What is Digital Transformation? Here is everything you need to know.
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- čas přidán 24. 05. 2024
- Digital transformation is a common and overused buzzword. But what does it mean and how does it apply to your organization? This video explains everything you need to know as a starting point.
Simply put, digital transformation is deploying any sort of technology to automate your business. This could include any one or more of the following technologies:
-ERP software (enterprise resource planning)
-CRM software (customer relationship management)
-HCM software (human capital management)
-SCM (Supply Chain Management) software
-Business Intelligence
-Machine learning
-Artificial intelligence
-Predictive analytics
-Robotics
-Industry 4.0
-internet Of things (iOt)
Digital transformation entails major changes to your business processes and people - which is even more significant than the technology itself. In other words, it is a broader business transformation. This video explains what you need to know to define what digital transformation means for your organization.
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Thank you
I don't think digital transformation nowadays is about automation as such. But its about reinventing the business model of the company using the latest technologies of blockchain, AI, Data science...etc.
Automation is not a technology or a framework or guideline. Its a mindset. And so is Digital Transformation. Its a reformed avtaar of automation. To implement this mindset you need technologies like AI, data analytics, IOT etc..we are just beginning..
Finally, a clear and concise explanation without confusing terminology. Perfect springboard to now go forward and learn more about Digital Transformation. Thanks!
Thank you, Ronan!
Thank you for sharing. I agree with you to putting people at the centre of the digital transformation as ultimately, they are ones who will need to perform. Unless their needs are met by user friendly, agile and accessible technology, businesses can never thrive. One other thing which is equally important is the element of governance which gives a framework to the organisation of how the technology and the business are aligned in order to create value for the organisation. An element which is frequently forgotten.
I love your explanation. This is such a wonderful sharing.
Eric, thank you for this video. I really appreciate the historical context of the term and reframing it into what it really means for businesses today. More and more I feel that business terms and buzzwords can obscure people not really understanding or having shared meaning. I just subscribed to your content, and I’ll look to see if you have other videos like this.
Should I pursue masters in Digital transformation Or look for an internship during my btech digital transformation.. Can u give me some suggestions if u have the experience... 🙏
Your video saved my day! Digital transformation makes now much more sense!!! Thanks
Short, Simple and Precise. Appreciated . Thanks
Thank you. Finally a clear and simple overview, aligned to what I have been describing for sometime. DT is just a buzz word its nothing new, its still IT enabling business transformation!
I really appreciate this video. We're covering this in my IDLT program right now and I have a much better understanding now!
Thank you - very direct and simple!
Thank you. The background explored before establishing the meaning and the further examples were really clear. The link of DT to Business Transformation was easy to understand as well. Many thanks for this short, clear and concise video.
Thank you for the feedback - I’m glad you enjoyed it!
Spot on Eric. As a consultant I can't agree more. Technology is only an enabler and it is constantly changing for the better. Adopting them in the right way to improve business process for real tangible benefit to stakeholders is the real transformation.
Good elaboration ! Thank you Eric. 👏👏
Eric: I downloaded the 2021 report. Many thanks for the great information on digital transformation! I have subscribed to your content.
Very useful Eric!
Thank you for your sharing.
Simple and accurate at the same time. 👍
Excellent presentation underpinned by a high degree of brevity and crystal clear clarity. The key message on the primacy of man for effective transformation is well articulated.
Digital Transformation is not just about technologies like ERP, financial system and etc... Digital Transformation nowadays are how these kind of tools are integrated with the people and with the process of the organization or department. And, above all, how good you handle your clients, competitors (co-operatively), your data, your innovation department and how you increase and deliver your product/service value to the client
Short and effective , very easy explanation Eric. Will subscribe to hear more from you n future !
Spot on Eric. I like how brutally honest you are about having the right people and processes right BEFORE a digital transformation.
My experience has been that some leaders believe the software is the problem and introducing a new ERP system will automatically solve the issues. If a client is unwilling to go through the business transformation it tends to be a red flag for whether the potential partner will be successful through an implementation.
Thank you so much for sharing your experience with us.
Better together,
Tim
[I work with an ERP solution for a specific industry (audiovisual and security integration) and we provide business transformation services prior to digital transformation]
Thank you very much, great explanation!
Thanks for the Clarity !!! I have been trying to get the definition for a very long time.
Love the fact that u r calling out standard semantics BS in current environment.
Now your talking!! Presentation was great & you can understand it
Detailed training including all basics but only in few minutes:
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Thank you for sharing your insights and more power to your team! I've read and downloaded your report and it's amazing how much details gave me a better understanding of what really is digital transformation.
Thank you, Nette. I’m glad the content is useful!
Excellent explanation. Thank you
4:20 Couldn’t agree more on this. What is driving transformation today has little to do with the term ‘digital’. Digitalization has began since Internet. What is currently happening is Data Transformation, i.e. the impact to everyday life by data technology and business paradigm.
You're quite right that the "transformation" part is more crucial than the "digital" part. I was working at IBM under Lou Gerstner and it was a great experience to see how IBM turned around, from net losses of 8 billion to net profits of 3 billion.
Today, to be more specific and thus effective, I'd talk about "computational transformation" to refer to how expert systems and AI can help people and organization become faster, better, cheaper.
It is unfortunate that "computational thinking" is not a skill taught in colleges; it is profoundly transformative.
Can you recommend a book on computer transformation.
?
@@olajidealbert6728 @olajidealbert6728 You can start by reading everything about "computational thinking." It will structure your mind to think about how to solve problems in a way that can be replicated by ordinary humans or computers or robots. The movie The Founder, chronicling the creation of McDonald's is also a good start (notice how he stood on a ladder and drew, with chalk, the entire algorithm for the kitchen).
Everyone needs t "computationally transform" their career or their business if they own/run one.
Colleges, schools and universities that do not teach computational thinking, are doing a HUGE disservice to their students.
Computational Thinking, coupled with computer programming, is a super-power but few people realize this.
Today, with ChatGPT, you don't even have to be a good programmer, you only need to know the basics of a computer language and ChatGPT will code for you.
Great explanation, dear Eric!
Excellent! Thank you.
Eric, loved your way of describing such heavy buzz-words in such simple yet compelling terms, gonna watch your videos for quickly refreshing my knowledge.
Keep up the good work mate!
Really appreciate this video!
Thank you Eric, best breakdown I've heard.
Glad it was helpful!
Thank you Eric :)
Thanks Eric, great information
Thank you. It was very informative. I'm planning to further my education (M.A) is this field and the insight you share is invaluable to me on this journey. Hope to see more of you soon.
Glad it was helpful!
Great video, thank you!
Glad you liked it!
thanks, very simple
Thank you very much for this video
You are welcome
Nice! Thank you.
Helpful. Appreciate
very nice ,thanks
Thank you. I am doing a research about this
Let me if I can be part of this..for me its learning opportunity..thank you
Very relevant. Thank you for demystifying the terminology. Business transformation is what we at KISSFLOW are aiming to propel.
Good stuff thank you Eric
Thank you SIR
Eye opening
This is an absolute delight. I read a book with similar content, and it was an absolute delight. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
Great video, clearly laid out the salient points in plain English and omitted all of the bullshit. Thank you Eric
Great explanation. My company is going through this. Thank you for your simple, but thorough and accurate insight. Spot on.
Glad it was helpful!
Great Video Eric.
Excellent insight....
Thank you!
very nicely understand..
I wish you are my mentor. I Will be delighted and excited to work, learn and grow.
My question: will a startup also need to use digital transformation tools ? Or when/at what level do they have to look for one, based on their business type?
Back in the days, it was called "Computerize" the process
Makes perfect sense to call it Biz Transformation.
Hi Eric. Great videos to follow which I recently discover. Any tips and ideas for those want to start consulting firm to provide digital transformation for small business ? Thank you
😂😂
Thanks for your video, but i just listen to your talk , i want to know more and more the digital port process and other sence video , can you make a video like this content , thank you .
Thanks a lot for so many videos and all of them are very informative, insightful and very presice. Do you have any specific video for Digital Transformation for Chemical (Manufacturing, Cement, Sugar, petrochemical etc) Industry?? If yes please share the link
I would love to see the video to as I'm a chemist
on point! 👍
Wow on the spot
hi,
I want to know what the difference is between digital transformation and digital marketing? Thanks
Very accurate
What about Digital Marketing, besides ERP, CRM, etc?
Thx
The first point of JD was You will be the part of APC Digital transformation team. What is APC here. I can't get it in Google.
In History of Digital Transformation, you mention, paraphrased, "organizations begin to use new technologies and more robust financial software, particularly ERP, as spreadsheets and other technologies revolutionized". Can you point to a few examples?
Thanks for this video, and thanks for details, the Digital Transformation is not about technology only, we have to transform employee mindset and prepare our go live with good change & risk management
Brilliant !
Would you want to join us for a webinar Em for Europe and Middle East ?
Is digital transformation and modernisation the same ?
For a successful digital transformation, we need to adopt a digital mindset. In this episode of Engati CX, we talk to the Co-Founder & CEO of TransformX, Javaid Iqbal, about digital-first mindsets. Watch the video now: @
How does a business properly start while adopting the digital era processes?
I'm in love with this content. I recently read a similar book, and I was completely in love with it. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
جميل
Just the ouline but somewhat biased
Views. Digital transformation means a lot for the organizations which are positively looking forward towards innovation and disruption. Erp is potentially one stepping stone of it and not the one of the patterns of it. Erp transformation and that too Cloud migration is inevitable.
Hello Eric - Can we connect?
LinkedIn is best, you can message me at Eric @ thirdstage-consulting.com
I'm sure this will be a bigger hit than Bitcoin.
So, it sounds like what he's saying is that we have been doing Digital Transformation all along??? This is really not a useful presentation, nor does it describe what the recent trend to Digital transformation is actually trying to achieve. The key thing in Digital Transformation is to focus on the Customer Journey and to use the data that you collect (or should collect) to provide insight to improve the Customer Experience. It is not about process, or efficiency, that is what we have been doing for the last 40 years and not being particularly amazing at! It's about creating new business models to help you fulfil the customer's needs, outside your normal core business. This is achieved looking at the Customer Journey from the customer perspective, not the business perspective. The buzzword here is to look from the Outside In rather than from the Inside Out. I hope people will not start to do 'Digital Transformations' based on Eric's consultancy, as it will keep you firmly in the 1990s and struggling to achieve any value. He's right about one thing, it's not just about technology, people have to change their mindsets, but that is hard when the consultant hasn't changed his.
I disagree somewhat digital transformation is not only the digital but also services like customer experience, BI, Digital Strategy design, adapting digital culture, and corporate social responsibility software is the clue that brings it together.
Very basic and very poor. You have missed the point and the understanding of what Digital Transformation is all about. Digital transformation is the business journey into the new digital economy. Businesses need to focus on 4 main areas and they usually start with ‘Process Transformation’, which brings about opportunities to enhance one’s ‘Business Model’ that enable new powerful differentiators. They also need to be aware of ‘Domain transformation’ ultimately enabling they to compete in new segments never thought possible. But all of this can only be possible if they realise the ‘organisational/cultural’ transformation requirements.
In my experience the main problems I see is that businesses just focus on Process Transformation as it improves efficiency ultimately improving profit, and then they stop. The word Digital is VERY important as people need to understand the different types of data. A business that creates an invoice as a pdf hasn’t really thought about the end to end process as that pdf document usually needs a human on the other side to interpret it, or they use document AI. You can scan a document which makes it hard for processes down the line to interpret it or you can digitize a document whereby other applications can access the data.
Digital Transformation is all about end to end seamless processes, today most business processes are human to human, digital Transformation will enables you to evolve these processes to human to machine and in some cases machine to machine. To achieve this businesses will need to really understand their data and how to leverage it through every part of their business to maximise shareholder value.
What???
Totally wrong
Spot on. Technology is indeed the enabler for a business transformation. Unless redefinition of the business process takes place, modernising technology landscape is useless.
Thank you, Aldo!