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Digital Transformation Trends: The Future of Business in 2022

by with No Comment Technology

Digital transformation is the implementation of using new technologies to improve existing processes or create entirely new ones. Companies are constantly looking for ways to improve their operations and increase productivity — they want to streamline processes, reduce costs, and automate tasks.

Businesses are now moving from a linear model of production to a networked model where information flows freely between employees, suppliers, customers, partners, and other stakeholders. This means that businesses need to rethink their entire value chain.

What is Digital Transformation?

Digital transformation is about creating an environment where all your people can work together seamlessly with technology. It’s about making sure that any employee has access to the right tools and resources they need to do their job effectively.

It’s also about ensuring that you have a system that enables everyone to collaborate across different departments and locations.

The term digital transformation is often used interchangeably with ‘disruptive innovation’. Disruption refers to the disruption caused by technological advances, while digital transformation refers to the changes required to adapt to these disruptive innovations.

The main goal of digital transformation is to make companies more efficient, effective, agile, and innovative.

How is digital transformation deployed in businesses?

Companies around the world are implementing digital transformation initiatives to help them become more competitive. These initiatives include:

  • Using data analytics to identify problems and opportunities
  • Creating better customer experiences
  • Improving operational efficiency
  • Reducing costs
  • Increasing revenue
  • Increasing brand awareness
  • Improving product quality
Both large corporations and small-to-medium-sized businesses are implementing these initiatives.

What kinds of transformations will we see over the next five years?

Over the next few years, we expect to see these six major types of digital transformation:

1. Business Process Reengineering

Business process reengineering involves automating existing processes and replacing them with automated solutions. For example, companies could use software that automatically generates invoices based on purchase orders instead of manually processing invoices.

2. Internet of Things (IoT)

Nowadays, IoT allows businesses to collect new data and use it to create better products and services. Using IoT, companies can predict future trends and improve existing ones. IoT also helps businesses to create new products and services.

66 percent of executives say that IoT is a strategic necessity for digitally transforming their operations. The overarching reason to adopt IoT is the opportunity this technology offers businesses to collect new and or more data across all operations, including customer data.

3. Cloud Computing

Cloud computing allows companies to outsource IT services to third parties. Instead of having to build and manage their own infrastructure, companies can rent cloud space from providers who offer reliable, scalable, and cost-effective solutions.

4. Video Analytics

Video analytics is using AI technology to analyze or detect patterns in video footage. Video analytics help companies monitor what’s happening in their facilities. The resulting data can provide real-time insights into how things operate.

Video analytics can also help companies identify potential safety issues before they happen. This could save lives by preventing accidents from occurring in the first place.

5. Cybersecurity Analytics

The internet has become a major hub of information for businesses, providing access to customers, partners, competitors, and suppliers. This means that companies must protect their valuable resources from cyber-attacks.

Cybersecurity analytics help companies detect when an attack is occurring and allow them to respond quickly. This prevents breaches from affecting company assets or causing financial losses.

6. Big Data

Big Data is one of the most significant drivers of digital transformation. Companies use big data to improve customer experience, increase operational efficiency, reduce costs, and gain new insights about their markets.

How should companies approach digital transformation?

Digital transformation is not just about new technologies — it’s about changing the way we think and act. It requires a cultural shift within organizations and across industries. Companies must embrace new ways of working, including flexible deployments, remote teams, and automation. They must also rethink processes and systems to ensure they meet customers’ needs.

Why should businesses adopt digital transformation?

If you’re not already working towards digital transformation, then your company is at risk of falling behind and becoming obsolete. The global market for digital transformation is estimated to grow from USD 521.5 billion in 2021 to USD 1247.5 billion by 2026.

Not implementing digital transformation initiatives allows your competitors to gain an edge by using these new technologies to get faster access to markets and wide-reaching customer bases.

In short, digital transformation is one of the most exciting trends in business today. It’s about creating a new experience for consumers and employees alike, and it’s happening across varied industries the world over.

 
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Post-Pandemic Situational Monitoring with Big Data

by with No Comment Post-Pandemic Topics

The period of lockdowns around the world is coming to an end. It is inevitable that business and operations need to reopen for economic survival. However, the possibility of new waves of the virus after re-opening is an issue that requires close monitoring.

Balancing Economic Activities and Epidemic Control

The answer to this problem is actively sought out by various government agencies. From gradual re-openings within borders, to the conditional re-openings at borders (such as travel bubbles), these policies and measures are already starting to be implemented in many areas.    

The most important supporting measure after a lockdown – apart from wearing masks, social distancing, and frequent hand-washing – should be epidemic surveillance. This means monitoring those in home quarantines and self-isolation. For example, once a confirmed case is discovered, the history of who they came in contact with needs to be determined in the shortest time possible. Once those potentially infected people are discovered, monitoring them and possibly enforcing home quarantine and self-isolation is a high priority.  

When monitoring is not automated, the staffing required will be massive and it may not be possible to execute quickly. A failure like this could cause a large-scale community-based spread of the virus that cannot be traced, which would then lead to the city needing to return to lockdowns yet again.

Considering automated monitoring, it can be applied via the deployment and use of post-pandemic area management solutions like big data analysis. From monitoring home quarantines and whether the monitoring device of a quarantined person strays from its designated location, to understanding the previous movements of a newly diagnosed person – automated big data analysis can be applied to identify possible connections quickly, accurately, and efficiently.

The monitoring devices used for quarantine and self-isolation are IoT devices that can report back to the big data platform at set times. Once an irregular report from the IoT device is recorded, the big data platform can immediately issue an alarm to notify personnel.

Understanding Contact History with Big Data

To accurately understand the contact history of a newly diagnosed person, data from multiple sources is required. For example, the logs from a telecommunication company’s cell tower, check-in/out times from locations using ID verification, CCTV recordings, credit card spending history, etc. would all be utilized in contact tracing. These data can ultimately be analyzed to find possible contacts with location/time crossovers.

For integrating heterogeneous data from multiple sources, Gorilla’s big data analysis platform provides real-time event notifications and space–time analysis functionality, making it an optimal solution for contact tracing.

Contact us to learn more about post-pandemic area management solutions like our big data platform. If you’d like to read more in-depth on the topic, please check out the whitepaper we recently published here: https://www.gorilla-technology.com/Edge-AI/whitepapers