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The Next Phase Of Digital Transformation Is Based On Data and Analytics

Digital Transformation strategies

The first step in the digital transformation of your business is to automate business processes. This generally involves replacing time-consuming manual processes with AI. The AI can then complete these processes efficiently, allowing you to redirect your manpower to where it is required. This automation is the key to the next phase of your business’s digital transformation.

As many of the best digital marketing agencies will inform you, the next step of your digital transformation strategy is based entirely on the data you collect from your clients. Therefore, keeping track of all the data you generate is the key to successfully transforming your business.

Why are data and analytics so critical?

Every interaction on the internet generates data. Whether you enter a search query on Yahoo or purchase on Amazon, the selection you make out of the many options available in the data a business needs. This data can then be used by businesses to identify customer trends. 

2. Helps make informed decisions

Many managers and business owners opt to make decisions based entirely on their intuition or gut feeling. However, with real-time data collection and processing, they can make informed decisions with statistics to back them up. Real-time data analytics can help make last-minute decisions for all business operations.

3. Allows detailed analysis

With data collection, your business can easily monitor the surge and drop of interest in your products and services. These trends can easily be analyzed for an extended period to determine what marketing strategy works for your business and generates positive ROI.

How to instigate this next phase of digital transformation?

This next phase of digital transformation may be daunting, but it can be achieved by taking simple steps.

1. Assessing digital transformation strategy

The first step is to assess the current position of your digital transformation strategy. Data will be used to gain insights into customer experience, loyalty, sales, etc. Therefore, understanding your current position will help you determine which direction you may want to head in.

2. Determine your goals

Why do you want to take this next step in digital transformation? It helps to determine the answer to these questions. When you set goals like ‘improve customer experience’, you can create a digital transformation strategy. Setting small and realistic goals is the key to completing this step of the digital transformation strategy.

3. Determine what this involves

A Data-based digital transformation means a business has optimized its data collection and analysis method. The key goal for any brand is to generate sales by providing a superior customer experience. Therefore, for your digital transformation to be effective, you should assess the efficiency of the data collection and analysis methods and the reliability of the reports these generate.

These are the three key steps in taking your business to the next phase of digital transformation. Global spending on digital transformation is expected to reach USD 2.39 trillion by 2024. And while many businesses believe they have completed their transformation, it is critical to remember that this second phase is an ongoing process and cannot be achieved overnight. However, with a well-developed digital transformation partner, like Domancier, you can seamlessly upgrade your business’s data models.