can allow companies to do a range of things automatically, such as using a chatbot to answer and respond to customer concerns. Even using a log analyzer for AWS can allow you to automatically check logs and ensure that any issues or errors can be found and dealt with rapidly. Simply put, automation is a huge help for most businesses during their digital transformation.
Using the Cloud and the Remote Workforce
The cloud makes it easy to work anywhere. By utilizing the cloud, all of the files, data, and information of your company are stored and secured in a virtual environment. This allows anyone with the internet (as long as they have the right passwords, links or permission) to access it. While the cloud isn’t exactly new per se, it could have great importance in 2020 and beyond thanks to the remote workforce.
By utilizing the cloud, you will gain access to thousands of freelancers, third party outsourcing companies and remote workers that can help your company in countless different ways. This can give your business a lot of flexibility, and outsourcing can often yield better results for a more cost-effective price. Outsourcing or using remote work can also reduce the overhead costs of your company at the same time.
Of course, if you do plan on outsourcing or using remote work, be sure that communication is solid. You need to make sure everyone (even remote teams) are on the same page about their roles and duties. As a result, having a strong communication or collaboration tool (such as Slack or Asana) can go a long way in keeping everyone in the know.
Ensure Your Security is a Priority
While security should always be a concern and priority for a company, this is truer in 2020 than ever before. Hacks, information leaks, and data breaches are on the rise and could put your company at risk. Even a single breach, hack or leak can cost your company a ton of money, along with your good reputation.
Also, anytime your business is going through a transformation, security is even more important than ever. Standards and policies change frequently during a transformation, so you need to make sure your data and information aren’t at risk. Before taking on any other part of your digital transformation, be sure you have all the security and privacy details all ironed out.
IoT Can Speed Up Your Digital Transformation
The Internet of Things (IoT) is all about machines, computers and other devices being able to transfer data to one another without the need for human intervention. There are billions of these devices out there already, and more expected in the future. While this can have benefits at home and in our cars, it can also help businesses to succeed.
One of the biggest benefits of IoT for business is the sheer amount of data that IoT devices can seamlessly transfer to one another. IoT can also lead to increased productivity numbers, lower costs of operation for your business and can even allow for new business opportunities. Many large companies have begun to use IoT for their digital transformation efforts, and it would be a good idea for your company to do the same.
In conclusion, we hope that this article has been able to show you some of the must-haves for your digital transformation in 2020. A digital transformation isn’t always easy, but if you utilize the things within this article, it can be made much easier. Of course, there are additional practices, technologies, and tools that can help your digital transformation, but we believe that these five are must-haves.