The World Went Digital and Businesses Must Adapt

The world got digitized, now businesses must respond to that.

How can a business pretend that they can continue their processes as they were – when those processes were made for older decades where manual processes, automation, personalization, and even optimization was not an issue?

Some valued highlights I took away from Esteban Kolsky's blog - THE FOUNDATION COMPONENTS FOR DIGITAL TRANSFORMATION

The Shift

• Customers are in control
• Content, data, and knowledge have all gone digital
• Business is cyclical
• Generational Shifts Giving Way to Paradigm Shifts

Business Cycles Are Ending-Restarting

• ERP implementation (some 25-30 years ago) which was about automation and digitizing the work organizations did to stay alive;
• CRM Implementation (some 15-20 years ago) which was about digitizing interaction of customers;
• Internet Implementation (some 10-15 years ago) which was about bringing digital information from all over the universe to the organization; and
• HR implementation (past 5-10 years and ongoing) about digitizing relationships with employees

Executive Conversations

Digital Transformation conversations between consulting firms that get it and their clients:

• There are executive level and CEO level conversations about this;
• The four trends above are being discussed in the context of changing the organization;
• There are early steps taken by competitive-advantage driven early innovators;
• There are some examples starting to see the light of day.

This is the next change coming to business over the next decade: adopting and implementing Digital Transformation.

Layers

1. Information Layer

   1. Data - Customer / product identifying
   2. Knowledge - Static data, things we know to be true and use to make a point
   3. Content - Static knowledge, approved and usually has specific format

2. Experience Layer

   1. Experiences, not customer only, is something that all organizations must embrace for all stakeholders.

3. Analytics Layer

   1. Optimization - improving processes and functions, even innovating by finding new and different ways to do things
   2. Personalization - make sure that each user gets what they need, when they need it, as they need it – and no more or less
   3. Automation - leverage the optimization and personalization to take some of the interactions away from users and traditional processes and allow them to happen automatically

4. Interfaces Layer

   1. APIs
   2. Connecting All things "Legacy"
   3. Accessibility: Mobile, desktop, internet-of-things, laptops, tablets, and just about anything else that may have access to the DT platform and needs information from it.

Looking forward to more research and feedback from organizations going through Digital Transformations.

Also looking forward to Mountain Point having some great case studies to share as we continue engaging with clients on their Digital Transformations!

More Info / Sources:

thinkJar Blog

Diginomica