Digital transformation, to various degrees, is driving comprehensive change in the way businesses operate. IDC predicts that spending on digital transformation initiatives will surpass a staggering $2 trillion by 2020. While for some companies, digital transformation applies to outward-facing functions like customer service, for others it is more about driving transformation internally – encouraging employees to work smarter and giving them a sense of belonging, even if they are not working in the same location.
Digital Transformation Across Industries
As more and more companies leverage the power of technology to enhance their business outcomes, the question is no longer about whether they will undergo a digital transformation, but rather how soon. The pressure is to move fast. According to S&P Capital, companies that execute digital strategies boost their profit margin by 57%.
- In the retail industry, digital transformation is enabling retailers to drive substantial value. Amazon Go, for instance, deploys “the world’s most advanced shopping technology”, allowing consumers to use the Amazon Go app to enter the store, shop for products they need, and leave the store without having to stand at the POS counter. The Just Walk Out Technology automatically detects which products have been bought, sends a receipt to consumers and deducts the amount from their Amazon account.
- In the healthcare industry, the use of telehealth is a classic example of digital transformation. Doctor on Demand uses advanced telecommunications and virtual technology to deliver care outside traditional healthcare facilities. Chronically ill patients or the elderly can speak to doctors using their mobile phones and receive health care guidance from the comfort of their homes, enabling substantial cost savings and making healthcare more available and affordable to all classes.
- For the insurance industry, digital transformation is enabling companies to innovate, customize products for specific target segments, offer an omni-channel experience, adopt more advanced risk mitigation techniques, and accelerate the claims process. Insurance major Aviva is setting an example with its digital transformation journey. Automated processes, streamlined back office operations, and the creation of a single customer view is helping them deliver an unparalleled customer experience.
Honing Talent for Digital Transformation
Digital transformation is not just about technology; it is also about aligning and honing your team and processes to foster innovation. With advances in technology causing organizations to reshape and redesign their business processes, success depends entirely on how people cope and drive digital transformation. McKinsey predicts that by 2030, 375 million workers globally could become redundant, thanks to digitization and automation. Although technology will help you innovate products and business models, optimizing operations for leaner processes and empowering employees to deliver impact is what will drive substantial change. Since companies are only as good as the people that build them, training talent is key. And when every aspect of the business is being influenced by technology, can training be left far behind? Traditional training methods like classroom training are no longer effective in the new digital paradigm. What is now needed, is for organizations to adopt modern eLearning practices that would suit the digitally transformed organization. In this digitally transformed world, these advances in training are essential for employees and organizations to survive and thrive.
- Modern eLearning solutions are designed to meet the distinct needs of today’s digital workforce. By identifying key opportunities and skills deficits and leveraging core digital disciplines such as cloud computing and data analytics, these solutions allow each of your departments to proactively address competency gaps, thereby empowering your digital strategy with enhanced capabilities.
- Mobile learning offers great flexibility enabling trainees to grow their skills across multiple contexts, multiple formats, and multiple devices at their own convenience. Learners can access content from virtually anywhere and also interact with the trainer as needed. Trainers can assess student comprehension and adapt and personalize the teaching to lead successful digital transformation journeys, now and for the future.
- 75% of the workforce is expected to be made up of millennials. Research suggests that this audience has an average attention span of a mere 90 seconds. In this situation, microlearning offers small and informal context-based learning experiences that enable people to learn from their own personal learning environment – whenever they need it, wherever they need it and using the device of their choice. These small, short-term learning units offer just the right amount of information needed to achieve a specific objective and quickly close a knowledge or skill gap – a requisite for the people who are a part of digitally transformed organizations.
- As business and technology continue to evolve, a culture of continuous learning needs to be created to keep pace with rapid change. Analytics can help boost learning impact in today’s digitally inclined world. By analyzing data about learners and deciphering trends and patterns from individual interactions, trainers can curate content, optimize modules, and improve the effectiveness of learning programs.
Equipping People with the Right Skills
The essence of digital transformation lies in the talent within the organization. Talent with the skills to innovate in a way that drives digital outcomes. However, cultivating talent is a grave challenge for many organizations; according to Forrester, only 16% of organizations feel that they have the right talent in place for digital transformation. Digital transformation in training enables participants to address their unique individual challenges and explore new and innovative ways of improving their skills and honing their capabilities. In a digital age, what is needed is for organizations to embrace digital training practices such as eLearning, mobile learning, and micro learning to drive employees to successfully navigate the digital transformation journey.
We at eNyota have helped many customers digitally transform their training and development initiatives to advanced eLearning courses. Reach out to us at firstname.lastname@example.org or fill form if you are interested in transforming your training initiatives and one of our representatives will get in touch with you shortly!