Leader:Digital technologies help companies to alter their business models, transform operations, and create worthwhile customer experiences.
Digital transformation is always transforming, and this year — more so than ever — we will see a surge in businesses making major changes to their digital operations in an effort to boost customer engagement and smooth IT processes.
As reported in SD times, “If the ultimate goal of digital transformation is to more effectively understand, engage, sell to, and support customers, it’s fundamentally a business transformation that requires an extraordinarily strong partnership between IT and business leaders,” noted Rich Murr, CIO of Epicor Software.
We have gathered the top digital transformation trends in 2018.
Over the recent years, news on data breaches involving personal and financial data have made headlines. As businesses, heavily invest in digital payments technology, they need to navigate new security systems. One cannot neglect customer trust with the use of blockchain, biometrics. The risk on security taking a back seat is not worth taking.
Chatbots and automation tools are creating an impression in the mainstream. They have gone beyond the novelty stage and should be viewed as viable components of customer experience and engagement strategies. Going forward, customers are going to expect interactive technologies from businesses. Businesses have begun to recognize that we are approaching a tipping point, so chatbot technology should not be left behind. The rise in adoption will accelerate innovation as software vendors and user organizations desire to make customer interfaces personal and effective. The days of chatbot revolution have begun and will take huge strides in the future.
In a matter of seconds, it is possible to match customers with personalized ads. The companies that engage in “million-second marketing” are using artificial intelligence, complex algorithms and automated tools that make it possible to respond to customer minorities and marketing opportunities swiftly.
Interestingly, on an individual customer basis, automated systems use historical customer data and narrow targeted advertising options to augment marketing opportunities. With this, personalized advertising can be delivered at a better speed.
4.Artificial intelligence will become mainstream in the enterprise
Several enterprises are beginning to implement A.I over traditional computing. A.I allows the computing engine to program itself. This design principle is shaping the course of history of enterprise computing. In 2018, A.I will come into force in the enterprise and everything we do. Companies across the globe are running A.I pilots and projects.
5. Analytics unlock the value of the new economy
Today, the companies that succeed know how to light up data across their enterprise,and unlock smarter insights that drive business outcomes. According to IDC, enterprises will spend $70 billion on big data software by 2020.
That said, through deep, technical and analytical techniques, such as clustering, classification, and optimization, there are certain ways to reveal data to gain better understanding on insights.
Interestingly, clustering comes handy in areas such as fraud protection; classification helps to make business decisions swiftly and optimization can be used in areas such as proactive maintenance.
- Digital transformation a priority in boardroom
Today, digital technologies disrupt the entire ecosystem. For example, digital technologies permit companies to transform their operating models. Organziations need a top down board level approach for automation initiatives.Overall, the top-down approach involveslaying emphasis on digital technologies.