• In an increasingly digital economy, the majority of businesses founded before the Internet era are either trying to digitize parts of their value chain or, more boldly, their entire operations. If they do not, they will simply become irrelevant. As businesses embark on their digital transformation journey, executives may first assume that the focus of transformation lies in ensuring the successful deployment of new digital technologies, however, this is not the case.

While new technologies and solutions, including artificial intelligence, Big Data analytics, machine learning, robotics, etc., take up most of the headlines or keynote sessions at industry conferences, digital transformation is first and foremost about mindset change. No digital technology can successfully transform a business unless there is a shift in mindset; with this shift in mindset, significant business transformation, value creation for new customers and sustainable competitive advantage becomes attainable.

One of the most important areas we think about when we consider digital transformation with a specific input is digital enablement and improvement across the enterprise, bringing value through better understanding, alignment and action of digital and offline data.

So why Data is key in the shift?

We now live in a world where everyone interacts across more fragmented channels and platforms, especially brands and customers. As marketers, we have access to more consumer data than ever before and an ever-expanding range of choices for connecting with customers, including in, via app, and online networks.

Understanding how data and analytics are the thread that runs through the project from beginning to end is crucial as increasingly firms attempt to undertake a digital transformation.

All companies should strive to comprehend well how align this expanding data in real-time, throughout all sources and platforms, including how to utilize it to alter and engage. That’s exactly what a digital transformation with data produces with the proper planning, platform integration, and data strategy.

From highlighting how and where to move to drive exceptional, relevant customer experiences, to knowing how to streamline internal operations, or adjust product – that data holds the key to growth. At its core, a digital transformation is dependent on technology and data to:

1. Create insights and data points that will measurably improve the customer experience with the intent of increasing sales, loyalty and brand advocacy.
2. Enable and unlock intelligence across an organization to highlight how and where you can take time and cost out of the process, with the intent of reducing waste and lowering the cost of doing business.

As a result, a genuinely effective digital transformation entails more than the adoption of a new digital technology or two. It should be a combination of advanced technologies that, first and foremost. Secondly, it gathers and orchestrates data & effectively uses the data to inform the organization that collects it; Finally, integrates technology and data intelligence to provide superior, data-driven consumer brand experiences.

What are the most common challenges that data & digital transformation address?

We all know that the potential for digital transformation is immense. Common difficulties that corporations may seek to address through digital transformation include:

• Eliminate data fragmentation and manage data silos
• Connect online and physical data and integrate 
• Data and MarTech could be used to provide value and insight. 
• Data management, enablement, and activation

What Data and Analytics Components Are Needed for A Successful Digital Transformation?

Too frequently, digital changes fall short of their goals, and the reasons are many and complicated. Starting with a data and analytics framework in mind, on the other hand, would assist push the program ahead and guarantee you get a financial return either now or in the future.

A digital transformation is a continuous program that focuses on data and analytics, rather than a one-time initiative.

Your digital transformation will benefit from a well-defined data strategy.

A data strategy involves more than just data. It’s a well-defined strategy that specifies the people, procedures, and technology your organization needs to use data to achieve its business goals.

Having a thoroughly outlined data management strategy will benefit your digital transformation.

As soon as your data strategy is in place, it is important to outline how you will manage your data, most importantly if your goal is to address business challenges such as eliminating data silos and mitigating data quality issues.

There should be a properly articulated change management strategy to support a data-driven enterprise.

In the absence of a strategy to drive user adoption, your chances of achieving your digital transformation business goals will be poor.

One of the most critical aspects of digital transformation is understanding how your organisation leverages data. Once you know how your organisation uses data, you can work on optimising data usage and applying analytics and insights to drive better business outcomes.

Conclusion :

Digital transformation is, indeed, more about a new mindset than about technology. Yet it is difficult for successful companies to “unlearn” the reasons why they became successful… and to change and adapt before they are forced to. But this is exactly what is required to thrive in the digital-first world.

To achieve success with digital transformation, organizations must begin with a clear understanding of what business challenge needs to be solved and then effectively harness data. Data transformation is far more than merely utilizing data that you currently have access to. Data transformation is a completely new way of doing things that necessitates organizations developing new methods of gathering data and changing data sources into something valuable.