Top 5 Digital Transformation Trends that will Impact Your Business Most in 2020
Digital transformation is the operational change of an organization through the smart integration of digital elements across all verticals of business operations. But, it is not a one-time process. It is a technology evolution that requires constant progression towards a fully integrated digital infrastructure. After all, we know from daily evidence that the promised digital disruption coming to every industry is already here, and it is accelerating faster than ever.
Digital transformation plays a key role in today’s business world. An essential element of digital transformation is, of course, technology. And there is no doubt that these latest technology trends are determining the corporate landscape to be on the front foot in the cutting-edge competition. As well as, provide the best customer experiences to meet the market requirements will be essential to any business success in 2020.
As all business industries getting ready for future challenges, it’s more helpful to know how digitization could figure out the upcoming years. If you want to get your business ready to face the digital future, then these are five trends that you’ll want to be aware of. Here are the top 5 digital transformation trends that help you build a fresh business culture and provide the best customer experience.
Real-time Data Analysis
Analyzing the real-time data is at the heart of digital transformation. Data analysis helps all businesses to streamline business operations, improve customer experiences and quickly launch new products /services. All major tech giants have already predicted that the future is in real-time data, and so, regardless of what industry you’re in, data analysis will again be one of the most leading focal points of digital transformation in 2020.
AI and Machine Learning to Personalize Customer Service
Businesses are gradually more endowing in AI and Machine Learning to accelerate and personalize customer service and increase productivity. They are learning that the value of AI and machine learning tools are dependent upon the data they are fed.
Financial institutions use AI for investing services, fraud detection, and loan approval automated processes. In the retail industry, AI is used for personalized offers and promotions and Healthcare industries make use of ML to improve disease detection.
Chatbots, machine learning, and task automation are the most common use cases of Artificial Intelligence. A recent survey says that 25% of customer service operations will be using virtual customer assistants by 2020.
Blockchain as a Service (BaaS)
One of the promising digital transformation trends in 2020 is BaaS — Blockchain as a Service. It is a new blockchain trend that is currently integrated with a number of startups as well as enterprises. BaaS is a cloud-based service that enables users to develop their own digital products by working with blockchain. These digital products may be smart contracts, decentralized applications (Dapps), or even other services that can work without any setup requirements of the complete blockchain-based infrastructure.
Improved Business Performance with APIs
Organizations using APIs (Application Programming Interface) are experiencing increased productivity, revenue growth and room for innovation, but to deliver full value, they must be productized and easily reusable.
APIs enable organizations to innovate faster and smarter. Some customer use cases were highlighted that show significant improvements in IT delivery speed, faster product launches and an increase in sales based only on API management and optimization techniques.
Partnering with IT to expedite the business process
Every business needs to put IT as a core enabler to exploit the full potential of new and emerging technologies; it helps to advance the customer experience and speeds up the business process.
The digital transformation is enabling businesses to grow faster than ever. There are proven records that digitally backed businesses are more efficient, have better revenue, and provide enhanced services to customers.