We are in the age of the Digital Economy, Digital Transformation, and Agile Transformation. Where future and trends converge to a new present.
We move from experimentation to entrepreneurship, from old concepts to total market disruption. It is a path of no return towards a new consumer: connected, demanding, and integrated into mobile.
These significant changes directly impact the reality of consumers and many companies. Organizations still seek to understand and adapt to their path to be part of this new reality.
This journey can be taken along different paths that lead to the same digital future, and you need to know which is the most appropriate and assertive for your company. And talking about choosing the best route is the topic of our article, so stay with us until the end.
The New Digital Economy Is Not Just About Technology
The Digital Economy is not just about technology; it’s about changing how you work, consume products and services, and especially how you think. Understanding this is challenging; many companies are learning this hard.
What’s worse, many large organizations have seen the approach of the Internet and the digital world and have yet to adapt. Survival is optional.
To give you an idea, according to Forbes, 70% of efforts focused on corporate digital transformation fail because they need to be more focused, inspired, and planned. Failure leaves scars and erases the appetite for future change.
Reality shows that the practical steps to create a Digital Economy are simple. They’re just stiff and often uncomfortable.
The Best Way To Be Part Of The New Digital Economy
As part of changing your entire organization, the new Digital Economy means changing your delivery. You’ll think more about services that are entirely focused on what users need from beginning to end.
Your company must opt for new concepts that start to work and impact. By finding the right path in the Digital Economy, organizations break important paradigms that could be written in stone for many. But this is not the reality for this new era, so we already have transformative results.
- Successful companies adopt digital strategies that can thrive in uncertainty and succeed through a ” test and learn” mindset.
- Rather than focusing on what they are selling, successful companies, in their Digital Transformations, concentrate on the customer needs they serve and constantly interact with their product or service to meet that needs better.
- Successful companies invest in developing systems, technology, and talent to help them achieve their digital goals.
- Successful companies focus on implementation to ensure that successful experiments achieve scale.
Digital Transformation: When A Business Is Transformed By Technology
Like Big Data, the term Digital Transformation derives its popularity from the size of its potential impact rather than being a new tool to improve operations.
Since the early days of robotic automation in manufacturing, people have used technology to improve and simplify work.
One of the company’s options to be part of the current Digital Transformation is changing the business format using technology and converging to a broader and more complex set, such as interactions with customers through mobile devices, the purchase decision being influenced by new patterns of consumer behavior. All this is based on a lot of innovation.
And there are several reasons for this focus on Digital Transformation: the pace of disruptive technology, the need to do more with less, the importance of maintaining competitive advantage, and the goal of being more customer-eccentric.
While digital tools and technologies significantly affect the way business is conducted, many organizations continue to need help with themselves or implement a comprehensive and effective Digital Transformation process.
Agile Transformation: When Agile Initiatives Transform IT
To succeed in the Digital Economy, your company must fix what is broken: the old concept of IT in organizations, from the heart of processes and policies, from the time-worn data architecture, a path that converges to an Agile Transformation.
The most significant change will be how you develop and deliver—working in skilled and multidisciplinary teams and starting with the needs of new digital consumers and agilely improving your work.
It’s testing new concepts and services with real people and writing clearly for a broad audience, being developed through a new culture, processes, and technology. Showing prototypes and working code as a substitute for documents and meetings.