The terms digital transformation and digitization are frequently used interchangeably. Digitization is the process of changing information from analog or manual forms to digital forms, such as translating handwritten records into computerized records. Digitalization is the process of using digital technology and capabilities to do many of the things you now do, but in new and improved ways that lead to greater results. In this blog will explain The Role of Oracle in the Digital Transformation of Industries.
The cornerstone for digital transformation is digitalization. And digital transformation allows you to reinvent how you employ technology, people, and processes to propel your organization forward in new directions.
Three key elements in digital transformation
Digital transformation involves far more than merely incorporating new technologies. It necessitates a deliberate strategy that addresses three fundamental components.
Digital transformation is physical in the sense that it involves the use of technology to shift the business away from manual operations and towards digitised processes. Physical transformation includes the transfer from paper-based record keeping to computerised data collecting, the use of robots, AI, and machine learning (ML), and the installation of data sensors that send information.
Digital transformation is cognitive in the sense that digitalization, including AI and machine learning, enables sophisticated data analysis in which machines perform advanced analysis similar to thinking. These capabilities are altering the responsibilities of data scientists and analysts while increasing the demand for expert-level knowledge employees.
Digital transformation is cultural since it involves humans who are accustomed to responding and reacting in specific ways in their surroundings (for example, at work or at home). Workers in the digital age collaborate with “smart” machines. Workers’ roles evolve in response to new technologically enabled procedures and capacities. Ensuring that everyone understands the need of transformation and is prepared to make the necessary changes contributes to a solid foundation for success.
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Benefits of digital transformation
Almost any company in any industry may benefit from digital-driven operational enhancements that increase value for customers, employees, and partners. Among several benefits of digital transformation are:
- Deeper analytics-based actionable insights
- Faster and more efficient processes
- Increased capacity
- Reduced costs
- Improved safety, quality, and productivity
Digital Transformation in Industries
The show how digital transformation improves outcomes across sectors and other entities.
IoT can increase industrial efficiency and profitability by enabling predictive maintenance and process upgrades that decrease downtime and scrap while guaranteeing high-quality commodities are produced. Augmented reality technologies provide for greater and less expensive training, as well as bringing expertise from afar immediately into the production without the need for a plane ticket.
Digitalization in retail uses devices, channels, and platforms to offer seamless consumer experiences suited to unique customer demands. Chatbots, artificial intelligence, and sophisticated data analytics are assisting retailers in developing and delivering personalised recommendations in order to successfully appeal to an audience of one. The in-store experience is being transformed by digitalization as well, with a more engaging interactive atmosphere and more convenient customer service methods.
The healthcare business is utilising a variety of digital capabilities to develop patient-centric and value-based results that benefit patients, providers, and payers while also lowering costs. Virtual doctor appointments and networked electronic medical records are just two examples of healthcare digitization.
Digitally enabled “smart cities,” which combine existing physical infrastructure with cutting-edge digital technologies, are becoming more efficient while improving people’ safety and quality of life. Sensors, artificial intelligence, and video analytics are assisting the public sector in transforming the way it provides key services in order to achieve more efficiency, reduced costs, and a higher degree of citizen participation.
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