The promise of improved efficiency through embedding digital technology in a business is an easy sell—generating significant value by improving both customer-facing and internal processes. Achieving this transformation is not simply about the technology as a piece of software or hardware, however; digital transformation enables many of the ways business is done to be re-imagined and the interactions of employees and customers redesigned. This improves business impact and effectiveness through better gathering and use of data.
This is particularly important in giving management a better understanding of both market dynamics and buyer behavior. It should provide key decision makers with timely information on all areas of business operations, helping to inform strategy and planning. A well-functioning digital strategy, in short, gives today’s company a virtual view into the whole of its operations that is clear, comprehensive, and consistent.