The COVID-19 pandemic has impacted the world in ways that no one could have predicted.
In the post-pandemic world, organizations are shifting digital precedence to tackle the incursion of challenges and intending for relevance by combining emerging technologies with existing ones.
A lot of organizations need to pivot and strategize, change and adapt the new ways to survive. They need to explore new methods to operate and drive growth. Organizations that are prepared to adapt to the new trends of transformation will overcome all types of disruptions.
Here are the hot trends that are shaping digital transformation in 2021:
Artificial intelligence has come a long way in the last few decades. It is the next big thing for companies. It’s already happening in the enterprise with autonomous drones, computer vision, and autonomous driving. However, the excitement in the consumer space is much greater, with applications in everything from virtual assistants to self-driving cars to customer service applications.
Cyber security has been on the radar for years now, but it has been the focus of much debate, particularly when it comes to maintaining the integrity of the digital world. The costs and impacts of a cyber attack can be devastating; with the notable exception of the largest and most popular attacks, cyber-attacks can lead to critical business, operational, and customer downtime and can be extremely damaging to reputations and business relationships if they are subjected to public scrutiny. Therefore, cyber security will continue to be a significant element of any digital transformation initiative.
Predictive Analytics, or the use of data to optimize future decisions, is a popular topic these days. As predictions for future business growth become more difficult, the need to put analytics in the hands of the decision-makers becomes even more important. According to a recent study by IBM, by 2020, it is expected that 66% of enterprises will use some form of Predictive Analytics.
With the help of these predictions and insights, organizations can schedule maintenance, reduce downtimes, prevent breakdowns, enhance distribution channels by circumventing the middle entities, improve customer support, create new revenue streams, and many more. This proves efficient in building and streamlining an effective supply chain and vendor management system, with all the quality checks in place.
Data and Analytics
In the field of data and analytics, there are two approaches to how to use data: predictive modeling and active learning. Predictive modeling takes data and makes predictions about future outcomes on the basis of past data, such as how many cars a certain model of vehicle will sell. Active learning, however, involves taking action on data that reflects on real-time outcomes, such as using data to determine how many staff you need for your company to be profitable, or how many coupons to give out for a particular product. There is no “right” way of doing analytics, and the right choice of analytics depends on the nature of the business and your goals.
Internet of Things (IoT)
The world is changing. The pace of technological advancement is accelerating. And the use of technology is infiltrating nearly every aspect of human lives. The Internet of Things (IoT) is becoming the new technology that the world is excited about. IoT is a concept that is being used to refer to the network of interconnected devices that are being built with the purpose of connecting them to the Internet. It provides solutions to today’s problems with greater speed, security, and affordability. IoT can allow solutions to be tailored to meet industry needs, such as supply chain management, creating smart factories and buildings, and automating employee services.
The above-written trends are only the beginning. The digital transformation is growing at an exponential rate. It is becoming an intrinsic part of all sectors globally.
To summarize, the corporate journey from “Transformation” to “Innovation” can be accomplished by aligning digital, technology, and business transformation initiatives to support the overarching business strategy. By aligning the technology with the business strategy, a business can become more innovative and deliver better experiences to its customers.