What is Digital Transformation and How is it Relevant to Your Business? There has been a sustained shift in the face of the business as a result of use of digital technologies. It may not be quite right to use the term digital transformation to describe the realities that it covers. It is most preferred by some people to use the term digital business transformation so as to get in line with the business aspect. Digital transformation is used as an umbrella term to cover changes that are not only in business but evolution and modifications in other areas like, the government and society. Areas of Digital Business Transformation Changes in Business Processes Business processes that include one or more connected activities, operations, or sets geared towards achieving a given business goal, whereby business process like management, optimization, and automation come into the picture. In most cases, business process optimization is integral in digital transformation strategies and is mainly customer-facing.
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Core Business Models A business model covers the functionality of the firm right from the marketing strategies, the means of seeking money and how it effectively transforms its main business and taps into novel sources of revenue and approaches, and sometimes having to drop its traditional core business after some time.
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Business Ecosystems Business ecosystems has to do with the network of stakeholders and partners as well as the factors that affect the business as the economic priorities and evolution. Organizations come together to form new ecosystems by digital transformation and information, and use data and actionable intelligence as an asset of innovation. This is not an exhaustive list of the areas that digital business transformation covers, there are still other major areas and though some overlap, they cannot be avoided. The Importance of Digital Business Transformation Ideally, digital transformation is the process of transitioning the entire business from a traditional platform to a new digitally efficient model. While there are several aspects of digital business transformation; this article will address its importance in sales and marketing. There is an increased rate at which E-commerce is in use which has seen physical ad means being abandoned. Digital transformation has the use of more physical marketing strategies like use of phone calls, mailing, and flier being thrown into the dustbin and the internet is being embraced. Any service business in operation needs to be digitally transformed. Customers hardly have time to run through the Yellow pages to search for your business but are instead online searching. Online sites provide more information and also provide social evidence of customer reviews. To summarize, the only way to bring about the maximum challenge in change management is through Digital Business Transformation. It impacts on the business structure and the strategic positioning as well as all organizational levels.