Analyzis of Digital Opportunities
Analysis of Digital Opportunities
Each organization is special, therefore there are no specific rules how to succeed in Digital Transformation. However, some basic findings have been discovered hat seem to be common to all successful organizations:
- The use of new digital technologies are based on the organisation’s and their customer’s own needs, not based on what is “hot” on the market
- The overall Digital Strategy is created to include both technological and organizational aspects of the transformation
- Digital Transformation is steered, controlled and continuously improved based on
- Customer and vendor feedback
- Organizational feedback
- Technological inventions & Competetive environmental changes
The best way to start analysing Digital Opportunities is to start by gathering requirements for the upcoming transformation. The requirements should be gathered from the organisation, customers and other relevant stakeholders, like vendors.
Planning the transformation requires also abilities to understand how current organizational practices, metrics and roles will be affected by the new technologies and digital services.
To succeed with these challenges, the proper Digital Masterplan (Digital Strategy) is for a great advantage. Nordomus Oy has created a template to help organizations to create their own transformation plans.
As part of the Digital Opportunity Analysis -service, Nordomus can in a collaboration with the customer gather the essential input to create the customer’s Digital Masterplan.
Characteristics of Digital Transformation
The process that leads organizations into Digital era is called Digital Business Transformation. Digital Business Transformation (or Digital Transformation for short) is defined as “the use of digital technologies to radically improve a company’s performance“.
Radical improvements are achieved from the “combinatorial” effects of new digital technologies (e.g. mobile, cloud, robotics, artificial intelligence, social media, sensors and analytics, among others). Companies that learn to effectively use combinations of new digital technologies can expect to improve in one or more of three areas:
- Customer enhancements
- Streamlined operations and/or
- New lines of business or business models.
Regardless which area(s) the company chooses to improve, it needs to learn to plan, steer and improve its Digital Transformation process continuously. To succeed with, the organization should start by creating their own Digital Masterplan (Digital Strategy). This plan should be in line with the firm’s wider srategy work. Additionally, it is crucial to understand that producing the Digital Masterplan is not a one-time-task, but a plan that is continuously updated and improved based on organization’s and customers’ feedback.