Digitisation is the process of business evolution due to the digital technologies introduced in the business process. The digital transformation era arrived with new-age innovations today, but it dates back to the last century. It began with the innovation of the first computers in the 1950s.
Though Charles Babbage invented the first computer in 1822, still, the digital era didn’t arrive until the IBM 305 RAMAC arrived. It was the first commercial digital computer introduced by the tech giant IBM in 1956. The world was stunned with the (then) new technology, yet it was way different from the portable computers we see today.
It was the size of a desk, not a desktop computer, but a whole desk, yet it was the closest to a compact computer system humans attained in the 1950s. After this era, digitisation improved computer systems and made them more compact. Hence, here we are many decades later with the laptop, tablets and phones we own today. But, did digitisation stop? Has it reached its peak? We’ll shine a light upon the present aspects of the digitised world and see examples of digital transformations in business through this blog. Read forth to learn more about it.
Digitisation of business is implementing modern technologies in the existing business operations or creating new processes to enhance an organisation. There are various needs for digital transformation like business requirements, increasing productivity, socio-economic factors, and just to keep up with the trends.
The digital cloud data in Australia has over 140
billion Australian dollars input in the GDP, which
is expected to reach 250 billion by 2025.
The digitisation of businesses in this digital era equips them with essential tools to keep up with the market trends and attain an edge over the competitors. Such transformations transcend the fundamental roles in business like finance management, service strategy, sales, and the primary aim of the business, i.e. engaging new customers.
The incorporation of new-age technology provides leeway to re-evaluate the existing processes and strategies in the business. Doing so often results in increased revenues and enhanced customer experience. By implementing new technologies, a business can branch out its network to various sectors and grow exponentially. Here are the four major pillars that shoulder the digital transformation in business:
Transforming a business process includes many similar steps in the business management process; these are just more large-scaled and fundamental. Various steps of process transformation include:
The basic model of any business is concerned with the find=damental objective of the business and the future scope for them. For example, Youtube’sYoutube’s business model is based on getting more engagement and views on their platform. Similarly, Spotify’sSpotify’s business model is earning more weekly or monthly listeners/subscribers. By transforming or modifying their current business model, organisations can create more scope for business growth and spread their network.
Domain refers to the site’s address like your type to refer to a specific website, xyz.com. Though it seems like a mere name for a website, it is very important for business transformation.
When businesses undergo domain transformation, it means they are expanding their services; for example, Google is prominently used for searching, yet it has other platforms for video, images, audio, maps, ect. Domain transformation is a very effective strategy for the digital transformation of a business process, and it results in bigger and newer opportunities for a business.
Digital transformation is concerned with more than just upgrading the technology and repackaging the products. Businesses must accordingly plan their transformation with the company’s values as it can adversely affect the organisation’s environment. From the inability to adapt digital transformations to low productivity, there are various negative effects that a digital transformation can entail.
These are the four major scopes for the digital transformation that businesses can initiate, yet various aspects of such transformation must be planned effectively. The major drawback of implementing such a transformation is the employee's adaptability and the resulting low productivity.
Companies like Google Inc are the best examples of digital transformations in business as the average age of the employees in the company is thirty. That is the continuous digital transformation that is foreign to older generations. It’sIt’s necessary to keep up with the trends to know the new age technologies and their future scope. We’llWe’ll expand on such trends in the next section.
According to Forbes, the average age of staff
members in 2017 was thirty, ten years younger than
the national average age in the U.S.
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Business transformation is a process that requires drastic changes in the current model and the implementation of new technologies to enhance the user experience. It requires extensive knowledge and planning to implement such changes. In hindsight, greatly changing the fundamental processes in a business is not possible without changing the business model.
Thus, most organisations keep the same model and rather than change, they upgrade their processes. The digital transformation in businesses is more evident in the covid era due to the (almost) second digital revolution, since various businesses, learning, shopping and even public gatherings shifted to strictly digital mediums.
So, here are the top five digital transformation trends that emerged in 2020-22:
Internet of things or IoT is devices with built-in processors, softwares and AI that can connect to the internet and exchange data. Smartwatches, TVs, AI controllers, ect are a few examples of such smart devices. These technologies have become part of our everyday lives, from Amazon’sAmazon’s Alexa to smart TVs with internet access which are now extensively used.
Software 2.0 is a transfusion of machine learning and data operations; it is a type of software that creates source codes for various applications based on codes. Such software is still in the development phase, and it will take quite a while for it to be used. It is expected to detect errors in data codes and enhance data analytics.
Due to digitalisation, Australia’sAustralia’s yearly healthcare spending has been cut to eight per cent, which was previously twelve per cent.
It is a software/AI type that aims at automating the various IT processes. AI (Artificial Intelligence), ML (Machine Learning) and RPA (Robotic Process Automation) infused digital infrastructure that will automate the mundane, tedious tasks like responding to emails, low-level decision making, organising, ect. It does not mean AI replacing humans, but rather increased productivity when we can leave such tasks to the softwares.
It is another AI form that produces new and original content based on previous data, text, image, gif, animation, audio and video. Various image editing applications already use this technology. The AI gets familiar with the user’s facial expressions/features to generate images, such as face morph applications and face recognition features in smartphones.
Catching up to the ongoing trends is a huge part of business planning as it affects the business's product planning, placement, advertisement, and sales. The input of trends in examples of digital transformations in business can be noticed on social media platforms, online shopping websites, and especially innovations.
Nowadays, people are more concerned with what's trending than what’s good, a trend lasts a few days or weeks utmost, yet it becomes a part of the socio-economic culture. In the same manner, even though digitisation has been in process since the mid-twentieth century yet, its pace has doubled in recent years, and it is due to the covid crises.
Having to stay at home and conduct various tasks that are part of our daily lives turned more digital technology-oriented. These necessary changes that are the need of the hour are slowly becoming a social norm, and we are adapting it in our lifestyles. Work from home was a saving grace for various businesses; now, many organisations plan to switch to remote work processes.
An example of digital transformation in business is the popular startup ‘‘Canva’’. As reported by business insiders, the canva employees must come to the office only eight days a year. These transformations might be the emergence of a new work style, or is it necessary? Do these organisations depend too much on technology? It’sIt’s for each of us to think about.
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Syd Howell writes blogs and articles for students to aid them in their humanities assignments. Earning a reputation in assignment writing, he is known in the assignment help through guided sessions industry for his contributions in the field of social policy and promotion of creative and cultural industries studies in the Australian universities. He provides students with assignment writing help and academic guidance in subjects ranging from history and linguistics to modern languages. Syd has been a humanity consultant with My Assignment Services before becoming a part of the assignment writing team.
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