How To Digital Transformation of Product And Services
Introduction
Digital transformation is a buzzword that has become increasingly prevalent over the past couple of years. It’s no longer just a buzz word; it is becoming more and more relevant as businesses across all industries are grappling with how to leverage the power of digital technologies to transform their products, services and processes. According
To Gartner, the global digital economy will be worth USD 18 trillion by 2020 with digital business being one fifth (1/5) of overall GDP by 2025. This means that digital transformation has become inevitable in order for businesses to remain competitive in today’s rapidly changing marketplace. In this article we’ll look at what exactly constitutes digital transformation along with some key areas where you can start implementing these changes within your company:
Digital transformation is no longer just a buzzword.
Digital transformation isn’t just a buzzword. It’s a strategic initiative that can help you transform your business and become more efficient, competitive and profitable. Digital transformation is not just about technology or marketing; it involves every aspect of your organization including products and services, sales processes, supply chain operations, customer engagement strategies–even HR policies.
As part of this ongoing process of change management within an organization there will be opportunities for individuals from all levels within an organization to play an important role in helping drive forward its digital transformation program by providing their own perspectives on key areas such as:
The global digital economy is expected to be worth USD 18 trillion by 2020.
The global digital economy is expected to be worth USD 18 trillion by 2020, up from USD 12 trillion in 2015. The key drivers of growth are:
- Mobile Internet access
- Cloud computing and big data analytics
- Social media platforms and mobile apps (e-commerce etc.)
Digital transformation can also help you develop a distinct competitive advantage.
Digital transformation is not just about technology. It’s about changing the way you do business, think about customers and employees, and interact with them.
The most successful companies are those who have embraced digital transformation as part of their business model rather than simply adding new capabilities on top of what they already had.
According to Gartner, the number of business and consumer devices connected to the internet will reach over 20 billion by 2020.
According to Gartner, the number of business and consumer devices connected to the internet will reach over 20 billion by 2020. This is an increase of almost 50{a6d4e250f4dbd7c38290d51a301669b0b15c2bd58d8474132f85a8137f152abc} from the number of devices connected in 2015, and an increase over 30{a6d4e250f4dbd7c38290d51a301669b0b15c2bd58d8474132f85a8137f152abc} from the number of devices connected in 2017.
This rapid growth means that we need digital transformation now more than ever before.
The speed in which technology evolves is increasing drastically due to a large number of start-ups that are launching innovative new products, services and solutions on a regular basis.
The speed in which technology evolves is increasing drastically due to a large number of start-ups that are launching innovative new products, services and solutions on a regular basis. The number of start-ups has been steadily rising over the last few years. According to statistics by Forbes magazine, there were more than 3 million registered companies in China in 2016, while only 2 million existed five years before that (2013). In addition, there have been reports stating that approximately 10{a6d4e250f4dbd7c38290d51a301669b0b15c2bd58d8474132f85a8137f152abc} of these newly established companies are tech startups with innovative ideas or products entering into markets every year since 2010.[1]
This increase in entrepreneurial activity has led to an exponential growth in competition among businesses all over the world; this phenomenon drives innovation as companies strive for better ways to attract customers through better products/services at lower prices while maintaining quality standards at all times!
Businesses that leverage this shift in consumer buying patterns are able to achieve competitive advantage or differentiation in the market place.
Businesses that leverage this shift in consumer buying patterns are able to achieve competitive advantage or differentiation in the market place. A business that leverages this shift in consumer buying patterns is able to achieve competitive advantage or differentiation in the market place.
Digitally Enabled Products and Services have transformed businesses all around the globe
The digital transformation of products and services has been a buzzword for years. The global digital economy is expected to be worth USD 18 trillion by 2020, according to a report by Forbes Insights and Google. This presents you with an opportunity to develop a distinct competitive advantage in your industry by embracing digital technologies, but it won’t happen overnight. In fact, there are several key steps you should take if you want to successfully implement such changes within your business:
Conclusion
In conclusion, we have seen how digital transformation has changed the way companies operate and interact with their customers. From developing innovative products and services to delivering them in a seamless manner, there are many ways in which businesses can leverage this shift in consumer buying patterns and achieve competitive advantage or differentiation in the market place.