The digital transformation has been accompanying companies for some years now, presenting them with major challenges. What began as a transformation was ruthlessly accelerated by the COVID pandemic. Dan Sommer, Senior Director of Market Intelligence at Qlik, speaks of a "digital switch" that was flipped by COVID and acutely challenges companies – because things would never be the same in the future. As a guest speaker in last year's online seminar, he expressed the following conviction: „Those organizations, that haven’t started their digitization journeys, their transformation journeys – they will not survive this crisis the longer this COVID situation goes on.“
In this article, we provide a compact overview of important topics and developments that companies should be aware of regarding the digital transformation.
Three questions that companies should be able to answer with YES
Do you have strong cash flow and a strong balance sheet?
Have you turned the "digital switch" and adapted processes and business models?
Is your company agile and adaptive?
That means can your company support this digital transformation insofar as your employees can work efficiently from home? Can you continue to generate critical value for your customers?
Three directions in which companies need to develop
The raw material that drives digital transformation – both in its acute form as the "digital switch" and in the long term as "digital transformation" – is data. Three developments are particularly important for companies here.
Business processes need to be rethought and redesigned. The importance of optimizing value-adding processes is increasing enormously.
New opportunities in the form of data-oriented business models must be grasped and advanced.
Agility must be increased – without increasing risk. Resilient processes must ensure that risk evaluation and action derivation take effect in time to systematically learn and stay one step ahead.
The role of analytical capability
A key role in achieving these goals is played by analytic capabilities as well as the analytic competence, i.e., enterprise intelligence of companies. Technological changes are enabling the transformation of analytics towards "insight delivery" and data literate employees. This evolution is accompanied by a paradigm shift: Analytics embedded in the process will transform/redesign the process. Process analytics will reshape processes – not the other way around.
What exactly does this mean and how do business analytics and process mining help companies to establish the necessary Active Intelligence in processes? To discuss this topic in greater depth, we have invited Dan Sommer to the eSeminar on February 11, 2021. Together with our Process Mining expert Constantin Wehmschulte, he will present exciting insights and solution approaches. In addition, you will gain insight into the Enterprise Performance Intelligence Platform MPM Process Mining.
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