Digital Transformation Trends in 2021
Blog: Think Data Analytics Blog
With time passing by and COVID-19 coming into life, the majority of the businesses in the world started to collapse. And this crisis has made rapid adoption of the technology and also accelerated digital transformation across various industries. Organizations have started to leverage the latest technologies to enhance business productivity and growth and deliver value.
And with all these situations going on, businesses have started to shift to online platforms to build their digital presence and cater to their audience with the best services with the help of software developers. For hiring a team of offshore software developers, you should know the ins-outs of offshore software development and how it contributes to changing the business landscapes. Besides, they also make digital transformation an easy job.
To know more about digital transformation and its trends for the year 2021, let’s go through this blog.
Digital transformation is a very simple process where businesses hire experts who use digital technologies to create new or modify the existing business processes, customer experience, and culture. This process enables businesses to meet the market requirements and serve the majority of the audience. Basically, digital transformation means reimagining of organization in the digital age.
If we look at the current scenario, digital is normal. And the majority of the businesses are striving to manage operations from remote places. And for this, good internet speed is a must. 5G had already been hailed in the last year and now this technology has started to gain more prominence.
The 5G network is something that can easily offer great connectivity and speed to audiences who require reliable connectivity and increased bandwidth. Besides, 5G is going mainstream and will offer better IoT connectivity. It will accelerate digital transformation and enhance digital collaborations and user experience.
Automation is another digital transformation trend that is increasing its pace. Nowadays, businesses have largely started to focus on automating the processes and ERP is the solution for that. During the COVID-19 pandemic, many businesses had to adopt automation in order to keep running the company and remain in the market. Therefore, automation is something that has become the core part of digital transformation. With the use of technologies like machine learning, AI, and robotics being around, companies can make their business automated and agile.
With the increasing use of technology in this pandemic, cybersecurity became more relevant. The main reason behind it is that there have been many attacks on several companies’ sites or portals. So, with the majority of the companies switching their structures to remote working, the need for better security measures has arisen. Therefore, robust cybersecurity practices are the top priority for many businesses that are going through digital transformation.
Some of the most impacted industries because of this rapid digitalization is the finance and banking sector. Most of the services of banks and financial sectors went online and initiated digital credit app processes, digital payments, online loan applications, and more. Besides this, the banks are on the move to enhance the digital UI with the help of efficient digital transformation. And because of this, in the future, we will see a rise in digital banking facilities.
As the technology grows and its adoption increases, new concepts like blockchain come into the picture. Though it is a technology popularly known for cryptocurrency, blockchain is now adopted by various industries, especially financial. This technology has the capabilities to serve each and every field. And in the coming years, blockchain technology will play an important role in cybersecurity and will mature with the increasing adoption.
When we talk about any technology that can make digital transformation possible, we can see that data is always an important factor in that. Data is popularly known as the fuel in customer-centric business models that techies offer these days.
However, collecting and managing data can be difficult, if the company doesn’t have a good infrastructure. And that is when Customer Data Platforms (CDPs) come in. CDPs can easily collect data from all sources, tag, organize, and make them usable for the people. With an abundance of data available in the market today, businesses often use them to the maximum benefit and that is what data analytics has become an important part of this process to enhance growth and efficiency.
As Google has announced that it is going to create a commercial-grade error-free quantum computer, it has become a very important concept of research. This shows that with time, many industries are going to explore quantum computing and learn to use it in a way that enhances digital transformation.
In the situation where more and more businesses are actively migrating to the cloud, it has become more imperative to note the growth & increase of a multi-cloud system. Multi-cloud will remove all the common barriers that the providers have and it also eliminates vendor lock-ins.
Besides, multi-cloud and hybrid cloud systems are the technologies that will flourish and will shape business transformations. With multi-cloud, users can distribute cloud computing software, assets, and applications across different cloud platforms. In addition to this, they can also use various private and public cloud infrastructures.
Everything as a Service(XaaS) is a term for cloud service delivery models. It is a concept that recognizes various services and products across the internet. Besides, it can also simplify the technology deployments. With its quick access, it can be used by a wide audience. In addition to this, the XaaS model can also help in enhancing the agility of the business and streamlining the digital transformation process.
10. Remote Work
Since the pandemic has hit, companies have been working from home. As per many surveys, remote work strategy is something that will stay for a longer period of time as it has proved to bring out the potential in the employees like never before. Besides this, it can also accelerate the digital transformation with the use of more innovative and smart technologies.
As seen in this blog, digital transformation has become a huge approach for all business organizations. Every company is going digital with the help of the latest technologies and practices. This enables businesses to achieve their goals and become accessible to a larger audience. And many trends are coming into the picture with this approach as seen in this blog post which enables businesses to make their processes agile.