April 19, 2022 | Strategy | Digital Transformation
Companies are often faced with three types of digital transformation:
3. Shifts in business models
Each type of transformation presents unique opportunities and challenges. In this post, we will see a few examples.
1. Consumer-oriented digital transformation
Companies can enhance the way consumers interact with their brands using digital enablers such as conversational AI. The Mercedes MBUX is a great example of this.
2. Enterprise-focused transformation through digital enablers
Enterprises can be transformed by leveraging digital technologies like Machine Learning and RPA to automate back-office functions, driving cost optimization.
3. Shifts in business models to digital channels and value streams
Companies can shift or enhance their products or services through digital channels. The shift in business models using digital enablers is the hardest but perhaps the most rewarding. Even after a decade, Netflix is still a great example of how a company pivoted from mailed DVDs to web streaming content with hyper-personalized recommendations.
What challenges have you faced in your digital transformation journey?
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