What is a Digital business? What is the role of Digital Business?
We have left behind the traditional business models and entered the digital renaissance of business, the Digital transformation. While in the Indian subcontinent, the Digital transformation has been seen picking up pace, there is a lot that needs to be aligned with the rest of the world. Though the Digital transformation has hit the nation hard, businesses are the first to transform itself into being Digital Business. Digital transformation is the change that is needed in this fast changing world. People need quick, appropriate solutions to problems, using cloud computing. Relying on the traditional approach of delivering business is so yesteryear. But, What is Digital Business?
Digital businesses use technology to create new value in business models, customer experiences and the internal capabilities that support its core operations. In simple language, digital businesses are all about creating new businesses that blur the fine lines between digital and physical worlds and combining it together, called born out of the internet.
Businesses of today offer a variety of products and services to its customers. It is time for companies to change business infrastructure and operation to cater to the needs and demands of the digital age. This infrastructure must have a strong foundation over four basic elements:
Mobility- This is the key element that makes functioning and operation of business easily accessible. Business mobility is the use of personal devices like mobile, laptops or tablets for connecting to cloud-based softwares concerning business. Data can be approached by enabling a cohesive business.
Analytics- Assuming the results and relying on trembling grounds are no more required if raw data can be converted to useful information that can support growth and development of the business. Business analytics is one such component that stabilizes your authority in the industry. Business insights, backed up by facts and figures help make informed decisions.
Social Media- The cut-throat competition over the digital sphere has only increased in recent times. Your service/product needs to reach the consumers, and what better way to make people listen than through social media? Facebook, Twitter, Instagram and LinkedIn are the major forums that can bridge the gap between your business and your customers.
Cloud- Though the first verbal mention of network-based computing dates back to the 1960s, but it is believed that the first use of “cloud computing” in modern context occurred on August 9, 2006. This was by the then Google CEO Eric Schmidt in an industry conference. Cloud- computing has taken down all the barriers that were responsible for disabling business efforts.
The Role of Digital Business
When we look at the global business competition, it is overwhelming to see the opportunities digital transformation has created for all. A hope to join the brigade of global leaders. The most prominent role would be, it created hussle in the existing market by bringing the employees and the customers much closer. The direct contact has cleared the way for propelling companies to learn from each other to beat each other. It has also sped up implementation of rapid testing and quick action methodology.
But, if you feel lost in all that’s happening in and around you, we have got you some help. Growth Surgeons can help you build a successful Digital Business. With our business insights, collaborative guide, elaborative workflow, strategic planning modules, you can see a healthy and clear picture. We help you streamline your business in this digital economy.