The evolving concept of digital transformation in the age of the customer

This digital transformation is the process that businesses need to go through, at the end of which they are able to exploit digital technologies to create new sources of value for customers Going digital is the need of the hour, that cannot and should not be ignored by organisations. This digital transformation, as technology and market research company Forrester defines, is the process that businesses need to go through, at the end of which they are able to exploit digital technologies to create new sources of value for customers, as well as increase operational agility in service of customers. Speaking to Tech2 about the concept of the evolving concept of ‘going digital’ in the age of the customer, Ashutosh Sharma, VP and research director at Forrester, explains that every business’ success is predicated around - a. having a product or service to sell, b. having a sustainable market for those product or service and c. having a value proposition differentiated enough to command prices that allow meeting or exceeding margin expectations of the stakeholders. While the increasing influence of technology from the customers’ end may seem like a threat for enterprises, digital leaders know that technologies such as big data, IoT and cloud are among a host of tools that are available to them and these need to be exploited to create new sources of value to the customer or increase operational agility in service of the customer.