Often, your business depends on data. Corporate decisions are based on information from various sources, including internal and external systems. This information is produced either in a searchable format or automatically converted to that format when it’s available. Every company needs data in an easily accessible state for effective decision-making processes – no matter what industry they’re competing in or how much competition they face. All this data is eventually stored somewhere, most likely in a database. And because you can’t get rid of it, you have to store the data securely and make it available whenever needed – 24/7 worldwide. Businesses that deal with large amounts of sensitive personal customer information are subject to strict reliability standards and regulations regarding access control over their data. That’s why they need to invest in digital transformation.
However, investing in data storage is not enough for any company that wants to succeed on the market nowadays. You have to process it as well – analyze and transform it into information and use that information for decision-making processes. The good news is, you can process your stored data at a lower cost than if you were collecting it from scratch and building a database from the start. If you are able to collect raw customer data through digital channels, then it would make sense to invest in big data solutions and apply advanced analytics techniques developed for processing this kind of complex information at scale. This way, your business will be able to automate key processes like order fulfillment while great insights will be available to help improve customer experience and boost sales.
But is digital transformation really worth all the effort? Yes, it is! Big data analytics platform solutions provide valuable insights that can only be revealed by analyzing massive amounts of data. It enables better decision-making processes and cost savings in the long term. That’s why digital transformation is a great opportunity for any business willing to gain an advantage over their competitors.
As previously stated, digitalization has become a new engine of economic growth in large corporations. For example, according to Accenture research “67 percent of executives surveyed believe that customer experience will be the primary driver of growth versus only 23 percent who think it will be price”. When we look at how consumers use internet today (and what they expect from brands), there’s no question about which direction our economy is heading towards – people are more interested in experiences than products or services. And good experiences are based on data, not intuition!
Here are three reasons why you should invest in digital transformation.
1. Improve Customer Experience by Automating Processes That Drive Customer Satisfaction and Retention
Improved customer experience is the number one reason for businesses to invest in digital transformation. This way, you can transform your business from an analogue “push” system into a digital “pull” system – a huge competitive advantage that will help you retain and please more customers than ever before. For example, when companies implement advanced automation processes they can reduce order processing time from days to minutes or even seconds. In addition, it will remove ambiguity of the process allowing every employee to be 100% sure what their responsibilities are while providing ability to manage at scale without violating service standards and policies.
2. Gain Competitive Edge Through 24/7 Worldwide Service
Another reason is that digital transformation provides new growth opportunities for businesses by making it easier to provide 24/7 worldwide service. By investing in digital transformation, companies are able to support customers at any time and from any location. This way, they can gain competitive advantage over brands who don’t invest as much into their business processes or data optimization technologies.
3. Get Precise Insights Into What Your Customers Want and How They Feel About Your Company
And last but not least – analysis of customer behavior based on real experience will give you precise insights about what your customers want and how you need to improve your services to become more successful in the future. With all this information collected from multiple sources (like social media channels, mobile apps, websites and live chat solutions), you can easily understand how your customers feel about your company. The next step is taking action to actually transform your business into a new digital brand!
There are many reasons for businesses to invest in digital transformation (as we have discussed above). It’s time to make the right decision based on what works best for you. By implementing smart technologies such as big data platforms, you will not only be able to transform your business from an analogue system into a digital one but also stay ahead of competition while adapting to new customer behavior patterns. Digital transformation brings competitive advantage that cannot be ignored by any business today!
Sunvera Software develops next-level software applications from start-to-finish. We are a premier software and mobile app development agency specializing in healthcare mobile app development, custom mobile app development company, telehealth software, sales dashboards, custom mobile app development services, retail software development, supply-chain software, ecommerce, shopify, web design, iBeacon apps, security solutions and unified access software.
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