Digital Transformation

How is Digital Transformation Affecting Different Industries?

Digital Transformation is the process of integrating modern-age technologies across all business operations to drive fundamental change. Embedding digital transformation in your business operations leads to enhanced efficiency, improved quality, reduced overheads, and greater business agility and helps unlock the value of new customers and shareholders. 

The need to integrate digital transformation varies from one business to another. For instance, one may introduce Cloud Computing or Artificial Intelligence (AI) to enhance its overall customer experience. Or the company may redesign the Supply Chain to leverage the full potential of Machine Learning (ML).

The need, importance, and utility of digital transformation vary from industry to industry. 

In this article, we’ll learn about how Digital Transformation is affecting various industries. 

  • Automotive

The automotive industry can survive without leveraging modern-age technology. However, survival is not the only aspect a business is focused on. In order to stay competitive and become a market player, automotive companies need to develop a multi-lateral operating strategy focused on solving all the problems of modern car buyers. It could be leveraging smart gadgets or developing a platform to sell or rent a car from the comfort of your house. Everything has been possible because of transforming your business operations digitally. 

  • Healthcare

The healthcare industry could survive and grow abundantly in the Covid-19 pandemic because it was already leveraging the disruptive potential of Digital Transformation. When physical contact for examination was impossible, the ultimate power of AI, ML, data analytics, and cloud computing helped healthcare providers save as many lives as possible. Embedding digitalization in the healthcare industry helps in the following ways. 

  • Helps doctors to manage and store patient’s info effectively
  • Allows patients to upload and update their medical information online
  • Eases the workload of therapists
  • Offers a map for the patients to find a nearby clinic in case of casualties
  • Education

Technology integration proved fruitful and competent during the pandemic when students were forced to study remotely. Not just in the hard times, technology has now revolutionized seeking education. You might be sitting in Dubai but can enrol in a University Programme in the United States without travelling. The education industry is the most digitally leveraged.

  • Retail

The retail industry has received proven benefits of digital transformation earlier than most other industries. For example, companies like Amazon started their digitalization in the 90s, and the new technology brought them to their success. In addition, these companies have not grown but have also set an example and provided a pathway for other retailers to benefit from digitization. 

  • FinTech 

With the integration of digital transformation in financial sector industries, the transaction speed will increase, offering ease of transacting and reduced transaction costs. It makes small to high-amount transactions easy, fast and affordable at your convenience. Furthermore, digital transformation is also revolutionizing complex financial concepts like Crypto and Blockchain. 

  • Tourism 

The tourism industry can significantly benefit from the digital transformation process. In terms of online hotels/trains/flight booking, being able to cancel the bookings, plan and book a meal during your travelling journey, and much more. The ease of accessibility has completely changed and enhanced consumer expectations and experience. 

Here are the key areas in which digital transformation is helping businesses across all the global primary industries. 

  • Improving Customer Experience

Clients are demanding when it comes to service and support. These expectations raise the bar regarding customer interaction and real-time support, calling for a digital relationship, which is possible only by digitally transforming your business. 

  • Ensuring Regulatory Compliance

By digitizing sensitive and critical information, it can be kept up to date and digitally archived, improving file traceability, easing facility management, and aiding operations to stay compliant.

  • Increasing Operations Intelligence

Digital asset management facilitates real-time monitoring and data analytics, improving operations intelligence and enabling operators to handle challenges more effectively.

  • Boosting Employee Productivity

Digital technology can aid businesses in offering the correct and necessary information to employees, both in the workplace and on the road, through more effective work requirements, improved planning and scheduling, and optimized logistics information.

  • Leveraging The Advantages of the Cloud

Instead of using email, USB sticks, FTP sites, or external drives to share information, organizations now see the benefits of sharing information and collaborating through the cloud, saving time and money.

What Are The Various Use Cases of Digital Transformation In Various Industries?

The following depicts several scenarios of digital use cases in manufacturing, retail, mining, and farming :

  • Manufacturing

Manufacturing of the future will be connected, and efficient continuous plants will have sensors built into the primary parts of the production process, sending real-time operating status to the control tower. This big data will be aggregated to drive insights to magnify yield, energy efficiency throughout, quality, and the condition of critical equipment for predictive maintenance. Real-time connectivity with sales data will dictate the product mix. Hazardous, repetitive and strenuous work will be automated, allowing more time to focus on the other essential aspects of the business. 

  • Retail

Retail will evolve to be all about customer experience. A digitized retail store will require almost negligible human resources. A consumer can walk into an apparel store and receive notifications on customized promotions based on their purchase history. Augmented reality will revolutionize how we try on clothes. Payment will be conducted automatically. At the back end, shelves will auto-optimize inventory and replenish stock based on analytics of customers and sales data.

  • Mining

Mines will be modified into high-tech, operationally efficient enterprises. Digitization will increase the productivity of mines. Mine planning will be done with the help of advanced software, combining geological and equipment considerations. Large vehicles around the site, excavators and haul trucks will be driverless, equipped instead with sensors to gather terrain data and perform self-diagnostics for predictive maintenance. Drones will monitor environmental data such as air quality, temperature, and weather to optimize daily operations.

  • Farming

Smart farming will transform food production. Farming will be virtually unrecognizable. GPS-controlled tractors will do most of the work, from preparing the soil and sowing seeds to harvesting the yield and trucking it to collection points. Automatic watering and fertilizer systems will utilize sensors to optimize soil conditions and minimize waste. Livestock will be geotagged with location and health sensors. 

Unravel the hidden potential of your business with Nityo’s Digital Transformation Services and penetrate the market deeper, stay ahead of your competition, and enhance the overall customer experience.