Digital transformation is about leveraging technologies to improve processes, competencies, business models, and changing the culture of the company as it requires letting go of old procedures that might be ingrained in the company culture. Many of digital transformation are customer-centric, focusing on customer satisfaction and customer engagement and also reducing costs. Companies are using artificial intelligence and data analytics to make predictions and calculations to bring insights the data hold.
The rapid technological advancements have resulted in the rise of enormous data sets. Organizations are creating new business models and strategic objectives harnessing this data and advanced analytics and evolving technologies. This helps in smarter decision making and value creation. The offerings of transformational analytics are
1. Defining analytics governance, operating model, talent requirements, technology roadmap, and business case development to become a data-driven organization.
2. Assistance in executing solutions allowing to accelerate and scale them for improving business decision making and creating sustainable results.
3. Can demonstrate business performance like growth and customer value, operational and financial value, and compliance value.
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Artificial Intelligence (AI) is a change agent to the future operations. AI is redefining and enabling machines to revolutionize the way business is done. Business needs AI to
1. Make business infrastructure intelligent
2. Improve security.
3. Transform business models to drive more efficiency and productivity.
AI tools are now an integral part of the public as well as private sector organizations. By automation of tasks, companies will be able to free human capital to focus more on operational processes.
AI and transformational analytics are here to stay making organizations competitive and efficient. They are strategic factors to generate sustainable growth and competitive advantages for organizations.