Digital transformation strategies: a study

Abstract

Digital has been the buzz word ever since Starbucks appointed its first Chief Digital Officer to transform its interaction with its customers and creating additional value for the company, customers and stakeholders in the process. Digital transformation is not only about using the cloud for infrastructure or using social media for marketing and communication, it is a new way of thinking, doing and growing (a business). Although this has been in vogue for a few years now and companies were doing it largely on their own, recently it has garnered a lot of interest and major partnerships are being formed in the IT space to assist companies through this transformation. As companies plod on the path to Digital Maturity, an ecosystem of tools, techniques and thinkers are being created , used and dumped with lightning pace , and while some make it to the final post, a lot of them have fallen ( or falling) by the wayside. What are the generic best practices that companies across industries can adopt and what are the specific industry practices that will add value, these are questions that are being answered continuously as the Digital plan evolves. Now with nations also being swept by the Digitization wave (Smart cities), its interesting time for the convergence of technologies (Social Media, gamification, M2M etc.) and strategies. It is at this juncture that a study of the digital ecosystem will give insights as to how the mantra of being customer centric is driving new business models, strategic game plans, policy and regulation making globally.