Is data the key to competing in a disruptive world? If your answer is “Yes,” you are among a growing number of executives who believe digital transformation is rewriting the rules of business.
These new rules have become more obvious since the market has seen players such as Airbnb, Netflix, and Lyft, who have completely changed the rules of the game.
Enterprises are wary of the fact that it is not just about bringing innovation to their product delivery, but also about delivering satisfactory experiences. This can happen only if there is proper implementation of this digital strategy.
According to Forrester Research, “63 percent of surveyed global analytics decision makers said that innovation is a high or critical priority for their organizations.”
Additionally, according to TDWI Research, “In an annual industry survey, 33 percent of respondents said that they are implementing data visualization for discovery and analysis now and 45 percent were planning to do so.”
Digital transformation is not achievable without solid data management. Enterprises cannot accomplish digital transformation without having a strong data structure. Let take a look at what strategies, enterprises must implement around data, as a part of their digital transformation process:
#1 Use data to create a preview of customers. This includes patterns such as purchase information, preference of communication, and activities on social media. This can be done by integrating structured data with unstructured data.
#2 Capture data by location-based functions through mobile phones. This will help enterprises deliver a personalized experience based on where a customer is located
#3 It’s all about communication. Sending out the right message at the right time and through the right channel can do wonders.
If you want to know how data can inform your digital transformation journey, click the link below for more information.