Digital transformation : The Necessity
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The document discusses the necessity of digital transformation. It states that emerging technologies like mobile, social media, and real-time data are disrupting customer journeys and requiring companies to alter how they connect, communicate, and share information with customers. It emphasizes that to successfully transform digitally, companies need the right strategy, capabilities, culture, organization, and talent to adapt to this new digital landscape.
Digital transformation : The Necessity
- 1. Digital Transformation : The Necessity
- 2. Digital Transformation : Why it is needed Source: MIT’s Center for Digital Business and Capgemini report “The Digital Advantage: how digital leaders outperform their peers in every industry (http://ebooks.capgemini-consulting.com/The-Digital- Advantage/index.html)”
- 3. Digital Transformation : The Disruption Impacting the Customer Journey and Lifecycle The Golden Triangle : With in the Wheel of Disruption, the Golden Triangle is encircled by other emergent technologies and sectors effected by mobile, social and real time such as Big Data, Geo-Location, Cloud, and more. The result of this intersection (social, real-time, mobile) is completely altering how people • Connect, • Communicate, and • Discover information, which, in turn, affects the entire customer journey and lifecycle
- 4. Digital Transformation : What is our Digital Quotient Strategy Vision Goals Short-Term Mid- Term Long-Term Culture Mind-Set Behavior Organization Structure Processes Talents Capabilities Tools Skills Technology
- 5. Digital Transformation : Getting the Strategy right Opportunities ThreatsDigital Disruption Where ? What are the best Responses to Embrace them ? Best Responses to reallocate the resources away from them ? How Soon ? What Scale ? Where ? E.g. Boosting the effectiveness of existing business models through digital approaches and tools. Disney resorts and theme parks, the Walt Disney Company uses Magic Band, a tech-enabled wristband for reservations and customer routing helped them to host 3000 more guests each day E.g. Aggressively reallocating resources from digitally threatened assets to more digitally interesting ones Bauer Media Group, in Germany, has systematically reallocated resources away from potentially vulnerable analog media assets to develop a portfolio with a digital advantage resulting higher topline growth and market capitalization Some Digital Strategy Examples : 1. Bold long-term orientation vs short-term financial-performance imperatives : a. Take Calibrated Risks b. Invest at Scale 2. A Relentless focus on customer needs helps companies innovate constantly where it matters most. 3. Working Coherently with Business Strategy
- 6. Digital Transformation : Building the Capability Modular IT Platform Identify Gaps and Kill them Agile Technology-Delivery Skills Quick & Relevant Deliveries Two-Speed IT Operate in dual mode : Risk Mitigation • A specialized, high-speed IT capability designed to deliver rapid results • A legacy capability optimized to support traditional business operations. Connectivity Rewarding Customer Experiences • Deeper connections between a brand and its customers using technologies such as apps, personalization, and social media Data Empowered Decision Making Skillfully Utilize Resources • Anticipate emerging Customer behavior & Interaction patterns • Integrate structured data (demographics and purchase history), with unstructured data (social media and voice analytics). Process Automation Better ROI and improved customer satisfaction • Automating well-defined processes, iterated as test-and-optimize releases. Capability
- 7. Digital Transformation : Developing an Agile Culture External Collaboration Develop Collaborative Cultures across Boundaries • Analyze what we are good at and what others might do better and to improve the ability to partner collaboratively with people and institutions Internal Collaboration Teamwork and collaboration Within • Teams participating in collaborative experimentation, tinkering, and innovation. Test & Learn – at Scale ! Test-and-learn mind-set • Learn, track, and react by putting something into the market quickly Appetite for Risk Tolerance for Bold Initiatives Respond to Disruptors • At the earliest • In the most decisively manner Agility
- 8. Digital Transformation : Organization Coherent Practices Talent The Real Treasure • A creative perspective to training and nurturing Talent Non-Traditional Structures The Digital Re-organization. • Carefully & deliberately build the current digital landscape. • Plan Out the move to Capture the new digital growth. Real Time Monitoring! Track & Monitor Digital Key Performance Indicators Frequently Organization