Digital is become a necessary part of technological development, so the issue is considered as the hottest things with technology sector in particular and other sector in general. However, digital transformation is known as the next step of digital issue.
Digital transformation, as defined by Constellation Research, is “the way in which organizations transform and create new business models and new cultures through digital technologies.” Furthermore, Ray Wang who is founder and analyst of Constellation said that these business models are creating a market where all the winners will have everything. In an on-demand webinar, Wang noted that more than half of Fortune 500 companies have been merged, acquired or dropped off the list since 2000. Moreover, much of this change can be attributed to the creativity – or not of the new digital business models.
“What we are seeing in every industry, digital industry is taking up 40% to 70% of total market share and 23% to 57% of profit. In some places, if only one or two major companies make up 77% of the profits “say Wang. At the same time, in order to survive and thrive, Wang advises organizations to recognize and transform their paradigms in response to a focused economy after-sales service, on-demand service and dedicated customer care today.
Furthermore, the constant attention to convenience and cohesion applies are not only to customers and employees but they are also to partners and suppliers. Mr. Wang also said “When you sort these things together, you get the digital transition. It’s not just a project. It’s not just a show. It is something that is going on continuously. Therefore, in order to learn more about digital transformation and new trend in recently, you should refer to the post to read useful information.
1. Role of Technology in Digital Transformation
If we look again at the definition of digital transformation and the methodology in which organizations transform and create new business models and cultures with digital technologies 5 technologies have been the basis for this transformation since the 1990s, including
- Mobile phone
- Social Network
- Cloud computing
- Large data
- Unified Communications
Mr. Wang also said that the trend that has had the greatest impact on digital convergence is the transition to cloud computing because it has democratized computer access power. Each and every person can access not only information, storage space and processing power, but we now have access to all the technology around you. When you have access to democratization, you will have plenty of opportunities to create new business models.
Looking at the future, there are six technology trends that will affect the next shift in how we improve our customer experience, improve what we do in the workplace, products and make use of machinery to support people
- IoT – the Internet of things
- 3D printer
- Virtual reality
- Chain String Technology
- Artificial Intelligence / Memory
If you ask that which trend will impact the most to most businesses? Wang believes that it is wisdom and artificial memory. “If you talk to Cortana and use the conversation as a service, you will see the recommendations pop up. Today, people talk to the phone, people talk to their home appliances. “Those devices are learning from you – and all the self-learning and AI lessons will have the greatest impact on business in every organization.”
2. Business Model or Technology
Wang also says that “When we look at digital convergence, people often think its technology, but it’s how you change your business model and how you change the way you connect with how interested parties are.” In addition, “Once you have the right business model, you can find the technology that can assist you. Furthermore, when you combine the two together, it’s time for you to switch to digital. ”
In fact, you can not negate that digital is becoming more popular and develop in almost sectors of technology, therefore, finding the “my digital mate” is always the important things with both newbie and experiencer. Moreover, in order to meet all requirements of technological life, you should read more and refer to new digital each year.