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During the past two years “Digital Transformation” has become the absolute buzzword. Agencies, Consultants and other service providers boldly state that they have done nothing else “in the past ten years.” Bit by bit they have changed wording on websites and in other channels. Today, everyone is transforming something.
This is basically a good thing as it moves the focus from isolated solutions to a more strategic process. However, the term itself is misleading – in both of its components, that is “Digital” and “Transformation.” Alain Veuve explains why in his article on t3n.de.
Most decision-makers have come to realize that the transition of society into the digital age also impacts the business world, thus requiring action. The word “Transformation” implies a beginning and an end. And this is exactly the context in which “Digital Transformation” is viewed. Business leaders realize that they are in arrears, then transform their business, make it ready for the digital age and consider the work done.
Reality is different. Technological progress is exponentially accelerating. We are quick to adopt those technologies that help us or make our lives easier. Digital transformation is but one element in this equation – and it marks the beginning of an era, not its end. The result is that the economy must be fundamentally rebuilt and participants in the economic game must play by a completely different set of rules.
“Digital” implies that changes in the society and the economy are driven solely by information technology. However, industries other than IT have also experienced significant changes in the recent past. And, since technologies are combined in products more and more often, these changes can often be considerably more extensive than in IT alone. Veuve cites Healthcare as an example, and cautions businesses to not just bet on digitalization. Those that do will be as surprised as they were five years ago when digital transformation took off.
The term “Digital Transformation” helped us realize that there are technological challenges that need to be met. Which means this buzzword has done its duty and can be replaced with a clean conscience. This is even more imperative as the term itself, as stated above, is misleading.
My proposal for a new terminology is Perpetual Disruption. The term implies that change is constant and that change has significant consequences. This is exactly what businesses will be confronted with on a daily basis in the future.
Composable business is an interplay of IT architecture, technological solutions and the corresponding mindset. Steven Bailey explains in an article at ComputerWeekly why exactly this enables telco companies to make a push toward digitization.
Knowledge of products that are frequently bought together enables companies to offer their product range in a targeted and customer-oriented manner. In etailment, Steven Bailey & Steffen Kopmeier explain how.