Digital transformation and data go together. If companies fail to see the value of data, they will not see success in their transformation. Why? Let us know in the article below.
Digital Transformation and Data
In doing digital transformation, there needs to be a shift in mindset from pre-digital to post-digital. Data plays a key role in this shift as it is the fuel that drives digital transformation. Data is key to understanding trends, identifying opportunities, and determining where a business will head in the future.
The following are some basic steps to transform a company from a pre-digital to a post-digital one.
- Shift from Pre-Digital to Post-Digital Mindset. In digital transformation, there needs to be a shift in mindset from pre-digital to post-digital as you look at what data means to your business, the kinds of data you have, and how it can be used. There should be a shift from being controlled by data to being able to take advantage of the data that is already there. This includes a shift from being reactive to proactive as you identify trends and patterns that you can use to your advantage.
- Data Inventory. It is important to carry out an inventory of all of the data you have at your disposal. This includes everything from structured and unstructured data such as financial, customer, employee, and vendor data as well as data from social media such as blog posts and customer reviews. It is also important to make sure that all of this information can be accessed through one platform or system so that it is easily accessible whether you are talking about digital transformation or not.
Once you have gone through this process and identified what data you have and how it can be used, then you will need to figure out how to take advantage of it. You may want to use it for measuring the effectiveness of campaigns or explain how certain products or services are selling better than others.
How Data Drives Digital Transformation
Data drive digital transformation by providing the fuel for it as well as by allowing companies to determine where they want their business to go in the future. Companies that fail to see the value of their data will not see success with digital transformation.
They need their digital ecosystem. This includes access to both structured and unstructured data as well as tools for analyzing this data and using it for other purposes such as identifying trends and determining what actions should be taken based on those trends.
Then, companies need an open platform that allows them access to their data rather than having all of their information controlled by another company. The ability to share information with others in ways that they find most effective is also essential for companies to not only identify trends. But also determine where they want their business programs heading in the future through setting goals.
So, in the end, it is striving for a post-digital mindset and building a digital ecosystem that will allow companies to see success with digital transformation.