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Impact of Digital Transformation on Your Business
Manage episode 315294059 series 3270360
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Digital Transformation is broad and there are different factors that will impact on degree of digitization
The impact of digital transformation on different businesses will vary but will often lead to benefits of digitization which includes: Reduced operating costs, Increased revenue, Enhanced customer satisfaction and much more
Digital transformation has been applied using Digital Technology to transform well Established Traditional Business Models that have been in existence for a very long time. A popular example is Uber. Uber is currently available in not less than 80 Countries around the World. It came up with a business model that resulted in reinvention of Taxi services in the Transportation Industry and this reinvention has huge Global impact in the Transportation Industry. Another Popular example is Netflix. Netflix actually started as a DVD by mail service but has now grown to be one of most popular video streaming services globally. Netflix introduced a business model that highly impacted movies in the entertainment industry. There are other notable success stories of companies that adopted digital transformation in other sectors.
As a Professional or Business Owner. You have to keep an eye on emerging innovations and digital trends that are currently shaping your industry and those that will have impact on your industry in the Future. This cannot be overstated.
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