Mastering the three top tenets of digital transformation
Suddenly the definition of Content has been broadened as a “center of everything,” to be identified, accessed, re-purposed and distributed. The practice of managing content will effectively help organizations take operational control of their data and intellectual property in order to deliver a business’s growth potential. Strategy in a digital world needs to be intentional and grounded in good design that strives to adhere to business requirements and provides an organized solution for those it impacts.
But what exactly is this transformation, what does it impact upon, and, as importantly, how is it done? The new strategy for success is built around customers, your data and your content.
At face value this may sound daunting, but ensuring harmony and an uninterrupted cycle of ongoing transformation is what every business needs to excel in this new age of digital. Success is within reach if your organization can honor and embrace the following tenets:
#1 - Data is the foundation for transformation.
Data will only continue to grow. There has never been a more important time to make data a priority and to have a road map for delivering value from it. New platforms provide great opportunities for communication, engagement, and risk management. Data sharing and collaboration will play an important part in growth as business rules and policies will govern the ability to collect and analyze internal and external data. More importantly, business rules will govern an organization’s ability to generate knowledge, and, ultimately, value. In order to deliver on the promise, data must be delivered consistently, with standard definitions, and organizations must have the ability to reconcile data models from different systems.
#2 - The consumer is critical for transformation to succeed.
Without question, consumers not only hold high expectations but also create them to serve their needs. It has been said that “our happiness depends less on objective conditions and more on our own expectations. Expectations, however, tend to adapt to conditions.”
But what if expectations are out of sync with what a strategy is capable of accomplishing? Consumer expectations need to be gauged at the beginning of strategic planning to ensure that experiences match user expectations. Undeniably, the consumer experience starts with discipline, work, and pursuit of always evolving, ever-higher standards. Service-providing websites can be personalized through identification of the market segment. Putting consumers, or end users, at the center has been standard commercial practice for many decades, but delivering positive consumer experience is an ongoing dialogue that requires nurturing and sometimes renewal.
#3 - Technology works best when it is leveraged to transform data into information and then information into insight that can generate knowledge—something actionable and meaningful.
Data provides the fuel to optimize processes and the technology. But if the data delivered does not match the user expectations, then the efficiencies of a personalized consumer experience are lost. Technology is a tool capable of being used to achieve a specific goal. The tool’s functionality has the capacity to produce satisfaction when used to perform a particular task. Understanding the needs of users and providing those touch points will increase the perception of personalization and improve the overall experience. Leveraging technology to transform data into information, then insight, is what ultimately generates action and meaning.
The digital 21st Century has smashed old ways of doing business. It is no longer possible to “always do what you always did.” Technology has completely changed how organizations create, access and consume data and content. Business strategy today means the tried and tested triumvirate of people, process and technology must operate in unison rather than following one another.
Managing information in a digital world is as complex as the digital workflows supporting the efforts. Data is the link that helps optimize processes and technology. As data grows more complex, there is a risk that your organization won’t identify the data that will match user expectations. It needs vigilance to remain relevant. There is no “set it and forget it” data management strategy any more.
A strong digital foundation will enable new paradigm shifts and new business models to form. The inability to achieve these paradigm shifts and business models will dis-intermediate legacy industries. The future of a prosperous society and business will be dependent on those who innovate.