Data Management Fuels your Digital Transformation Efforts
A survey by Gartner states that less than 50% of organisations consider data and analytics as the core component of their digital transformation efforts. The statistics will change drastically as we are moving towards a hybrid workplace where digital transformation has become a necessity. The accessibility of important files and applications to workforce operating remotely, the ability to analyse the data and its security is raising concerns for the Australian entrepreneurs. The customers’ demands and preferences have also changed tremendously. Therefore, the focus of the organisations is on molding the processes in a way that the entire customer journey is captured explicitly and the data from this can be extracted and analysed automatically by the machines. We as growing enterprises need a modernised infrastructure which can easily keep up with the challenges of future technologies and help us thrive in this digital economy.
Apart from working on enhancing our technology quotient, we as business owners need to focus on making data and analytics our core competency. We need to take small steps to sharpen our data analytics edge and gain intended benefits from our digital transformation efforts. The most important move we can make here is indulging in effective communication. We need to collaborate with our team members and strive to bring a cultural change where data is considered as an asset. We can create new roles in our organisations such as data scientists or data analysts whose responsibility will be to supply the refined information whenever required.
Benefits of Aligning your Data Management Strategies with Digital Transformation Efforts
When the digital transformation efforts are supported by a solid data management base, we leverage a guaranteed set of benefits. A few of which are listed below –
- Acquire Customer Intelligence
With abundant data about customers at hand, you can understand their preferences, track their feedback on your products and services and incorporate the same when you are designing your next product. You can use the data insights to adjust or alter the supply chain flows, unearth upselling and cross-selling opportunities and hence give your customer a personalised experience which ultimately improves their loyalty towards your brand.
- Reinvent Old Processes
The availability of the data enables you to retrospect your internal processes and find gaps and inefficiencies in the same. Based on these findings you can prioritise the digitalisation of your business processes and navigate your digital transformation efforts in the right direction.
- Untap New Revenue Streams
You can use the data to identify and predict future trends. Since processes will be digitalised your workforce can devote their time to innovation and diversify your offerings.
- Take Calculated Risks
With data being closely integrated with your digital transformation efforts, you can analyse your customer’s behaviour and design products and services that cater to their needs. You can identify new offerings that can be included in your portfolio and match them with your client’s requirements and then can take decisions on innovating your deliverables.
Exigo Tech Builds the Right Base for the Success of your Digital Transformation Efforts
Having a quick look at the benefits of including data management in our digital transformation efforts has painted quite a rosy picture for us. But it is not what it looks like. Data is definitely the gold for business owners like us considering the volatile nature of the market in which we are surviving. But the catch here is that collecting this gold was easy but using it for our advantage is a mammoth task especially when we all are swimming in streams of data.
Earlier in this blog post, I talked about getting data scientists onboard, but with legacy systems, they are more likely to get overwhelmed. Therefore, it is necessary for us to have the right technologies and tools at place to drive the insights we require. We need to trust and try the capabilities of machine learning and artificial intelligence to enable our data scientists to move away from data housekeeping tasks and focus on analysing a massive amount of data that spells success for our digital transformation efforts.
We at Exigo Tech have digitally transformed our processes by keeping data management principles at the center. Therefore, we are the ideal company to help you finely combine data management strategies with your digital transformation efforts. You can leverage our expertise and industry experience to achieve your business goals. To have an invigorating discussion with one of our experts, call 1300 EXIGOTECH (39 44 68) or email us at email@example.com. Let us be your guiding star on your data- driven digital transformation journey.