While digital transformation has been in manufacturers’ playbooks for the past few years, the effects of the pandemic, including supply chain disruption and worker shortages, will make it a business necessity in 2022.
Digital transformation has been the big technology story of the 2020s. Businesses that have embraced this ongoing movement have improved their customer journeys, strengthened their security, and even opened up data analysis to multiple facets of their business. Reflecting the widespread interest, companies like IKEA, DHL, and Nike have undergone successful digital transformations. Business leaders need to stay on top of these 7 key digital transformation trends moving into 2022.
The term “Industry 4.0” originated from a committee of German technocrats who wanted to make predictions about where technology was headed next. And certainly, it fits nicely in the storyline of the initial Industrial revolution with the rise of machines powered by steam and water, the second revolution sparked by the use of electricity, and the third revolution of automated production with robots.
As a former chief experience officer, I’ve seen just how impactful digital transformation can be. When I worked at Under Armour, we focused on our customers’ connected fitness journey, which unlocked new revenue streams and engagement opportunities. Yet, I’ve been around long enough to see my fair share of disappointments and underperforming projects. Any C-level executive will say the same.
Already a key strategic initiative, digital transformation — a catchall term for describing the implementation of new technologies, talent, and processes to improve business operations and satisfy customers — has taken on heightened importance during the COVID-19 pandemic.
Chestnuts roasting on an open fire. Jack Frost turning noses blue. Yuletide carols being sung by a choir, and folks predicting twenty twenty-two.
Product thinking should answer the primary question of “what makes the product useful for the intended audience?” The traditional way of product development was more focused on features and then choosing the audience to sell those features, but now it all comes down to users/customers.
Digital transformation has remained an important trend in banking in 2021. Similar to its impact on other business domains, technology is gradually reshaping the financial services industry in every aspect. However, the industry has a long way to go, and banks are still dipping their toes in the digital water, with 27% only launching a digital transformation strategy in 2021. Meanwhile, customers have changed too.
Government agencies face challenges in moving forward with digital transformation. IT infrastructures are complex, and making sense out of massive amounts of disparate data is a struggle.
