Top 5 Real-Life Examples of Digital Transformation
Like it
Share it
03 Mar
6 min
798
360
Digital transformation comes at the top when it comes to revolutionizing the way businesses conduct and interact with their customers. There are organizations out there who already have embraced digital transformation, thereby, excellent success while some are still behind the curve.
Be it startups to SMEs and even enterprise businesses, the majority of them have adopted innovative strategies intending to leverage the benefits of technologies. Doing so helps them take their businesses to the next level, and squeeze an abundance of success.
In this article, we’re going to navigate you through a comprehensive guide on the top 5 examples of digital transformation. We not only let you know the digital transformation examples but also what’s digital transformation along with its benefits, and the like.
Let’s dig deeper!
What is Digital Transformation?
Digital transformation tends to be the procedure of making use of technologies to alter and rapidly enhance the way businesses operate. It involves integrating digital technologies into different areas of your business including strategy, marketing, operation, as well as customer service.
Digital transformation now has become a significant element of modern organizations willing to embrace success. Digital transformation aims to optimize internal business processes, enhance efficiency and productivity, and optimize customer experience.
Apart from these, all digital transformation aims to develop new services and products by creating excellent business strategies for business growth. It assists organizations in staying competitive in this ever-changing business landscape— as it offers efficient solutions to cater to their customer’s needs.
Benefits of Digital Transformation
Before digging deeper into our key discussion point, we should know the benefits of digital transformation. Digital transformation brings forth a wide array of advantages across different aspects of business operations as well as customer interactions:
Data-Driven Decision-Making— Digital transformation offers access to comprehensive data and analytics, enabling businesses to make informed decisions, leading to excellent and impactful business choices.Â
Enhanced Agility— Embracing digital technologies provides streamlined adoption to market change, ensuring organizations remain agile and competitive in this ever-evolving landscape.Â
Increased Efficiency— Digital tools offer automation, streamlining procedures, lessening manual efforts and operational expenses along boosting efficiency.Â
Opportunities for Innovation— Making use of digital transformation creates a constructive environment for innovation, allowing the development of new services, products, and market offerings.
Scalability and Growth— Digital technologies tend to provide scalable solutions, enabling organizations to expand their operations and get a convenient reach to new markets more efficiently.
Improved Customer Experience— Employing digital solutions ensures seamless transactions, tailored interactions, and streamlined responses, ensuring customer satisfaction.
Enhanced Collaboration— Digital tools offer seamless collaboration among teams in organizations and stakeholders, irrespective of any barriers to time, place, and geographical locations, fostering excellent teamwork and productivity.
Robust Security— Digital transformations incorporate strengthened security protocols aimed at safeguarding data and protecting businesses from any kind of cyber threats.
Real-Life Examples of Digital Transformation
Now that we’ve become aware of digital transformation, and its benefits, it’s time to explore real-world examples of the same. In this year 2020, there are organizations out there across different sectors that are implementing digital transformations. Let’s know some of the real-life examples of digital transformation:
Capital One
Capital One happens to be a Virginia-based credit card banking company that embarked on a digital transformation journey dating back to the year 2012. The initiative took place under the leadership of a CEO named Richard Fairbank. The CEO articulated a vision to evolve Capital One into a complete technology company known for doing banking business, rather than only a bank making use of technology.
The ambition of this initiative was to provide completely tailored banking services in real-time, to serve individual customer’s requirements. Aiming to bring this vision to reality, Capital One leveraged a new-era technology stack, embracing competencies of big data and machine learning to grasp deeper insights into its customer preferences and behavior.
This included dexterous and proficient talents excelling at crafting personalized applications, making use of cloud computing, agile software development methodologies, and DevOps practices. Apart from these, the organization emphasized employing open-source software to ensure innovation and flexibility in its operations.
A considerable milestone in Capital One’s digital transformation journey took place in November 2020. The company made headlines when it announced the closure of comprehensive on-premises data centers. It was a bold move that separated it from others making it the first U.S. bank to take such an effective step. Capital One made itself a leader in customer-oriented innovation within the financial industry.
Walmart
The next one in the list Walmart, has been on a digital transformation journey to transform itself as a tech and innovation company. It aimed at making shopping way faster, and convenient for customers while offering digital experiences.Â
In a strategic shift, Walmart happened to redirect its focus from specifically re-platforming its e-commerce division to a comprehensive re-platforming effort across different facets of its operations. This shift was accompanied by a substantial budget allocation aiming for complete digital transformation. The company invested a staggering sum of around $16.1 billion in 2022, as per independent industry research.
Walmart consistently invested in aiming to digitize every aspect of the business right from supply chain to sales, marketing, and store operation to customer service. This way aims to boost its operational efficiency and cost optimization. The supply chain digitization by Walmart was a significant step—as it assisted the company in serving its customers through in-store, online, and mobiles.Â
Domino’s Pizza
The successful implementation of technology-oriented transformation assisted Domino’s immense shift into “an e-commerce company popular to sell pizza,” Dennis Maloney, Domino’s former chief digital officer led the effort for the very initiative.
Following a considerable decline in its stock price in 2008, Domino’s initiated a comprehensive overhaul focused on revitalizing its menu and leveraging digital technology aiming to enhance operational agility. A key aspect of this initiative was the introduction of Domino’s Tracker, an innovative delivery technology, that allows its customers to track their orders in real-time through an online interface.Â
Building on this success, Domino’s has continued to innovate with its AnyWare technology, enabling customers to place orders through a variety of channels and devices, thereby enhancing convenience and accessibility. The company has touted its efforts of employing artificial intelligence and machine learning technology to improve the quality of the product as well as boosting store and online operations.Â
NIKE
A leading brand in sports footwear, NIKE, is now focusing more on mobile devices. Making use of machine learning along with recommendation algorithms, the brand uses advanced technologies. NIKE’s one application enables its customers to choose the best shoes as per their leg scan.
It has a 13-point map of the feet created by scanning the feet. Apart from this, the application offers the company remarkable information aiming to make footwear projects in the future. In the case of NIKE, innovation led to a complete modernization of a company’s internal operations. Design teams can work in a streamlined way by digitizing 6,000-footwear materials. This change directly influences the response time to market demands.
Starbucks
Last but not least! Starbucks is a well-known coffee chain with more than 32,000 stores in around 80 countries. It is famous among coffee lovers worldwide. Starbucks leveraged the benefits of introducing comprehensive digital transformation along with introducing the ‘Digital Flywheel’ in the year 2017.
The initiative aimed at personalization, payments, transforming rewards, and placing orders depending on customer feedback. Cloud-based platforms enhance the competencies of Starbucks to provide tips and order products along with efficiently managing inventory and production.
Apart from technology, Starbucks also integrated Artificial Intelligence into its application which enables it to personalize its product offerings and provide rewards depending on its customers’ preferences.Â
Conclusion:
That’s all about it. In this article, we discussed the top 5 real-life digital transformation examples. We not only discussed examples but also let you know the basics and the benefits of digital transformation. Hopefully, you’ve got all the information needed.Â
Email
India
