The process of digital transformation has taken over the entire business world. Digitization is no longer a choice, it has become a necessity today. The advancement of technology in cloud adoption, Big Data, software defined networking, IoT (Internet of Things), virtualization, threat detection and security has increased the demand for solutions such as data entry services and other such digital services in every industry. In the present fast-paced business world, digitization and innovative software solutions provide the opportunity to create new capabilities, experience and unprecedented economic opportunity for businesses.
Now most B2B and B2C interactions take place through smart devices. Anyone in the business field knows how dynamic the global marketplace is. It is easy to be left behind in this market that is vibrant and demands originality and constant development. Technological development is happening at breakneck speed and small and medium businesses must be prepared to stay afloat via effective digital adoption and strategies. This aspect is emphasized in the Digitalist Magazine that calls every company a “tech company” in a global marketplace like the present one. To maintain and grow market share, businesses have to innovate, digitally.
Let us first consider some projected trends for the next few years, and then go on to see why digitization is a necessity for businesses to keep up with these new trends and demands.
- Big Data Insights: Big data continues to be important and will remain so in the years to come. The IDC forecasts that the Big Data industry is expected to reach $102 billion by 2019. By 2020, around 50 billion devices will be connected, expert analysts point out. As a result more than 5TB of data will be generated per person. The important thing is that this Big Data will be used to obtain information, which will provide the insights necessary to take the right actions that will ensure specific business outcomes. For example, Big data has helped the healthcare industry by providing the insight necessary to develop innovative tools for clinical support. It has also helped devise new reimbursement models, and allows healthcare providers to deliver more precise and personalized care.
- AI will grow in popularity: Artificial intelligence (AI) or robotic automation is expected to take over many tasks at present done by human workers. Robots may be used to work alongside humans to ensure better efficiency and profitability of the enterprise. The combination of man and machine will provide gains for the organization as a whole.
- Efforts to improve operational efficiency will increase: Operational efficiency is essential for any organization. Proper planning and execution, appropriate teams and infrastructure are important for improving operational efficiency. Organizations can stay ahead of the competition only by incorporating innovations and new technologies.
- Increasing popularity of mobile technology: Mobile technology is changing the landscape of almost all industries. Studies show that in 2017, for the first time mobile app usage has grown beyond that of Internet domain usage. Today, you can make use of apps to find anything, any product, service or other information you want. In the healthcare industry for instance, people can use health apps as diagnostic tools. These tech tools can be also used to communicate with patients; healthcare organizations will therefore need to incorporate mobile strategies as part of their digital transformation. In fact, any business that fails to take mobile phone usage into consideration will be foregoing a major asset. Businesses can benefit from real-time, ERP systems that are designed for mobile efficiency. With such a system, business executives can keep track of vital information and stay updated from anywhere, anytime.
- Consumers look for innovation: Customers demand innovation and better service models and convenience of doing transactions. Technological innovations will help organizations build strong and lasting relationships with customers and suppliers. Advanced digitization will allow business executives to communicate with prospects in real time, and have the required information ready whenever needed. Any organization neglecting digital transformation could get secluded from their consumer base, and suffer from market share loss.
To keep abreast with the above trends and ensure business growth, you need to necessarily embrace digitization. It is no longer just an option. Digitization is not just technological change; it transforms business models and helps you make the right decisions and adopt the right strategies. To build a successful digital business, first you have to lay a strong foundation. To drive digital transformation, your first step should be to transform your IT infrastructure to make it more open, software-driven, and scalable. This is vital from the point of view of obtaining insights for faster business innovation, automation, and assurance. At the root of any digitization drive lies data, and to ensure clean and actionable data businesses can always utilize the data cleansing services a data entry company can provide.