According to IDC FutureScape Report: Forecasts for the Global IT Industry by 2020, until 2024, more than 50% of all IT investment will be directly geared to innovation and digital transformation (up from 31% in 2018), growing to a 17% TCAC (versus 2% in the rest of IT).
However, what is Digital Transformation, and what impact does it have on everyday life and business results?
Digital transformation is a unique opportunity for organizations to remain competitive in the market, streamline their processes, reduce costs and increase revenues.
Integrating technology across the organization inevitably involves all employees so that processes become automated, creating new responsive workflows, and offer unique experiences.
Big Data, Cloud, Augmented Reality, and Artificial Intelligence are some of the concepts that remain in the organization’s life for 2020 and are catalysts for innovation and disruption. Digital Transformation is not a trend, it is a guarantee of survival in a global marketplace, which translates into higher efficiency and productivity, and must necessarily be in the decision-makers’ agenda.
Technology Solutions have brought more intelligence into organizations, facilitating processes, reducing costs and supporting strategic decisions based on reliable and accurate information.
Therefore, looking at the immensity of data produced today, using disruptive tools is crucial to the success of your organization, as it brings higher efficiency, productivity and dynamism, as well as adding transparency and reliability in decision-making. Presently, managers can promptly obtain a 360-degree of the organization, allowing them to react quickly to any opportunity or challenge.
No matter what industry your organization is in, it is crucial to integrate Data Analytics Solutions to create a digital culture and engage employees in this structural change, that impacts the organization as a whole. Adding Machine Learning and Artificial Intelligence make data analytics more intuitive, reliable and easy to use and is expected to become even more accurate by 2020.
Also, Digital Transformation is very relevant to the customer relationship and the impact of the service it will provide. Today’s customer is dynamic, informed and seeks to have the best purchasing experience possible. This brings new challenges to brands, which must steadily seek to meet their customers’ needs and trends, and provide agile and personalised responses, and simultaneously give engaging experiences.
Only technology opens up today countless possibilities for organizations by allowing them to get to know their customers and prospective customers better, to create unique services/products aligned with market expectations and needs, as well as provide most impactful marketing and sales strategies.
A few curiosities…
- 97% of worldwide organizations currently have, or are planning to have Digital Transformation initiatives
- 65% of consumers would like to use messaging services like WhatsApp or Facebook Messenger to interact with organizations
- 75% of consumers are more likely to purchase from an organization that knows their name and purchase history and recommends products based on their preferences
- 25% of consumer service operations will use virtual assistants by 2020
- 53% of consumers are willing to let retailers analyse their purchasing behaviour inside and outside of the stores, especially if it means personalised offers and promotions
- 93% of business leaders say delivering a meaningful and reliable customer experience will be critical to their overall business performance over the next two years
Have you thought about the changes that technology will bring to your organization, making it more competitive and innovative?