Digital transformation is no longer a luxury. It’s not an ancillary vision for companies as well. It is mainstream now. From being one of the last entities in company goals to becoming inevitable for business growth today, the demand for digital transformation solutions has multiplied manifold. Companies and businesses around the world are gradually understanding how obsolete technology and operating procedures were holding them back from growing & realizing how a solid digital transformation strategy & Digitization Trends could lead them to profitable avenues.
This realization across the globe has resulted in the concept of digital transformation becoming immensely popular as well. In the year 2018, the digital transformation solutions market was valued at around $290bn. Whereas, by 2023, it is estimated that it will be valued at around $665bn.
Not just that. Close to 40% of the respondents to a survey revealed that they were able to improve their operational efficiency, 35% were able to keep up with ever-changing consumer demands and 26% were able to optimize their product quality significantly.
With so many benefits, we are sure you’re working on bringing in a solid digitization trends into your business as well.
If you are, here’s an extensive list of some of the best trends & technologies you could consider implementing as a priority. Let’s get started.
The 10 Best Digital Transformation Trends And Technologies Compilation For 2021
1. Data Analytics
This year, everything will boil down to data analytics. Businesses will come up with newer data touch points to collect data and process it for insights. From understanding their customers better to fixing loopholes in their operations & data analytics solutions will be a crucial aspect of a company’s digitization trends this year.
2. Customer Experience
With extensive data generation, businesses will have a solid understanding of their market, competition, consumer behavior, expectations and more. This will enable businesses to think from a customer perspective and reverse engineer solutions and products. From product design and UI to how a product is marketed to its target audience, everything will be optimized for customer experience.
3. Data Management
Data management is a massive challenge for enterprises considering the scale at which data collection happens on a daily basis. This year, businesses will find newer ways to manage data, store it and process it for actionable insights. Digital transformation solutions would find their way into businesses through cloud architectures for data storage, SaaS platforms and more.
Also Read : How FMCGs can Utilize Digital Transformation Solutions to Stay Ahead
4. Business Enablement
Skeptical stakeholders and business people, who were hesitant to bring in advanced technology into their systems will wake up to the importance of digital transformation. They will align their business goals with an airtight digitization trends and make way for a seamless transition. There will also be tons of changes culturally and infrastructure wise.
5. IoT Incorporation
IoT is one of the hottest technologies as far as digital transformation is concerned. Through connected devices, it fosters an ecosystem ideal for automation. Businesses can use this to automate their workplaces, processes and workflows and even digital transformation solutions for manufacturing units. Through predictive analytics, IoT devices can also predict when a machine would probably malfunction. With so many impactful use cases, IoT will rule the digital transformation space in 2021.
6. AI, ML And Chatbots
The digital transformation roadmap of companies will be incomplete without the incorporation of technologies like artificial intelligence and machine learning this year.
As more enterprises begin to do away with talent pool performing redundant tasks, they will bring in chatbots and other AI-driven modules to seamlessly automate tasks and processes.
Customer service will be catered to by smart chatbots, new algorithms will be developed for process optimizations, autonomous decision-making systems will be deployed, conversational AI will become more integral and more.
Abbreviated as Robotic Process Automation, they are increasingly becoming a rage across enterprises. Almost every tech convention and conference focuses on RPAs for organizational benefits. In the coming months, RPAs will find an irreplaceable space in specific enterprise modules & domains for automation efficiency and success.
With the market requirements scaling and changing every week, enterprises are forced to be on their toes perpetually to keep up with increasing demands. From scaling their operations to upgrading their tech stack and infrastructure, they are constantly making decisions to keep their businesses afloat.
To put an end to all this, enterprises will ultimately go for the Everything-as-a-Service model, where every single aspect of their business and operations will be on the cloud available as a software suite. Their entire infrastructure will be virtual and they could scale up and down at their will. From instant backup and restore to multi-cloud management, they can seamlessly execute their tasks and goals on the cloud. The best part is that they can do all this at cost-effective prices.
9. Strategic Collaborations
The coming months will also bring about a paradigm shift in the way businesses look at competition and market. From competitors, enterprises will start looking at other players in their segment as a community. They will partner or collaborate strategically with other competitors and businesses to deliver more seamless customer experiences and come together to solve real-world problems.
10. Data Privacy And Security
Data privacy stands at the heart of data security. Ever since GDPR protocols rolled out & enterprises and businesses have become more cautious about the data they collect, the way they store and the access they give to 3rd parties. With IoT becoming integral as well, cybersecurity becomes all the more crucial going forward. So, enterprises will take every single measure to maintain the integrity of data and ensure they comply with global standards and regulations.
So, these were the top 10 digital transformation solutions that enterprises will adopt in 2021. We suggest you explore more about each, understand how they can add value to your enterprise and then implement them. Business growth is inevitable with the right digital transformation strategy and this comes from our years of experience and expertise.
Get in touch with us to know more on how digital transformation can change your enterprise for the better.