digital transformation - ghdrako/doc_snipets GitHub Wiki

Digital transformation is the application of digital capabilities to processes, products, and assets to improve efficiency, enhance customer value, manage risk, and uncover new monetization opportunities. There are many digital capabilities driving this, such as artificial intelligence, cloud computing, Internet of Things (IoT), big data analytics, blockchain, and more.

The essence of digital transformation lies in becoming a customer-centric, data-driven, and agile organization. It entails ensuring that key decisions, actions, and processes are guided by data-driven insights rather than just human intuition.

Digital transformation must be viewed as a continuous journey, requiring a strong digital strategy and adaptive execution to respond to changes through iterations and continuous learning. A crucial factor in being adaptive is achieving operational excellence, which involves optimizing and maximizing efficiency across all resources leveraged to operate your business. By embracing operational excellence, organizations ensure their flexibility and responsiveness in the face of advancing digital capabilities and evolving external environments.

According to a study, digital companies achieve 1.8 times higher earnings growth. Technology advancements mean that digital companies have greater productivity improvements, better customer experiences, and stronger innovation.