During the last few weeks, I had written about how:
a) How a business can enter into the digital landscape,
b) How digital transformation is a key business strategy, and
c) Digital Transformation Audits can establish a clear systemic baseline for planning.
The truth is that Digital Transformation is nothing new. Information Technology has been permeating into making business processes and systems more efficiency across industries. Banking, Telecom, Manufacturing, Retail et al have moved into IT systems – both internal and external for decades now. So what changes now? What is that the earlier IT systems did not offer that we now call them ‘Digital Systems’? What makes the Digital Realm?
The Digital Realm comprises of seeing everything in ‘digits’. That essentially means that one has to look at manual processes that ‘leak’ the ‘digits’ out and convert them into systems that can capture the digits. What does the ‘digits’ actually mean? They essentially mean ‘data’. In the Digital Realm, every element that interacts with another creates transmits and stores these digits. These digits are nothing but data – and from data, we get information. Information is the core of the Digital Realm.
Now, one might argue that that was information technology is all about – ‘Information’. The key difference however between a digital system and an IT system is that it is a mere change of nomenclature. But there is a realization that has come along with it – new age technologies like ‘IOT’ ‘Big Data’ and ‘Analytics’ have combined to form a more cohesive engineering landscape that essentially enables more comprehensive data capture including device data, data modelling, and analysis – including unstructured data. Add to this the new devices including smartphones and sensors, that enable human interaction all the more interactive, real-time and complicated.
With the introduction of Artificial Intelligence, static data analysis has evolved into ‘Learning Systems’. Artificial Intelligence makes the data speak the smart language – especially to help business decisions being data-driven. Predictive Analytics is an evolution from the analytics of the yore.
Yesterday’s IT is today’s Digital. However, this transformation needs to be looked at with a fresh mindset, with making ‘data speak business’. In this vast Digital Landscape, companies like Bueno Digital work with customers to understand specific areas, like ‘External Digital Systems’.
We will explore ‘External Digital Systems’ in the forthcoming blogs.
Author: Ashok Subramanian is an Entrepreneur, Business Strategist and Investor. He shuttles between Bengaluru and New York running his Investment Consulting, Strategic Ventures and Technology business.