Digital transformation trends to read about this holiday
Did you know that one study found that for every 10 hours of holiday you take, your work performance can go up by 8%?
Clearly, taking time off work is essential for your business, but even if you don't, you can make the most of the lull in the summer months; it's an excellent time to consider how digitalisation could improve your business performance.
By now, most businesses have taken part in some level of digital transformation and are considering what's next. If this isn't a familiar process for your organisation, you'll be pleased to know you can kick-start your digitalisation journey in just 5 easy steps.
As an insight into what could soon become commonplace for technology-driven organisations, here are 4 trending areas of digital transformation to read about over the summer holiday.
Cloud Technology and why the future is in Multi-Cloud Solutions
There has been a mass migration to the cloud, with 42% of enterprises participating in cloud-native adoption last year which is expected to rise to 50% this year. Google Drive, OneDrive and Dropbox are household names for the everyday cloud user. However, they don't encapsulate the potential of new cloud technology that allows organisations to digitally store large amounts of data and whole business systems.
Now, businesses are moving away from using a single cloud provider, opting for a hybrid of different providers. Why? Utilising various cloud services allows enterprises to create backups of critical data and house systems on multiple cloud platforms. The benefit of multi-cloud solutions is an extra level of stability and security; because data is held in more than one cloud, organisations aren't totally reliant on one provider.
How could a 'cloud-first' approach improve your business?
Entering the metaverse
Augmented and virtual reality have become familiar in the entertainment space and set a basis for the next step - the metaverse. This development of a virtual world users can interact within is now moving into the business space with the creation of online life-like offices for remote teams. The metaverse is one of the fastest rising digital transformation opportunities this year, so it's definitely one to keep an eye on.
The indication that a level of remote working is here to stay gives this development a lot of significance. What if, instead of meeting in physical workspaces, businesses interacted in virtual ones? As futuristic as it sounds, there's evidence that it could prove popular. Lenovo has found that 44% of employees are willing to work in the metaverse and believe it can deliver significant advantages.
There are some clear benefits in terms of workflow and productivity. It could help remote colleagues to build better relationships, providing better accessibility to neurodiverse colleagues or those with other disabilities. With a virtual workspace, a greater sense of unity is created. In terms of training and onboarding team members, the possibility of virtual walk-throughs is promising.
While this technology is in the earlier stage of business application, it offers unique potential for business development.
The power of predictive analytics
Data drives business. With how much analytics have been developing, it's now entering new territory. From marketing analytics to productivity statistics, companies make decisions based on the data they collect about their assets, customers and team members. Without a data strategy, businesses struggle to build upon success. So far, decisions based on data have had to be made using hindsight and the trust that history repeats itself.
What if decisions could be made based on analytics about the future? Predictive analytics is a growing field that can offer businesses that opportunity. Artificial intelligence and machine learning can now analyse past data and combine it with factors such as economic situations and consumer behaviour patterns to better predict the future.
This could be a game-changer in a world where staying ahead of the trends is paramount to success. The ability to respond faster to market changes and strategise accordingly would give businesses much more stability.
An investment in analytics and actionable data is potentially invaluable.
The importance of cybersecurity
Cybersecurity has become an increasing concern with businesses becoming so reliant on technology. In 2020, 79% of enterprises experienced a cybersecurity attack. Migrations to the cloud and other digital transformations require appropriate security measures. There are plenty of stories from businesses who have learned about the importance of cybersecurity the hard way, whether they were victims of social media hacking or data breaches.
Businesses must know what to do if the security procedures they have in place fail to minimise damage. Customers put a lot of trust in the companies they purchase from. In a competitive market, trust can be easily lost. Therefore, the emphasis isn't just on prevention but on crisis management.
So keeping cybersecurity measures up to date and having a crisis procedure in place is an absolute priority for businesses operating online.
These are just some of the areas where digital capabilities are growing. Multi-cloud migration gives you the security of not relying on a single provider. The metaverse tackles the main issue with remote working - a lack of unity. Predictive analytics refines the accuracy of planning and strategising. Cybersecurity protects your business operations, customers and reputation.
Take the opportunity this summer to consider which options and technologies will set you up for progress in the year's final quarter, allowing you to go into 2023 with a competitive edge.