The New Landscape
Worldwide the business landscape has changed along with the Digital Transformation wave.
Therefore, small and large companies that embrace Big Data analytics, the Internet of Things (IoT), and Artificial Intelligence see this as a game-changer. Forrester and Gartner predict these as the 3 strategic trends and set of technologies, that will command the new era of digital transformation and the emergence of the new DX (digital transformation) economy.
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The initial stage of any digital transformation strategy is to understand and identify the needs, chore, and goals of the corporation itself. Once it´s clear, it is critical to find an effective way to leverage data and translate it into useful information that matches accordingly. Even so just 27% of current businesses according to Forrester, have a digital strategy that sets coherently a customer value proposition that positions them as a digital business.
How to succeed.
Big Data is a winning competitive asset that allows tuning targets and trends, to have access to tailored information and increase ROI rates. Also, it helps you to understand consumer’s behavior, market trends, and employee performance to name a few. As a primary asset, you would need to have processed information with the best quality, as clean and accurate as possible. This is a major challenge that 90% of companies face nowadays.
As the catalyst to fulfill any digital transformation strategy, enhancing Big Data, learning how to manage it, and create insightful forecasts, it’s a must to succeed in the current business scenario. It has to occur as a cross-department coordinated effort to boost effectiveness, not only in an IT individual concern. About 93% of the companies that have implemented their strategy jointly, sustain that digital initiatives are effective, according to the IT report from The Economist.
Now it’s your turn.
Even if technology or data mining is not your expertise field, it is time to explore and understand the reach and possibilities of having information with the best quality, optimizing time, costs, and maximizing benefits for you and your company. Data Ladder can help you to get the best out of your data and push your results and ROI to a whole new level of productivity. Call us and schedule a personalized demo.
Did you know that:
- 2.7 Zettabytes of data exist in the digital universe today.
- Walmart handles more than 1 million customer transactions every hour, which is imported into databases estimated to contain more than 2.5 petabytes of data.
- Decoding the human genome originally took 10 years to process; now it can be achieved in one week.
- 571 new websites are created every minute of the day.
- 100 terabytes of data uploaded daily to Facebook.
- Data production will be 44 times greater in 2020 than it was in 2009.
- Poor data across businesses and the government costs the U.S. economy $3.1 trillion dollars a year.
Related Sources:
Big Data Statistics & Facts for 2017. Waterford Technologies
The Role Big Data Plays In Digital Transformation. Forbes.
6 Predictions About The Future Of Digital Transformation. Forbes.
What is IT’s role in digital transformation? The Economist.
