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In this Tech Friday’s episode we’ll discuss the reasons Why 2020 Is the Best Time to Go Digital and the key difference between Digitization, digitalization, and digital transformation.

Learn more about here --> Digital Transformation.

In a narrow sense, digital transformation can be mentioned as a paperless office.

In the broadest sense of the term, it is a new approach to doing business, applying digital capabilities to improve organization efficiencies, increase customer value, and create new monetization opportunities. Digital transformation strategy is changing the way business moves; in some cases, creating entirely new classes of businesses.

When businesses are driven right by experts in the digital transformation journey, they become aligned with customers’ demands and flexible in the fast-moving digital future.

Digitization, digitalization, and digital transformation. How not to be confused?

The question is more crucial than a linguistic exercise.

In some respects, digitization of manufacturing industries has enabled new production processes, the Internet of things, and machine vision. Digitization provoked such technologies as smartphones, video games, web applications, cloud services, electronic identification, and even blockchain.

Digitalization refers not only to the IT sphere. Today 94% of all information is digital. Digital data has become a fundamental part of our everyday lives. A wave of digitalization is fueling innovation in business. Organizations change the way they operate to be digitally compatible.

Why Digital Transformation Matters for Your Business?

According to IDC’s research, global spending on the technologies and services that bring the digital transformation process is going to reach $2.3 trillion in 2023, with the period from 2019 to 2023 seeing a steady expansion of digital transformations to reach this figure. This shows that ever-increasing digital transformation is being considered as a long-term investment, with initiatives set to seize a 50% share of worldwide technology investment by 2023.

Here are the 5 main upcoming trends in digital transformation:

• Number 1: More attention to the use of AI and machine learning. Businesses should cope with their wrangled data and then scale this data conveniently. Machine learning and AI will be used in terms of data architecture models — to automate and mitigate the data governance problem.
• Number 2: Public cloud adoption expansion. IT leaders will strive to leverage public cloud capabilities to accelerate value rather than investing time and money developing them internally.
• Number 3: Low-Code Development. This is a faster and simpler way to create an application. Low-code platforms are the most suitable tool for accelerating app delivery. A minimum of hand-coding, and fast setup and deployment enable business users with zero programming experience to build applications using drag-and-drop segments through a clear user interface.
• Number 4: Personalizing customer experience. More and more customers expect from their service provider a seamless omnichannel experience accessible anytime from anywhere. Google, Facebook, Amazon and other giants drive transformation in consumer experiences.
• Number 5: Support Vector Machines. An algorithm that analyzes complex data transformations and figures out how to separate data based on the labels. This helps businesses in their decision-making process. Some typical applications of SVM are face detection, text and hypertext categorization, classification of images, and handwriting recognition.

You can read more on What is Digital Transformation.