November 16, 2021
The technologies that drive digital transformation are far from new. IoT began its development back in the 1970s. At that time, sensor data was used to control edge devices. Professors in American universities were already lecturing on machine learning 30 years ago. But it’s only now that their usage is paying off in business—with cloud systems, AI, and smart automation. There are several reasons for that.
First, the technology itself has become more accessible. For example, Amazon has provided businesses with access to AWS cloud services. Microsoft, with its Power Platform, supports civilian programming. Developers with limited expertise in machine learning can now use Cloud AutoML from Google to train high-quality models for their business needs.
Secondly, data storage has become cheaper. Acquiring and processing data is now much easier than ever. This creates the abundance of data needed to improve the accuracy of ML algorithms. What’s more, now you can simply buy data for better training of algorithms.
As a result, technologies and data have become available to businesses.
In this article, we’ll show you four amazing digital transformation examples. We’ll also provide you with some tips on how to create a successful digital transformation strategy for your business.
Companies that plan to transform their business with digital technology can do it in four main areas:
If you’re considering a digital transformation for your business, you need a well-thought-out strategy. It should contain a vision of what the business is transforming from and into, and why you are transforming.
Otherwise you can repeat Ford's bad experience. In 2015, they created a new business unit called GE Digital to make the most of their data. The problem was they had no incremental strategy. Trying to transform it all at once, they spent $ 900 billions dollars to no avail.
A good digital transformation strategy will make a difference in the mind of a customer. This will help you create a new sustaining competitive advantage and carve out a new niche in the market.
Are you already thinking about transforming your business? The following guidelines can help you prosper in the digital world.
Digital transformation is more than just adding technology. Sometimes it's a fundamental transformation of all business areas of the company. Luckily, you don’t have to manage it alone. Our digital transformation experts will help you ideate your solution, understand emerging technologies, create a detailed roadmap, and deliver your first PoC or MVP solutions.