Digital transformation is underway in practically every industry in the world. Companies, businesses and organizations throughout the world are leveraging their assets, big data and analytics for an edge over their competitors. In fact, data analytics and big data have gained popularity to the extent that data analysis for differentiation is considered advantageous by nearly 91% of executives. What’s more is that information-based products are impacting the revenues in a very positive way for at least one-third of Global 2000 companies.
How is a digital transformation changing the way in which organizations work?
The digital economy has already arrived and will expand. In fact, it is only a matter of years until most of our systems, processes and activities go completely digital. Whether they are ready for the transformation or not, it is required of organizations to revamp the way they think and carry out their business activities.
The organizations and businesses of today must think far beyond the traditional confines of an enterprise and need to consider the entire ecosystem to ensure that they are making the right decisions which can help with survival. It is now essential for organizations and businesses to take several factors into consideration, the most prominent of which are the customers, suppliers, competitors, and consortiums which the organization or business might be a part of. Fortunately for many, a digital transformation makes all of that—and much more!—possible.
The importance for organizations and businesses of evaluating and analyzing data streams in the world today cannot be emphasized enough. With all of the digitally enhanced experiences, services and products being offered by businesses and organizations today, it is not surprising that the executives of today are trying different approaches to increase their revenue from all of these different and innovative things we now have access to in the digital world.
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