Companies that successfully implement digital transformation grow faster than their competitors. In each specific case, this process will look different, depending on particular business peculiarities.
Appropriate solutions in the area of digital transformation technologies are determined based on customer behavior and preferences analysis and peculiar business processes in the company. Those solutions are used to optimize operational efficiency and increase work productivity, as well as create additional value for potential customers. All these features increase the company’s profitability and investment attractiveness.
In this article, we will look at promising digital transformation technologies that are worth paying attention to.
1. Big Data and Real-Time Analytics
Big Data is various structured and unstructured large- volume data, as well as its processing methods that allow analyzing information in a distributed manner.
When transitioning to new technological systems, the amount of data received exponentially grows. It needs correct processing to generate reports that would allow making management decisions in the promptest way possible.
In this context, the ability to get reports in real time, as well as the ability to organize collaboration, is an important advantage.
2. Cloud Technology
Cloud technologies are capable to fundamentally change existing business models. Their utilization provides the ability to flexibly use remote resources with the purpose of storing and processing data on demand, and that substantially reduces hardware and infrastructure costs. This tool ensures efficient work of teams online and allows storing large amounts of data, as well as maintaining their security at the highest level.
Another important advantage of using cloud technologies is the economic benefit for businesses. After all, in-house hardware purchase proves more profitable only for the following few years after the purchase.
3. Artificial Intelligence and Machine Learning
Artificial Intelligence will become the forefront of digital transformation for years to come both for small businesses and industries in general. This is a perfect tool used to automate tasks for making complex decisions. Combined with currently available computing power and machine learning technology, this tool is capable of providing analytics at a previously inaccessible level.
The rapid AI development and the emergence of more new aspects of its application have led to its active implementation in various industries, including IT, financial services, automobile manufacturing, healthcare, etc.
4. Augmented Reality
Evidently, business owners have already understood AR potential well enough because the share of expenses in the commercial sector, associated with this area, continues to grow. This digital transformation technology is already actively utilized in the automotive, medical, and marketing segments.
AR copes well with providing seamless connectivity between the physical and digital worlds, taking the concept of the human-machine interface to a whole new level. A top manager of one of the technology companies once formulated a successful definition, “AR is an IoT for people.”
5. Internet of Things
By the Internet of Things we mean a system of linked devices connected to a World Wide Web and capable of transmitting and exchanging data without human intervention. More and more things around us that we use in everyday life are equipped with built-in sensors and exchange data with other devices to provide the best user experience to people.
If we talk about wearables, this digital transformation technology is most actively developing in the field of healthcare, making the task of monitoring patients’ health simpler.
6. API Based Integration
Various technological solutions based on API and integrated into the software used at the company facilities are a simple and affordable way to use the capabilities of machine learning, AI, and several other technologies. This approach allows companies to create a complete platform for solving important business tasks promptly and with small budget investments.
API is a powerful and flexible tool used to integrate different components into a single system.
7. Robotic Process Automation (RPA)
Companies’ interest in RPA is growing in many niches, especially in the manufacturing sector. The use of robotics goes beyond repetitive routine tasks and gradually spreads to the segment of analytics and decision-making, which used to be an exclusive prerogative for human beings.
From the point of view of digital transformation, RPA plays an important part in increasing speed, accuracy, and operational efficiency and frees up human resources for tasks of a higher level.
To start a digital transformation procedure, it would be not enough to use just one technology or digitize a single business process. An integrated approach to the use of technology is required for all the company’s processes and not only within the enterprise but also in interaction with its customers or partners.
Lvivity is a technology partner for companies in various industries. We help our partners develop their businesses, using advanced technologies. If you want to take the fullest advantage of the potential of digital transformation technologies for your business or are looking for a partner who would help you in implementing the project like this, contact us, and we will be able to offer you the best solution to your business challenges.