Data is Key to a Successful Digital Transformation
Nowadays, every organization is undergoing some form of digital transformation. However, these transformations mean different things to different organizations. These transformations become a process, operation, and tool to move business from a traditional to a digital way. In this article, we will discuss why data is key to successful digital transformation. Digital transformation includes everything from setting up a mobile app or a website to re-formatting and digitally enabling an enterprise. Research has shown that the success rate for digital transformation is consistently low. Does a business need a robust data strategy for the success of data transformation?
According to McKinsey Global Survey on digital transformation, there are some factors which may improve the success rate of digital transformation:
- A right digital-savvy leader in the organization
- Developing new talent and skills for the workforce of the future
- Empowering people to work in new ways
- Finding new tools for the digital upgrade
- Communicating a change story via traditional and digital techniques
With time, more and more organizations are realizing that data is the key to a successful digital transformation. The need for a good data strategy and quality is becoming the driving force toward digital transformation. In order to do that, a company needs a lot of data to process along with the various forms from where the data is likely to be stored, including structured databases to unstructured sources like word files or emails, which are stored in several different places. Sometimes that storage data can lead to storage costs and increasing security risks. That’s why it is crucial to have a good data strategy.
What should be the Data Strategy?
As stated, data quality is at the center of successful digital transformation. However, you must know why it is vital to have cleansed and centralized data. Most of the time, businesses don’t know about 80% of their data sources. Knowing how to clean and centralize your data will become the first step towards a successful data strategy. After that, it is essential to identify and discard the data which is no longer valuable for your business. Here are some points that an organization should consider before discarding or storing any data:
Data protection method
It is essential to choose robust data protection policies in order to be carefree regarding the security, backup, and recovery of your data.
Scale
For a successful data strategy, you must choose a platform that has an extent according to the demand of your company. The range should be in terms of performance and capacity.
Storage Location
Choosing an inexpensive location to store your data securely can be tricky. For that, on-site data centers are an expensive way to start compared to the cloud-based services.
Data Format
Consider a data format that ensures you get the most out of it, such as Hadoop file system or Object Storage.
Translation tool
A translation mechanism can help you to collect data from different apps and to have enough data for your business. All these steps contribute to the successful data strategy, which ultimately leads to successful data transformation. With such policies, your business will benefit from improved customer service and increased productivity, that only an AI-driven data analytics can deliver.
This brings us to the end of our discussion on why data is key to successful digital transformation. Now, please let us know your thoughts on the topic.
