3 Key Forces of Change in Digital Transformation Era

The advancement of technology has been a tremendous breakthrough in every sector, the complex algorithm has been used by media for news and content curation and the industrial sector uses artificial intelligence to create advanced automation, as well as data technology has wide range of usage. The digital disruption has impacted the business process in many sectors and forces them to go through digital transformation. This article would discuss the key forces of change in digital transformation era to have better grips of those changes.

Competition

In digital transformation era, competition happens horizontally where a non-traditional competition would appear from everywhere and disrupts the traditional businesses. For example, a mobile phone company can suddenly create a financial technology product that competes with bank resulting many of small company which offer full stack of offerings of a large company.

Customer

Customer expects to have greater democratization of product/service, marketing, sales, and operation that driven by technology. Customer facing many eases created by technology and demands other. For example, the ease of finding technology in transportation is by creating app like Gojek or Grab which provide another product that popular by demand.

Company

Data becomes critical in digital transformation era. Data changes how a company conduct their business, through data capture, dissemination and analysis the unpredictable becomes predictable. New opportunities will be created, and operation efficiency is enhanced. Improvement will not stop when product is released, yet a regular software updates is needed.

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Conclusion

There are three key forces of change in digital transformation era: Competition, Customer, and Company which could help company to have better grips of digital transformation changes.

References

Neil Perkin & Peter Abraham (2017). The Agile Business Through Digital Transformation. Kogan Page (2017)

Pranzo, P. (2020, March 4). What is digital transformation & Why it’s important for businesses. Imaginovation