Digital Transformation — A Journey
Digital transformation is ongoing journey for any society and enterprise. There is no measure and finish line where society and enterprise can stop and say they have achieved it!!. With radical changes in business needs and ever changing customer requirement, businesses keeps rolling digital transformation ball.
To understand the basics of DT, lets take a journey with a hypothetical software service company which aggregates the data after collecting it from multiple third party supply-chain based companies sources. Let’s call it “GL Aggregator” and see how it transformed digitally. In this journey we will analyze how company has done comprehensive changes in attitude that enables it to remain relevant and competitive. Thanks to great leadership (C -panel) of company for enabling businesses to create new revenue sources, transform their business thinking, and remain agile.
Let’s go back to 2006 when company has started its digital journey with “Defense In Depth” model and established multiple data centers with several network zones, DMZ’s and multi layered firewall’s to restrict traffic across. They have started aggregating data from different data sources in digital form(digitization) and exposed API’s (digitalization) to share data to end users to monetize (revenue stream). At this point of time company has got basic infrastructure from where they have started their services and simultaneously placed a watcher to analyze market risks, trends, competitions, business processes and cultural shift which will have an impact on everyone in the workplace.
With such a great vision and business model company has successfully completed 6 years (2012) of their services and generated good revenue. During this period they have done diverse optimization in business processes, Implemented many new business frameworks and keep rolling its ball of advancement. With great revenue generation they have now planned to analyze and filter their 6 years watcher logs. They have identified following set of improvements that can digitally transform business:
- Move to SOA/Microservices based architecture to enable the continuous delivery/deployment of large, complex applications and evolve technology stack.
- API gateways and API management tools for unified entry points and generate new revenue streams.
- Move to No-sql from traditional RDBMS to manage huge amount of data.
- Use Big data to optimize performance and do predictive analysis.
- Implement software for mobile devices.
- Establish frameworks to automate business processes.
Huh, With these changes the company has actually achieved first level of digital transformation !!!. Congratulations to company “GL Aggregator”!!!.
But as I said before there is no finish line for transformation and C-Panel of this company is aware of this facts. With above changes they have doubled their customer base as their services are now more robust and accurate.
Lets’ progress to 2015, the era when company has collected enormous amount of predictive data and they have planned to engage the customers with new streams to monetize it. Company planned to use cloud based infrastructure for cost-savings and efficiency-improvements and AI/ML for intelligent automation, improve business operations and drive innovation.Company have done following set of digital transformation.
- Data science for “algorithmic” way to present options and features to customers.
- Moved to AWS cloud.
- Realtime analytics, online machine learning, continuous computation, distributed RPC etc.
- Place chatbot to automate L1 and L2 support.
- Place IoT sensors for track provenance.
hurrah, With these changes the company has actually achieved second level of digital transformation !!!. Congratulations again to company “GL Aggregator”!!!.
Sorry but we have not finished yet, Let’s come to 2017–2018 when company is doing very good but they heard about a disruptive technology “Blockchain” and tried to analyze the fact that how they can use this technology to improve their business model and save them from disruption :).
To take advisory company has partnered with blockchain company say BCC!!. BCC has done in-depth study of their business using its blockchain validation model and identified the use-cases where “GL Aggregator” can place blockchain to improve processes, save $$$ value, place new revenue models and digitally transform business using blockchain.
BCC has suggested company to invest in PoC and Pilot to get confidence after seeing real $$$ value savings and process enhancements using features like immutability, cryptography, smart-contracts, P2P networks and many more that blockchain provides.
I am stopping myself here but remember digital transformation of “GL aggregator” will continue due to great vision of C-panel. We will analyze it again in 2020!!!.
Digital Transformation — A Journey was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.