Few things are essential to the success of digital transformation: creating, sharing, and rolling down measurable KPIs; choosing the right-sized project; and giving IT teams the opportunity to innovate.
It’s well known that digitization and data can transform the way businesses operate. But the process is not a simple matter of gathering more information and using the familiar data warehouse and customer analytics approach that starts by collecting data and builds insight from the past. Instead, becoming a digital business requires a major change to the cultural code of an enterprise and developing the skills to find new kinds of value in data. Here are ways to help your journey to digital transformation go as smooth as possible.
Digital transformation is more than a buzzword, and if you do it properly, your business can see sizable results. Here’s one example of a project we did with one of the world’s leading manufacturers of compressed air systems and services. Before the company embarked on digital transformation with us, its market was being commoditized. Manufacturers were coming in from countries in the Far East and other places and challenging its market share. The company sells air compressors, but anybody can make air compressors, and it didn’t want to have to differentiate itself by reducing its prices.
As part of its transformation, the company leveraged the power of IoT. It used sensors in and around its products to capture key environmental and performance data such as temperature, humidity, and vibration. The data is transmitted directly, and in real time, to a system that conducts ongoing predictive analytics to determine whether a part might be prone to failure. This allows the company to identify and replace faulty parts during regularly scheduled maintenance, helping customers avoid unexpected, costly outages on their production lines. So, rather than lowering prices, it offered better products and services—a 60 percent reduction in unscheduled system downtime and costly emergency service visits, giving the company a competitive advantage by enhancing its customer care and customer satisfaction.
The results your company will experience will be different, of course. But if you take the time to handle KPIs properly, be agile, and work with a trusted IT foundation, you’ll be able to focus on the things you know best and succeed in your world.
Best Regards, Silicon Valley innovation Center