Digital transformation provides opportunities to design advance revenue streams and fulfill the changing needs of the customers. Also, it is a process to address the growth of digital rebels trying to hijack core markets. Along with the potential of digital transformation, there are some possible challenges for developing the companies. Leaders of an organization lack verified models that direct disruptive change. The best industries practices that are emerging are CIOs that create evolution roadmaps that lodge their organization's demands rather than expected ready answers. The advancement in the Data-driven digital transformation has very potential and has the ability to address the competitive threats sat by rebels, as well as to expose opportunities for new business models and revenue streams. In the following article, the emerging best practices have shared in order to reduce the risk of change.
1. Evolve Beyond Bimodal Thinking
Split and replace is never become the best practice for developing companies toward modernizing their core operations. The suitable approach is to run the existing proven IT system that assists them to become the market leader. Simultaneously leader should be understood and fulfill the emerging business needs by adopting the cloud, mobile, social and analytical software. The cross-department collaboration and data sharing are not enough to fulfill the need of the unique requirements of different business processes. It is the responsibility of the chief information officers to design the common framework that prevents silos. By deploying the culture of innovation cross wide to all the members of the IT staff, every member is responsible for creative ideas regarding serving customers more effectively and satisfactory.
2. Design an Infrastructure for Innovation
The chief information officers design infrastructure that gives balance support to the existing operations of the business and fulfills on-demand realities. They have face run time challenges as well as CIOs determining how to get success in both areas concurrently.
The CIOs execute the process through
- Define which current resources continue to supply value to the core business processes
- Discard resources that are disposed of for consolidation or replacement.
- Create a gap analysis in order to find out new investment that fulfills the need of business demands.
While determining the funding priorities, the main goal is business resistance. Companies can not estimate the demand cycle where the client is spread all around the world and access resources 24/7. The CIOs turning toward the cloud computing.
3. Capitalize on New Data-Management Technology
Cloud, mobile application, and other social technology gather lots of attention during transformation discussions, the data-driven revolution required new resources for creating portable information across departments which is available for all business users whatever they need. It is significant for the companies to gain value from the enterprise data marts and warehouse, as well as the connection of these data set with Business Intelligence tools.
4. Address Skills Gaps That Can Stall Transformation Efforts
The data-driven culture in any company is run by innovation oriented professionals. These professionals are usually required new talent that is a combination of technical and business skills. So for the efficient transformation efforts here are tips to design the right team in place.
- Hiring a devoted leader to support new business creativities.
- Guarantee transformation agents must work closely with business leaders.
- While recruiting new talent it is very important to hire people who have technological expertise and must be technology and business savvy.
- Design the new position such as chief data officer who is responsible for data storage, retrieval, security, analytics and other relevant areas responsibilities.
Hiring the multitasking and skilled teams of employees who’s the only concern to innovative. The team reviews the existing policies, data governance rules and regulations and responsible to take other critical decisions.
5. Choose High-Impact Transformation Initiatives
According to the experts of transformation, the fuel of the innovation is pressure, there are many organizations exist that want to transform too much and too soon. The ideal approach is to start with the project that capabilities to quick wins and obvious results.
In payoff the concern is quick, impactful wins, the chief information officers will more easily overawe any natural confrontation to change.
In order to accomplish quick wins, find the scope of projects and keep concentrated. It means finding projects that have a clear starting and ending and which can demonstrate the clear value. It means that accepting the strategic role in which CIOs work along with business experts to establish the new services and product.