Top 5 Business Trends in Digital Transformation to Look Out for in 2019
By now, we all know that digital transformation is not just a technological shift; it is a change at the heart of the organisation which involves its people, its culture and its customers and affects business continuity. Technology alone hence does not equate to digital transformation.
In the year 2019, businesses will continue to make strides in digital transformation and gain from decisions on digital strategies which will enable them to reap the benefits of operational efficiency and superior customer experiences. Improved business outcomes will lead to better fund management which will in turn fuel more business growth via reinvestment in future technologies.
As organisations across the world look to embrace newer technologies, they must examine these 5 digital transformation trends closely to gain momentum in 2019.
CEOs drive transformation
The task of transformation will no longer be in the hands of C-suite leaders, department heads or IT managers. The top down culture matters and hence this will the top trend that many organisations will embrace in 2019. The CEO will finally be the leader of transformation for his organisation and will make it a priority to hire the right team to help build the culture that will drive change. The CEO will also be tasked with the duties of building an agile organisation and be vigilant about all data within his organisation to take the right decisions for his business.
Businesses adopt next-gen IoT platforms
With all things going “smart”, data management will take high priority in the year 2019 for many companies. Disparate data sources and its findings will be unified by next-gen IoT platforms which will further make use of use of artificial intelligence (AI) and machine learning (ML) to find true meaning in data. With the right IoT platforms, this advance in data analysis at both the edge and the core will enable organisations to make the most of IoT by discovering new hyper-dimensional correlations in the data. Core benefits of this trend will include fresh discoveries and insights, improved efficiencies, enhanced decision making and better business outcomes.
Connected clouds take centre stage and data centres become obsolete
As mentioned above, with embedded technology touching many aspects of our lives, 2019 will see disruption in the way we know cloud technologies. Enterprise data centres will turn into serverless architecture with virtual compartments in multitenant public clouds. The two trends fueling this shift are information processing and customer data. It makes business sense to shift to public cloud providers, who provide massive bandwidth and strategically placed data centres. Shifts will mainly happen to make operational efficiency priority and derive more value from data. Also, let’s not forget that 5G wireless will change the data accumulation patterns in disruptive ways as well.
AI and ML come of age
The year 2018 saw many companies still waking up to AI and many still not be sure of the way ahead. But given the new data trends, 2019 will see companies embracing AI and ML to respond to all the accumulated data at the right time to reap instant benefits. Companies will be proactive rather than reactive and get better with decision making due to swift data interpretations. With the right algorithms, architecture, data and infrastructure, AI will become interwoven with applications. Robotic process automation (RPA) will change how the workforce performs and natural language processing (NPA) will change how the service industry functions. Core benefits in AI and ML will include improved service offerings, generation of new revenue streams, optimised processes and better decision making.
The customer experience takes the highest priority
We have seen how the customer interaction with a business has changed rapidly over the past year. Given the effects of GDPR, companies will have to revisit their digital strategies and make customer data protection the highest priority. Staying viable globally will require companies to embrace this transformation trend in 2019 as an opportunity to build a loyal customer base and deliver unmatched customer experiences. Customers will gravitate towards companies who truly care about their privacy and organisations will have to find innovative ways to attract the right audience and create newer revenue generation streams.The cascading effects of GDPR will also affect relationships with partners and suppliers making quality, governance, analytics and security the core of the relationship in order to mutually create superior customer experiences.
The technology decisions that companies take in 2019 will shape the future of their evolving digital world. While digital transformation continues to change how we do business, we will see a huge impact in every industry and every sphere of life.
It is hard to predict what the future has in store for us. But looking at how we work, interact and socialise today, it is wise to be prepared to face the disruption that lies ahead. Our aim at Exigo Tech is to keep our clients well informed about what lies ahead in their near future and help them tweak their digital strategies at the right time so that they can continue to be a success while on their digital journey. Call us today!
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