Learn about the latest digital transformation trends that help businesses continue to grow & learn how to stay relevant in this constantly evolving digital landscape.
Remember Blockbuster video? I get nostalgic just thinking of the days when I’d pick out a movie (hoping the one I want is in stock), making sure to be kind and rewind and return on time.
Nostalgia is about all that’s left of Blockbuster, aside from a cautionary tale on why digital transformation is so vital to the success of a company.
Digital transformation is the process of adopting and integrating digital technologies to improve business processes. It involves automating processes, enhancing customer experiences, leveraging data and analytics for informed decision-making, and adopting new technologies to improve efficiency and productivity.
Let’s use Netflix as an example. By moving from a traditional DVD rental model to a streaming service, Netflix has provided customers with instant access to a vast library of movies and TV shows, all at their fingertips (RIP, Blockbuster). This shift has also disrupted the traditional television industry, forcing networks to adapt to the changing viewing habits of consumers.
Digital transformation goes far beyond just making “everything digital”; it’s about understanding existing tools and leveraging them to boost company efficiency.
As AI & our use of it continues to evolve, the landscape of digital transformation is poised for significant changes. Here are several key trends that we expect to shape the way that businesses operate and interact with customers:
Here are some specific examples of how these trends might look in the upcoming year:
These are just a few examples of how digital transformation is expected to shape the business landscape in the coming year. Business models that embrace these trends will be well-positioned to thrive in the ever-evolving digital world.
The digital transformation landscape has changed considerably over the years. The challenges faced even five years ago differ from what we face now. Here are some challenges to look out for (and our suggested solutions):
Cybersecurity threats are getting smarter and more common, putting businesses at risk of data breaches, ransomware attacks, and phishing scams. It's imperative that you stay on guard and invest in strong cybersecurity measures to protect your data and systems.
As data privacy rules get more and more strict, you'll want to make sure you are crystal clear on how you collect, use, and share data in order to avoid legal issues.
Artificial intelligence (AI) is a powerful tool, but its rapid growth raises concerns about its possible misuse. You'll want to establish a clear plan for how your teams can use AI and the ethical boundaries they'll follow.
As digital tools increase by the day, it's difficult for workers to stay on top of what's new. You'll want to invest in training and development programs to equip your employees with the digital skills they need.
One simple way to do this is by using a Digital Adoption Platform (or DAP). A DAP lays on top of any web enterprise platform and offers in-context support to users. You can walk them step by step through processes, give them interactive walkthroughs, provide one-click access to support articles, and more.
Remote work arrangements increased significantly in recent years, and the work landscape has shifted as a result. Companies must adapt their HR practices to these shifts, creating policies for remote work and preparing employees for any work environment changes.
You'll constantly face the risk of becoming irrelevant if you aren't on top of what's new. That's why it is important to keep up with the latest news and resources.
But watch out: you don't want to jump compulsively towards the latest shiny software tool.
Instead, when considering a resource, lay out a clear change management plan to ensure that it aligns with your company goals and business outcomes.
Here are some resources to help you stay on top of digital transformation news:
Remember that successful digital transformation is not a one-time event; it's an ongoing journey of continuous adaptation. Stay on top of what's new, continue to evolve, and embrace the digital future.