Digital Transformation Trends in 2021

The past year has been one of deep transformation and quick digitization

23 Mar 2021
Digital Transformation Trends in 2021

Digital Transformation Trends in 2021

No one could have expected nor predicted the events of 2020. The total breakdown of familiar things, the sudden rise of new needs, and the requirement to trust and rely on the online world for everything. From social interactions, to ordering basic supplies, to checking local and global epidemiological data. Thus the emergence of a crucial need for 24/7 reliable connectivity, at the household level and corporate ones. In the face of this market shift, many businesses had to upgrade their services, move online, or rethink their business model altogether. The past year has been one of deep transformation and disruption. One that favored the quick digitization that was already starting to come about. So, what does that entail?

Business Process Reengineering

We’ve reached a point where maintaining the status quo means falling behind. The reality of new technology is catching up across all sectors. Perhaps at a pace faster than that needed for adaptation. To survive, let alone thrive, businesses have to embrace new tools and rethink their internal processes. Companies must invest in updating the digital skills of their workforce, empower them to work efficiently with tools that are redefining the business. From bespoke software solutions, ERP systems, and highly digitized tools, the process must evolve to match the technology.

Advanced Business Intelligence

The power of data is mighty. And the amount of information that a company can collect from data analysis tools is becoming phenomenal. So these tools have evolved to become more dynamic and offer tailored insights and reports at granular levels. This means businesses have access to more details about their customer base than ever before. This is good news for companies and customers alike. A business can anticipate pain points and apply corrective measures before clients even notice them. The user-centric approach to services is creating a major shift in business intelligence.

Innovative AI and Machine Learning

Artificial intelligence (AI) and machine learning have been trending for a few years already. However, in 2021, this technology is being used in innovative ways and integrated into more areas of day-to-day activities. The pandemic has certainly sped up the implementation of AI in various fields, including the health and medical sectors. Tools now have more connectivity and this means more data. This brings us to the next point.

Sophisticated Predictive Analytics

Predictive analytics focuses on using digital processes such as data mining, modeling, and machine learning. This is used to analyze data and form more or less accurate predictions on future events. Predictive analytics is commonly used for maintenance issues. However, it is taking a form and being applied in new fields as well. These include financial operations, buyer behavior models, and services management.

Distinct Human Capital Management

Digitization requires more than a simple investment in new technologies. It also implies training human resources to learn how to make the most of these tools. There is no shortcut to adopt new tech. And a full endorsement comes only when the employees embrace the digital solutions and realize the potential to support their work. That’s why digital proficiency is becoming a must in the business world.

The Future is Here

It is now clear for many that the highly connected, digitized, and technologically advanced future that we once dreamt of, is here. Back in the 1990s, when the internet was still a novelty, many-a-utopian hoped for the facilities and services we now enjoy thanks to the advent of digitization. Today is yesterday’s future and the most prolific transformations are yet to come. Stay tuned as new trends unfold.