Digitalization is transforming businesses and several industries throughout the world. These Digitalization strategies cover five major areas or aspects of industries to drive major business transformations are – improved customer engagement, digitalizing products, decision-making improvements, financial concerns, and enhancing operational capabilities and efficacies.
These aspects have also driven major efforts in the digital transformation of Qatar by creating values in business, job opportunities, innovative business concepts, and more. As these areas are enormous, several companies in Qatar are also undertaking these digitization efforts as soon as possible and accept that technology is the major factor which can create major changes in the business.
How Business Digital Transformation Areas Can Be Symbolized?
Successful digital transformation Qatar has started with a great and major understanding of strategy, current situation, and future expectations of digital business operating models and risk appetite. Successful DT efforts always start with the ways and strategies that any organizations apply and decide to lead their business motives, understand the competitive landscape and technological concepts.
In this context, there is no surprise that most of the corporations still view digital transformation too seriously these days. There are four major areas covering business process, business model, domain, and cultural transformation.
There are a few significant technologies being created by new technologies and recognized by corporations in multi-dimensional ways to learn about the importance of transformation to be more innovative, agile, and digital.
Here Are The Four Types of Digital Transformation Described in More Details:
1. Process Transformation
Process Transformation refers to those activities which are related to the significant focus of corporate activities in business procedures.
These procedures can be defined as Data analytics, AI, Machine learning, and other technologies that offer corporations valuable information to reinvent the whole process with the goal to minimize the cost, get a productive response in less effort, reducing cycle times, and enhancing efficiencies.
Process transformation can be seen easily from the small shops to big MNCs. For example, many companies like Airbus have engaged heads up display glasses to enhance productivity and quality of human inspection of airplanes, same is with Dominos, who has focused on customer satisfaction and service improvement by re-imagining the food ordering process.
These kinds of efforts have pushed companies so much that they succeed to transform their process innovation by improving customer’s convenience effectively.
2. Business Model Transformation
Digital transformation is also a great medium to improve and enhance traditional business approaches and models by pursuing digital technologies. Whereas process transformation engages infinite areas of the businesses, business model transformation is aimed to focus on building fundamental blocks related to business values and their successful delivery in the industry.
For instance, innovation and business models started from Netflix when they focused on the reinvention of video distribution. Reinvention of i-tunes via Apple, innovation of taxi services via Uber’s are other examples of business model transformation.
On the other hand, insurance companies use data analytics and AI to un-bundle and figure out contracts and customers’ data by using an innovative auto insurance business model. The critical and strategic nature of business opportunities require proper and effective strategic involvement & leadership to discontinue old business approaches and regenerate new significant opportunities for growth.
3. Domain/Business Stream Transformation
The major area of business is known as domain and business transformation where you can find surprisingly little focus and enormous business opportunity. Adopting new technologies is helping in refining products and services, changing industry boundaries, and creating entirely new benchmarks by reducing old traditional competitive strategies.
Accepting new emerging technologies help to redefine their competitive approaches. New opportunities have helped businesses to unlock new boundaries beyond currently served markets by creating new values.
For instance, a clear example of domain transformation can be taken as an option of Amazon, etc. Amazon has launched a new web business services name Amazon Web Services (AWS) and expanded it into a new domain market in the field of cloud computing services.
It is a great example of expanding digital business capabilities by building a huge storage and computing database for young businesses.
4. Cultural/Organizational Transformation
Full, complete, and long term digital transformation is also known as a format of cultural and organizational transformation. These can be observed as mindsets, processes, skills, opportunities, and capabilities for the digital world.
Top notches companies recognize their digital agile workflows and through testing, learning, and decentralized decision making and a greater understanding of business ecosystems. Companies are adopting digital transformation techniques and giving leadership and digital mobilization training to their employees.
Digital transformation strategies with innovative efforts also allow to shift the company’s values and focus on customer-centricity.
For instance, Experian is a great example of organizational transformation, as it is a customer credit agency and applied the most effective digital transformation technique to change and digitalize their organizational fundamentals by embedding agile development and collaborating with the new workflows.
Organizational transformation also helps to focus on equipping data safely. Companies have driven a great opportunity by creating values from digital, innovating digital skills and mindsets and developing agility. Many companies have promoted the “culture of innovation” strategies by accepting long-run cultural/organizational changes of success.
As technological changes increase, industries will continue to be changed effectively. Changing the digital mindset of your organization has become very important these days. There is no better way to start your digital journey thean from your leadership team. Qatar Companies’ are adopting digital transformation techniques and giving leadership and digital mobilization training to their employees.
So, if you are looking for digital transformation planning then consulting with the digital leaders will help you to gain learning new digital terminologies, enhance customer-centric mindset and adopt high-tech data-driven policies and approaches.
To learn more about factors, areas, and aspects of digital transformation in multiple industries, you can call digital leaders to implement changes and develop digital-driven organizations.