It is no longer news to anyone that digital transformation has become an unavoidable topic on organisations’ agenda. The pandemic highlighted what all market leaders had identified and recognised a long time ago: digital is the way, the only way forward. There is no other possible strategic direction rather than to opt for the technological optimisation of the organisations they lead.
The scenario of uncertainty that has set in, and is still perpetuating, has imposed on companies an abrupt and permanent test of responsiveness, resilience and flexibility. The previously existing strategies were tested and rethought, before a total reconfiguration of trends, habits, patterns and customers’ needs.
The companies were thus called upon to respond to a framework of unprecedented agility and readjustment challenges, which implied changes of lesser or greater depth in the business models, structures and processes.
In this context, disruptive technological solutions have proven to be an undeniable game-changer by making it possible for companies to remain competitive in the face of the current scenario and the economic crisis that lies ahead. Digital tools and products appear as the necessary bridge to overcome the challenges experienced, streamline processes and guarantee success in adversity. It is a fact that the organisations that today are more efficient in the market are those that invest in innovation and the development of their digital skills.
Data Analytics and Artificial Intelligence solutions allow, for instance, essential business indicators to be identified, monitored and analysed in detail, as well as market trends and customer needs. Automating processes, identifying patterns, reducing costs, managing risks, developing assertive marketing strategies are just a few more examples among the multiple benefits connected with this sort of solutions.
Reconciling process automation and strategic decision-making, with a strong reduction in costs and increased business performance, it is something reachable to all companies that have a data-driven vision. It is necessary to extract all data usefulness and value, and employ technological solutions to optimise the information flow, monitor the most relevant indicators and unlock access to insights, essential to any agile and capable company.
Also, with detailed data analytics, it is possible to identify the difficulties that may arise, thus managing to define strategies and rethink costs. Identifying unnecessary expenses without compromising quality, betting on more targeted campaigns that will bring a good ROI or automate routine tasks, which will bring more productivity and transparency, are some of the advantages that Data Analytics and AI solutions allow.
Now, digital has gone from a tendency to demand, and innovation must be at the centre of the priorities of the managers’ performance in all sectors, more or less traditional. The path to follow is definitely this one, and whoever takes a long time to enter the race, risks not being able to cross the finish line.
Opinion article published in PME Magazine – March, 2021