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Author Vadim
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Digital Transformation

To be effective you have to run fast, and to be a leader — you have to run at hyper-speed. Previous models and business processes are becoming ineffective, old methods of communication do not work. Patterns of consumption of products and services are changing. Communication rules the world.


Today, almost everyone, in one way or another, uses gadgets and modern digital services from social networks to television and entertainment. It would be strange to assume that in this new digital economy, business is able to operate with the old model, with traditional processes and with the same efficiency.

Digital transformation (DX) — this trend has already firmly entrenched in the programs of the largest panel discussions at economic forums and specialized conferences. The potential of this market is enormous. Today, we estimate that more than 60% of the world's largest corporations are already working on their digital transformation strategy.

The most important driver of changes is the consumer. That is why digital transformation is not a service of consulting companies, but an inevitable process that is going through the global business, adapting to the new conditions and preferences of the digital economy.

Why does business need the digital transformation?

Digital transformation is a meaningful strategic process of changing business in the face of the challenges of the new digital economy. A set of transformations through the introduction of an innovative culture in the company, adaptation of business models, wide use of data, client-centricity and value management, and you will take:

  • The reduction in the use of resources
  • Optimization of motivation systems
  • Decrease in costs due to the transparency of the flow of information

Digital transformation strategies are based on several modules that are present in the business of each modern company:

Customer service

To understand the consumer in the business, you need to implement omnichannel tools, analytics, variability, adaptability and forecasting. Only with this approach your business can be effective tomorrow, respond to changes in the market. Today, a customer is there, where he feels convenient, comfortable and is quickly provided with the product or service. Accordingly, businesses need all the tools and the ability to adapt to the rapidly changing culture of consumption and communication.

Partnership and collaboration

Digital transformation is based on the principle of infrastructure development as a platform. An important component of this concept is the principle of open API and flexible integration. This allows businesses to find new innovative breakthrough solutions in the development of their products and services through collaboration and integration with other services and partner companies.

Today, it is inefficient and long to develop individual basis service, it is enough to have the possibility of integration and strategy of the joint product. 
Digital partnership is becoming an important scaling factor that allows companies regardless of geography to conduct business anywhere in the world.

Work with data

Big Data is not just a trend, but a working tool, without which it is impossible to imagine the work of a modern company. Based on the data today, customer behavior is simulated, demands are predicted, preferences are formed, and even products and services are adapted. 

Today, Big Data, artificial intelligence, neural networks are a part of services of financial companies, retail and medicine.

Introduction of innovations

Thanks to digital technologies, we are experiencing a transition from a pre-design model to a continuous experimentation model. While previously the product was the result of a large preliminary market research and expert formulation, today, the possibilities of digital technologies and the speed of changes in the markets force businesses to constantly try and test their solutions.

Value

Using DX will transform the value of your product to the customer. For the customer it is fundamentally important to purchase products and services fully and remotely, to receive operational support around the clock and without visiting offices. 

At the same time, the economic model, the business structure and the scaling model are changing. New opportunities in rapid development without regional expansion in the form of construction of offices and points of sale are now available to business.

Digital transformation is not a service of consulting companies. It is an inevitable process that goes through the global business to adapt to new conditions.
Today, more and more executives and entrepreneurs are aware of the need to change their business. Companies that will not engage in the digital transformation of their business - tomorrow will be ineffective and simply disappear under the pressure of new market realities and more pragmatic "digital" competitors.

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