Digital transformation
Digital transformation is the journey in which organizations seek to leverage technology and data to achieve financial returns. This is typically done by using technology to harvest data with automation, quality control, and meaningful insights. The outcome is a modern business model that creates new business opportunities. It offers a value-driven, customer-focused approach. The quicker you execute the data insights derived, the faster you achieve value, whether in the form of profit or operational efficiencies that drive down cost. There is constant pressure to execute rapidly or risk losing business to competitors. Organizations that implement a digital mindset understand the tremendous value and the survival need to become digital. Businesses that do not grasp this are in danger of getting left behind, while digital companies thrive and keep up with a fast-paced market. An article on the MIT Sloan Management Review agrees with this premise.
