Businesses are constantly evolving and are working towards improving themselves. They always strive to stay updated and bring something new for their customers. Over the past few years, there have been a lot of technological advancements, which have changed our lives. With so much competition going on, businesses try everything possible to lure more and more customers. They are continually trying to integrate the latest trends and technologies into their operations, which can be beneficial for their customers and can generate higher revenues for them.
This integration or usage of new technology, to make things simpler, is known as Digital Transformation (DX). According to Forbes, most digital transformations that happen, are usually due to growth opportunities, or by increased pressure from competitors. Approximately 70% of the companies have either made their digital transformation strategy or are working towards making one.
If we talk about digital transformation trends, there may not necessarily always have to be entirely new technology, sometimes just an update or addition to the existing one is enough to change the way, how a business operates. Here in this blog, we are going to talk about some digital transformation trends, which can help your business grow and outshine, amongst your competitors, but before that, we would like to discuss, why your business may require these digital transformations.
Why Businesses Need Digital Transformation
Customer experience is very much important for a business to flourish. A business does everything for its customers and presently, customer experience is the only success metric, for any business. The way a business interacts and communicates with its customers is known as customer experience. It helps them to establish a strong and smooth relationship with their customers.
So, if we talk about the most important reason, for digital transformations, it is making the customers happy. In this world of competition, if a customer does not get something of his choice, he has a lot more options to explore. In simpler words, if you do not offer what your customer wants, he might get it from someone else.
Customers are always fascinated by seeing something new or attracted to something that makes their life easier. They are always keen on using new and the latest technologies, and this is why businesses try to integrate them into their project. Also, these technologies help businesses, ease up their operations, and make they are functioning a lot simpler.
Top Digital Trends for your Business
Digital transformation not just improves the customer experience, but also, helps businesses in managing their employees and speed up the operations. It can be of great help in improving the work culture, and in building a strong relationship with your employees. So, here are some of the most awaited technologies that can completely change how a business works and can prove to be of great help.
1. XaaS (Everything-as-a-Service)
Cloud computing has always helped businesses in simplifying the process of data storage. It allows both businesses, and customers, to handle applications without even installing them. They can easily access their data on any computer that has a good internet connection. Cloud computing services like Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS), have gained momentum in the past few years and it is anticipated to change how businesses work, in the coming few years.
Multiple cloud computing services provide benefits like process scalability, flexibility, operational agility, data decoding, cost- and time-effectiveness, etc. Unlike other services, XaaS services are great at delivering customer satisfaction and reliability. XaaS expedites the process of development, testing, and deployment of apps, without building intricate infrastructures.
2. RPA (Robotic Process Automation)
Robotic Process Automation is one of the most talked technologies of the town. Businesses have started noticing the benefits, which this technology offers and have started working on integrating it, into their operations. RPA robots are trained or programmed in a way to mimic human behavior. They are highly capable of handling some backend business operations like app login and registration, form filling, moving files and folders, data extraction, and much more.
RPA robots are expected to be a lot more accurate than humans and are known to make almost no errors. Businesses are looking forward to using RPA, and some of them are already using this technology, as they can reduce the workload and work much faster, when compared with humans. If you are also looking to integrate this technology into your business, you must hire the services from a well-known AI Development Company, as they have both experience and expertise in doing so.
3. Artificial Intelligence and Machine Learning
AI and ML are the two well-known technologies and have been quite popular among businesses. Both these technologies, if used properly, can be of great help to businesses in making strategies, plans, competitor analysis, etc. Artificial Intelligence and Machine Learning, with their analytical skills, can also help in improving customer interactions.
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These technologies are widely been used in the healthcare industry, and are proving to be of great help, in monitoring and examining various diseases and symptoms, including body measurements, disease history, medications used, etc. AI developers can develop advanced tools that are highly capable of even suggesting the best possible treatment for patients.
4. Virtual Reality and Augmented Reality
The full potential of Virtual Reality (VR) and Augmented Reality (AR) has yet not been explored. Just like AI and ML, these technologies can be a lot more beneficial than just designing advanced games.
Most e-commerce businesses are now trying to integrate Augmented Reality into their mobile app, and some have already successfully done this. Companies like Lenskart and IKEA are already offering options to their users to see how a product will look in real life. This has been a great success for them and helps improve user engagement, which makes AR development services popular among other businesses too.
On the other hand, the demand for VR development services has grown since the last few years in a myriad of industries like education, construction, tourism, etc.
5G is one of the most anticipated technologies of this year. Seeing the multiple benefits of this technology, most big companies have already started making strategies, of integrating this technology into their operations. For example, telecom providers are working on the deployment of this technology. A few of the Android companies have already launched their 5G compatible smartphones into the market.
Not just the mobile industry, 5G is predicted to bring change and help in manufacturing smart vehicles and making smart cities. With several benefits in diverse fields like education, healthcare, agriculture, etc. it can bring a lot more opportunities for businesses.
6. Big Data Analytics
Handling a huge volume of data has always been a problem for most of the companies. These days, businesses are recognizing the significance of real-time data analysis and its importance as to how it can help them to understand their users.
Although Big Data Development services are already high in demand, in the coming years, almost all businesses will invest in this technology, as it can solve all their problems related to data analysis and data management. Investing in automated tools might help businesses to understand user data in a much better way. This will eventually lead to attracting more customers and generating higher revenue.
7. Blockchain Solutions
Most people think that blockchain development is just about cryptocurrency, however, it has gone beyond that. If we talk about some of the major advantages of using blockchain solutions – decentralization, transparency, and immutability are the top ones. This technology facilitates verification without having you to be dependent on any other third-parties. Blockchain development services are gradually becoming popular among a large number of businesses as they can help in reducing transactional costs and improving cash flow.
If used in full potential, this technology can reshape varied industries, like eCommerce, banking, retails, etc. There are many big companies like IBM, Alibaba, and Microsoft which are trying to explore opportunities in this technology.
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8. Chatbot Solutions
Chatbots are gradually becoming an essential part of every business. A large number of companies are using chatbot solutions to interact with their customers and solve their queries. Chatbots are of great help when it comes to improving customer experience, as chatbots are always available to offer solutions and solve queries of users, even when there is no real person available. However, there are still a few industries where chatbots are yet not been used.
Chatbots are also capable of lead generation. They are smart enough to generate leads, follow up on them, and respond to customer’s queries. They can even schedule meetings accordingly. You should consider hiring chatbot developers who have experience in developing chatbots using advanced technologies, to unlock its full potential.
Technologies will continue to keep transforming and helping businesses grow, in all the possible ways. Digital transformation is very much needed by all businesses that are looking to stay ahead of their competitors in the long run. To outshine amongst the crowd, any business needs to be updated with the latest trends and technologies. Technologies not only attract and fascinate users but also help in making business operations simpler. Integrating technologies can also result in higher revenues, but most importantly, they help in improving customer experience.