Do we really understand what the meaning of “Going Digital’ is? Obviously there are different interpretations out there in the marketplace. It could mean a number of things ranging from integrating new cutting edge technology like analytics or implementing online marketing and sales techniques. Whichever it is, common consensus is that it’s a unique way of engaging customers. There is no right or wrong answer to this. It really depends on what is right for the enterprise and ultimately their customers.
After having some discussions with business leaders throughout Corporate America, it’s a given that a majority of companies will participate or fully engage in the Digital Transformation.
The focus of the enterprise should be to increase their ‘Digital Quotient’ or (DQ). They should be delivering results by leveraging innovative technologies including but not limited to:
- AI (Artificial Intelligence)
- Social Media
- IoT Platform
- Mobile Technology
- Cloud based solutions
What is ‘Digital Quotient’ or(DQ)? ---- ‘a keen ability of an enterprise to utilize digital technologies so that they can be innovative and generate significant business results’.
Enterprises that are in the process of increasing Digital Quotient are the more innovative organizations who are outpacing their competitors. A CEO from a leading corporation stated ‘we aren’t competing with the traditional players anymore. If they are going digital, then we have to act on it asap’.
The more aggressive organizations are designating Chief Digital Officers to help manage the company thru the digital transformation and into a new era of technology and leadership. They will be the ones who are more agile, utilize a Digital Strategy, have the highest DQ score, and ultimately transition themselves into a truly cutting edge, transformational, and innovative organization.