Digital Evolution in Organizations
Organizations have realized the power of data – it is the new oil. Data is flowing in terabytes and petabytes per second, through social media and through Internet of Things (IoT) devices that are being wired to all living and non-living things on the planet. To give some examples, here are some of the top scenarios where organizations are using social media:
- Monitoring Twitter feeds for mentions and sentiment analysis, such as reactions based on negative tweets, and offering to resolve personal complaints
- Offering discounts and coupons to customers who "like" and promote the organization's brand
- Identifying and targeting a social group of customers for special campaigns based on location, age, social status, likes, search history, and so on
- Using professional networking sites such as LinkedIn feeds or Twitter ads to influence senior IT leaders and decision makers and generate leads for your business software or professional services that your organization offers
This demonstrates the evolution of marketing and customer service processes with the advent of social media, which helps organizations to improve their branding as well as improve their customer reach.
While this digital evolution continues, organizations need to be ready to harness the power of digital evolution to their advantage. Technology is not stagnant and keeps evolving as a byproduct of digital evolution. Who would have thought that one of the oldest industries, which delivers your daily pack or bottle of milk, would use 5G connected cows (https://www.reuters.com/article/us-telecoms-5g-cows/5g-connected-cows-test-milking-parlor-of-the-future-idUSKCN1RN1IY) to increase their output of premium quality milk? As you can see in this example, an industry where you wouldn't expect technology to make inroads is pioneering the latest technology to make operations more efficient, make products more desirable, and exceed customer expectations.
At this juncture, it is important to understand the digital transformation process in detail, which we will cover in the next section, along with why it is important for all organizations to not just survive but make large strides to thrive in the ever-emerging world of technology.
