What is Digital Transformation?

Examples of digital transformation include:

• Adoption of cloud technology to improve communication and enable greater transparency and agility across the organization
• Adoption of Internet of Things (IoT) to gather real-time insights on product performance as well as manufacturing processes
• Training employees on new technologies to expand their skill set and help them adapt to the digital world

Digital transformation is intended to help organizations quickly respond and adapt to supply chain disruptions, global pandemics, natural disasters, and other unforeseen events. It also helps companies improve current processes to keep up with the rapidly evolving market and meet customer expectations.

*Source: https://enterprisersproject.com/what-is-digital-transformation#q2

The four main areas of digital transformation are:

1. Process Transformation – Modifying business processes to achieve goals such as lowering costs, improving quality, and reducing cycle times
2. Business Model Transformation – Reinventing traditional business models to drive revenue and improve the customer experience
3. Domain Transformation – Redefining products or services to create new market
4. Cultural/Organizational Transformation – Changing organization mindsets and skills to adapt to a digital world

*Source: https://www.linkedin.com