The 5 trends driving digital transformation in 2020
Posted: Sun Dec 22, 2024 5:31 am
Digital transformation is more than a buzzword, it’s an imperative.
As the world of work, commerce and leisure becomes increasingly digital, organisations that cannot connect the dots are more likely to lose business to competitors that can.
As a global pandemic threatens to destabilize the economy, the most forward-thinking organizations are finally acting on the need to digitally transform – and they’re improving employee and customer experiences in the process.
Here are 5 trends influencing digital transformation in 2020. 1. Continuous data collection
Data is everywhere – and some say it’s the most valuable resource . Under the right conditions, it enables organizations to deliver truly personalized advertising, marketing, and customer service.
Under the bad, most data goes unused . A global survey of more than 1,300 business leaders found that 55% of the data collected—an amount too large to philippines phone number whatsapp analyze—remains in the dark.
It is not used to improve business results. Rather, it is installed on a server.
This gives an extreme advantage to organizations that use data. Beyond personalization, data has the potential to do what even the hardest-working humans can’t: power countless business processes efficiently and at scale.
For a healthcare worker, this might mean managing patient care in one system instead of three. For a customer service manager, it might mean systematically categorizing support tickets.
As businesses across all industries continue to collect absurd amounts of data, those that embrace digital transformation will not only eliminate inefficiencies, they will also reduce operational costs while improving the customer experience.
2. Strategic mergers and acquisitions
For better or worse, the coronavirus pandemic has impacted every aspect of the economy. While some sectors like travel and restaurants have suffered, others have seen record growth.
To understand the impact this is having on M&A, Harvard Business Review surveyed 50 senior executives and corporate development leaders about their purchasing plans — and their findings suggest that acquisitions haven't stopped completely, but they've become more strategic.
As the world of work, commerce and leisure becomes increasingly digital, organisations that cannot connect the dots are more likely to lose business to competitors that can.
As a global pandemic threatens to destabilize the economy, the most forward-thinking organizations are finally acting on the need to digitally transform – and they’re improving employee and customer experiences in the process.
Here are 5 trends influencing digital transformation in 2020. 1. Continuous data collection
Data is everywhere – and some say it’s the most valuable resource . Under the right conditions, it enables organizations to deliver truly personalized advertising, marketing, and customer service.
Under the bad, most data goes unused . A global survey of more than 1,300 business leaders found that 55% of the data collected—an amount too large to philippines phone number whatsapp analyze—remains in the dark.
It is not used to improve business results. Rather, it is installed on a server.
This gives an extreme advantage to organizations that use data. Beyond personalization, data has the potential to do what even the hardest-working humans can’t: power countless business processes efficiently and at scale.
For a healthcare worker, this might mean managing patient care in one system instead of three. For a customer service manager, it might mean systematically categorizing support tickets.
As businesses across all industries continue to collect absurd amounts of data, those that embrace digital transformation will not only eliminate inefficiencies, they will also reduce operational costs while improving the customer experience.
2. Strategic mergers and acquisitions
For better or worse, the coronavirus pandemic has impacted every aspect of the economy. While some sectors like travel and restaurants have suffered, others have seen record growth.
To understand the impact this is having on M&A, Harvard Business Review surveyed 50 senior executives and corporate development leaders about their purchasing plans — and their findings suggest that acquisitions haven't stopped completely, but they've become more strategic.