The Role of Data in Digital Transformation

The Role of Data in Digital Transformation

The Role of Data in Digital Transformation
There is not a single aspect of business today that has remained untouched by digital technologies. A recent survey from Progress found that businesses are beginning to recognize the tremendous importance of implementing a digital strategy, with more than half of respondents reporting that data connectivity and integration are critical components for digital transformation. The survey report, titled “Are Businesses Really Digitally Transforming or Living in Digital Denial?,” polled more than 700 digital decision makers to learn their thoughts on the topic and what their plans are for addressing its challenges.

One of the main drivers for digital transformation reported in the survey was optimizing customer experiences and engagement, with 61 percent of respondents reporting that improving customer experiences is the top priority for organizations in the next 12 months. A recent report from Forrester confirmed this, finding that more than 60 percent of executives identified delivering a superior experience for customers and creating new sources of customer value as important factors in determining an organization’s success as a digital business. These goals aren’t just pipedreams either – organizations are backing this assertion with serious budgetary investment, with half of respondents planning to invest in building applications in the next year that support the customer engagement model.

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So what role does data play in achieving these goals through a successful digital transformation? To begin, the data a company collects can be analyzed for insights that help the company personalize its interactions with customers. Data can be used to find trends around a customer’s habits, which is typically indicative of their future interests. Additionally, data collected from customers can be used for sentiment comparison, which shows the company how well or poorly products and experiences are being received. With this information, businesses can more closely target and anticipate their customers’ needs, making the necessary adjustments to improve their offerings and better engage their targeted audience members.

The categorization and analysis of data is also a critical part of a business’ operational efficiency. Along with optimizing customer experiences and engagement, improving efficiency is viewed as a key driver of digital transformation, with just about half of the Progress survey respondents indicating that it is important, if not critical. More than half stated that they need to improve business agility to achieve their business priorities.

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