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SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Reasoning for Slow Pace of Digital Transformation

Digitalizing is becoming the need of hour in every business. Every organization is trying to in cooperate technology as per there needs. Companies believe that cloud storage, analytics, mobile and social advancement are all the tools they require for digital transformation. However, this is not enough. Digital Transformation is still lagging behind even after great efforts by organizations. One reason behind it is the fact that one could not match the speed at which technology is growing. 

Following are few challenges that organizations faces while trying to keep digital transformation up to date:

  1. Lack of vision and leadership
  2. IT and business don’t see eye to eye
  3. Little to no engagement
  4. Transforming ops is hard
  5. Governance is lagging
  6. Critical functions are being shortchanged
  7. Shying away from the cutting edge
  8. Metrics misalignment
  9. Failure to change culture
  10. Not failing enough

Read more about them at: https://www.cio.com/article/3274447/digital-transformation/why-digital-transformations-are-lagging.html

 

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Stepping into Digital Transformation

As the name suggest, Digital Transformation involves thinking and rethinking about how an organization can use technology in business. It helps in improving ongoing processes and bring changes to business. Digital Transformation vary widely based on specific demands of an organization. However, there are few digital transformation elements that should remain in focus. They are – Workforce Enablement, Operational Agility, Customer Experience, Culture and Leadership, and Digital Technology Integration. Even though many companies are trying to in cooperate digital transformation, 84% of them are failing!

Following are the three keys to success:

  1. Establish Clarity
  2. Prepare from the core
  3. Learn to iterate quickly

Read more about them at https://www.cio.com/article/3292262/digital-transformation/3-fundamental-keys-to-digital-transformation.html

 

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Digital Transformation with Big Data

A number of trends lately has helped in shaping the Big Data. But, digital transformation is one of the key ones of all. It is being predicted that it might change the ways of data science profession in the years to come. Key features like flexibility, access to expertise, data security, etc. has helped it overcome most of the challenges. Many are saying that data transformation is the next major phase of Big Data. Find out more at: 

https://www.smartdatacollective.com/digital-transformation-unexpected-renaissance-age-of-big-data/

 

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Cyber Security: An Important Step While Digital Transformation

With the increase in cyberattack throughout the world, it has become extremely necessary to install cybersecurity which uses digital technologies to protect company networks, computers and programs from unauthorized access and subsequent damage. With the market rapidly digitalizing itself, it is necessary for them to secure it. The focus must be on safeguarding the data spread across devices and cloud. There are different techniques used by hackers to attack the company’s data source, also there are ways to combat these attacks by network defense, mobile device protection, investment in securing IoT devices etc. Artificial Intelligence is used to learn new malware behaviors and correct them. Thus, cybersecurity is a key factor for every organization while digitalizing itself. Read more at: http://www.datasciencecentral.com/profiles/blogs/cybersecurity-in-digital-age

 

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Customer Experience at the top in the Digital Age.

Digital Transformation has brought a lot of advantages as well as challenges. In the race where everyone is rushing to get digital, customer experience holds the highest priority. Digitization not only affects the internal working structure of the organization, but also affects the customers of the company. Digitization is taking place in every sector. So those who keep themselves isolated from this will be marginalized completely. With the expense of mobile technology, users are getting very comfortable with remote control. The daily access to the digital world has brought a huge change in the customer behavior, so the digital strategy of an organization must be comprehensive. To improve the customer experience, all the departments must be working together. Moreover more the digitization, higher the amount of data. Data must be from the various departments must be integrated through a good communication channel. Read more about it in the article written at: http://blogs.adobe.com/digitaleurope/digital-marketing/pac-study-customer-experience-in-the-digital-age/

 

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Digital transformation: A key for business survival

Digital intervention is influencing all sorts of businesses now-a-days. It is important to stay updated, in order to survive the competition. A well-known sneaker company has entered the business of digital sports in order to survive the digital disruption, happening all around. Other companies include a famous coffee maker brand, who has embraced digital transformation by launching an online platform to capture consumers' ideas, experiences and preferences. Instead of focusing too much on cost reduction, it's time to focus on innovative technology, which is also risky. For digital upgradation, it is important to understand the online topography, to recover the required data, which is analyzed using data analytics, which then gives results, used for understanding customer sentiment. Read more at:

http://channels.theinnovationenterprise.com/articles/7232-are-you-becoming-a-digital-dinosaur

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New Role of CFOs in this digital era

80% (including tangible assets) of a business total corporate value on the S&P500 index, now only count for 20%. Now, intangible assets such as data, talent and intellectual property has become the hallmark. In this competitive world, the CFO needs to allocate their entire budget in digital technologies. CFOs need to become leaders and guide business during digital transformation. According to Gartner, "intangible assets are the core competency value of any business." And they need to rebalance their investment portfolio. According to Shailender Kumar (MD of Oracle India), data and access to the data are the most valuable intangible assets for businesses today and cloud helps organizations to get the most from the data. Organizations need to rethink on their ROI measurement procedure. They need to develop new metrics, risk and performance measures in order to measure ROI. To know more about the CFO role in cloud and digital technologies, please follow this link: http://www.financialexpress.com/article/industry/companies/data-talent-and-ip-are-key-to-a-companys-market-worth/78557/

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digital transformation in our daily lives

A well-known tractor maker company in US, is also a front-line innovator. This company has incorporated integrated software, network connectivity and data gathering sensors into tractor hardware. It is a perfect example of digital transformation in a much needed field, but yet, least expected of such transformation, till now. Digital transformation should be the heart of every business, whose sole purpose is to improve the existing business philosophies of the firm. Read more at:

http://www.cmswire.com/customer-experience/digital-transformation-your-key-to-survival/

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Do CIOs Need Passion To Succeed? Analysts Debate

Chief Information Officer of any organization should realise the change in technology and making enterprise software attractive should be the part of their strategy. Strong, responsive, high-energy, customer-focused service is what delivers value and makes a company attractive and this is being enabled by the digital transformation. To know more about the points which CIO should keep in mind while entering the digital age, go through the article by Vala Afshar, Chief Marketing Officer of Extreme Networks.

http://www.huffingtonpost.com/vala-afshar/do-cios-need-passion-to-s_b_4802303.html

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