![]() ![]() The quality and dexterity of these digital tools is constantly being updated, and staying fully aware of current options is one of the core offerings of digital strategy consultants. APPLYING TECHNOLOGY TO SPECIFIC BUSINESS GOALSĭepending on the trajectory of an individual company, a growing technological toolbox is available for meeting specific business goals. ![]() Meanwhile, a handful of technologies become runaway successes almost immediately, because they fill an authentic need for a wide array of current commercial operations. Others may have narrow uses, supporting business models only within a highly specialized industry. Some tech wonders are sidelined as fun but not cost-effective for real-world uses. ![]() MARKETPLACE FORCES SHAPE THE EVOLUTION OF TECHNOLOGYĪs time passes, the assortment of blue-sky inventions are gradually shaped by the realities of the marketplace. Otherwise, even the most dazzling new capability won’t be a good investment for that company. However, technology only becomes disruptive when it can be directly applied to a company’s individual strategic framework. Each time a new technological frontier is crossed, the starstruck developers declare that the world is on the brink of a major transformation. Engineers and visionaries across the globe are constantly pushing the limits of what’s possible, from robots and wearables to “mixed reality” environments and voice recognition systems. Advances in technology continue to facilitate unprecedented new capabilities. Technological innovations come and go, while digital is about strategy and business models. TECHNOLOGY DOESN’T EQUAL INNOVATIONĪs a basis for defining the concept of digital transformation, it’s important to differentiate this term from the foundational availability of technology. Companies that succeed in this effort to become more digitally mature are those which combine strong leadership with agile adaptive patterns. The phrase refers to the application of technology in a strategic framework directed toward achieving a company’s goals. Though the term can refer to many different and incredibly complex processes, the actual meaning of digital transformation is fairly simple: the use of technology to increase the value or efficiency of any aspect of your business model.ĭigital transformation is a core element in business planning across every industry today. ![]()
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