importance of digital transformation

People who will adhere to the evolving changes in the digital economy will succeed by the fortitude of their digital transformation tactics and the fullness of their digitization.

In the near future, it is visible that the (IoT) Internet of Things based on digital infrastructure is the next big catalyst for technological innovation. Therefore, it wouldn’t be wrong to predict that digital transformation is the next enterprise mega trend.

“The IoT will help achieve digital transformation but will take 5 to 10 years to gain mainstream adoption”, wrote Gartner in Hype Cycle – 2016. It was a serious statement and had made a strong impact on the technology vendors that had invested hugely in IoT to see the IoT appearing on the peak of inflated expectations for the third consecutive year.

Despite the sobering sight, a more comforting thought is that digital transformation of things, that Gartner identified is real and is happening.

The huge oil economy has already been surpassed by the digital economy and the World Economic Forum shows that it is about to reach $100 trillion by 2025. In addition, we can drive concrete results of what the combination of a digital first business model and a sophisticated IoT infrastructure is capable of.

To have relevant digital success stories as examples, Airbnb and Deliveroo showcase how the IoT is exploding data and new opportunities, strengthening individuals to transform human interaction not just locally, regionally but globally through a network of connected devices. This is why, Gartner emphasised that CIOs must stop focusing on investing in commoditized IT and pay a little more attention in developing digital capabilities, and empower diversity in businesses.

UPS, a giant logistics company serves one of the best examples