NOVEMBER 2021CIOAPPLICATIONS.COM8IN MY ViewSHUBHA CHAUDHARI, HEAD OF DIGITAL TRANSFORMATION, NOVARTISTSUCCESSFUL DIGITAL TRANSFORMATION.oday many Fortune 500 companies implement some form of Digital Transformation initiatives. There is a realization that digital transformation is an essential innovation ingredient to maximize profits. Digital Transformation can lead to new business models and wider access to markets. Continuous business evolution because of new insights is a key outcome of Digital Transformation.However, there are many beliefs and myths that companies believe with respect to digital transformation. Most common amongst them are implementing the latest technology will magically bring about digital transformation, data science technologies and teams will automatically bring unique insights to drive transformation, partnering with cool software providers and vendors will execute the digital transformation and drive value realization. Digital Transformation is about data ­ acquiring and understanding it, making sense of it, and defining actions. I believe that Digital Transformation is a continuous process, where data gets processed and using analytics identify opportunities, build the problem statement or specification, generate a concept (solution/product) and learn or test the solution. While some companies are in their early stages of digital transformation there are many companies that have nailed it and learning from. Rolls-Royce digitally transformed jet engines that were inefficient, low reliability and durability to state-of-art full authority digital engine control. Their transformation drove better control, better designs, and reliability, fully monitored and from product to service focus for their customers. The most well-known digital transformation companies are the Big Nine: Google, Microsoft, Amazon, Facebook, IBM, and Apple (the "G-MAFIA") in the United States, and Baidu, Alibaba and Tencent (the "BAT") in China. COVID expedited digital transformation journeys acrossB2B, C2C, B2C, academia and research almost touching all industries and all aspects of our lives. There are interesting examples of COVID with respect to digital transformation - shopper engineering changes at Instacart; Israel data engineering teams bartering data insights for more Vaccine supplies; MS Teams, Zoom enabling work and social life and many others. These and myriad of other use cases are evidence that digital transformations can be agile when managed with focus. It is important for companies to embrace Digital Transformation as a continuous process and build a culture of experimentation. Instead of enrolling on multitude of digital transformation initiatives, it is important to understand what essential business critical strategic outcomes and business pain-points need attention. This understanding should allow the digital transformation journey to identify the opportunities. Many companies easily embark on digital journeys, but lack of understanding of measurable outcomes, patience needed during the implementation period and required budget results into minimal or no payoffs. It IN MY View
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