Today’s era is best known as the era of Digital innovation. Digital Innovation is the reinvention of methods or processes to operate business in order to cope up with the advanced technology trends. In today’s world, customers have higher expectations from businesses as there is greater visibility and there are different options available in the market. In this unpredictable competitive environment traditional business models, processes, workplace, and skills can be a disadvantage. In order to overcome this, an organization needs to embrace digital Innovation as a driver of revenue and to adapt to changing market scenarios.
Digital innovation helps organizations be flexible, and responsive, and these are undeniably the main prerequisites for the success of any business. Some of the ways in which organizations can use digital innovation to get make smarter use of time, materials, and skills are as follows:
- Deliver greater Customer experience. Organizations should focus on delivering personalized customer experience in order to meet customer expectations.
- Transparency and visibility should be maintained.
- Business models should be predicted through market patterns and forecasts that help decision makers to jump ahead of the competition.
- Collaborations should be pursued so that there is no internal barrier, which will help in the flow of ideas and for innovations.
- Automation of repetitive tasks should be done so as to get employees to focus on valuable tasks. This will boost employee productivity.
Some of the channels to achieve Digital innovation are mentioned as below:
Cloud Computing: Adoption of cloud computing should be the priority task for organizations to improve speed of adoption of digital innovation. The benefit of cloud computing is that it offers flexibility, is agile and is cost effective.
Mobility: Digital innovation could be incorporated in the organization through simple steps like introduction of mobile applications for customers, clients and for employees. This will help in streamlining the process and is also time saving. Instead of presenting presentations, we can just make a small video which will have a greater impact than that of a normal power point presentation.
Big Data: Big data plays a significant role in the process of digital innovation. Creating value through big data is itself a transformation for a business; it gives a combined picture of business goals and customers’ viewpoint.
Digital innovation demands new ways to approach day-to-day responsibilities. DI is critical and important for organizations to retain and attract new generation of talent. These are reasons why it is becoming a top priority for businesses in every industry.