What is Digital Transformation?
Digital transformation can be defined as the adoption of digital technology to accelerate business processes and activities strategically. It is more than technology disruption; it is about value, people, optimization, and capability to adapt to change using technology. Digital transformation fundamentally changes how you operate and do business. It brings about cultural change for organizations to continually challenge the status quo and accept failures on the way.
There must be a clear problem statement, untapped opportunity, or significant business goal to initiate digital transformation. With digital transformation, you can improve customer experience, achieve business agility, reduce friction, increase productivity or accelerate profitability, and more. However, Digitalization is a comprehensive word having different meanings to many people. Besides, digital transformation is loaded with technologies, software, analytics, etc., making it difficult to differentiate between enablers and drivers.