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Digital transformation helps organizations become more effective in leveraging data and analytics to power their business models
By: William Schmarzo
Sep. 2, 2017 04:45 PM
Industry after industry is under siege as companies embrace digital transformation (DX) to disrupt existing business models and disintermediate their competitor's customer relationships. But what do we mean by "Digital Transformation"?
In order to achieve digital transformation, organizations need to coordinate and align the following business and technology capabilities:
The digital transformation starts by understanding the organization's business initiatives, and then prioritizing which initiatives are top candidates for enhancement through digital transformation. "Begin with an end in mind" to quote Stephen Covey.
Organizations can then create a digital transformation roadmap that dictates how the organization leverages data, analytics (data science) and application development capabilities to deliver cloud-native "intelligent" applications (applications embedded with machine learning and artificial intelligence to optimize key processes and business decisions) and "smart" entities (that leverage the edge, fog and core IoT analytics to support the creation of "learning" business entities such as cities, cars, airports, hospitals, utilities and schools (see Figure 1).
Figure 1: Digital Transformation Components
In the end, digital transformation helps organizations become more effective in leveraging data and analytics to power their business models by optimizing key business processes, reducing security risks, uncovering new revenue opportunities and create a more compelling customer engagement and creating a more compelling, more prescriptive customer engagement (see Figure 2).
Figure 2: Big Data Business Model Maturity Index
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