Value-Based Digital Transformation: Innovating Customer Experiences

Mobile, Social, Analytics, and Cloud technologies have democratized the Organizations embarking on innovation frontiers. Given the rapid technological advances, it is unlikely that any industry has not been digitized yet and the organizations across all industry verticals are finding tangible outcomes to their digital transformation that help propel them forward. Digital transformation, which forms by the digitized platform, is the process of bringing fluidity across the governing data silos and operations backbone in an organization whether they are startups, mature or established. Such a transformation has been a challenging task due to various functional components within an Organization. Digital transformation is not about the use of the latest and greatest technologies and tools instead is a culmination of Culture, Strategy, Collaboration, and Operating Infrastructure. Many Organizations have transformed the products and services into a digitized data bricks layout. However, the management personnel tasked with running their departments or teams effectively and efficiently meeting the expectations set forth by the executives, are mostly pre-occupied reaching the target margins, leaving the value of digital transformation on the table untapped. The value of Digital transformation significantly lies in transforming customer journey experience. Focusing on the value propositions delivered to the end customers and giving the businesses a strategic competitive or differentiator advantage reap great benefits on the customer experience segments. Without losing sight in the independent governing data silos, the organizations can add value by fusing the data segments that are relevant to the customer journey at a given point. Leveraging platform economics theory/model, how to achieve such minimum value digital transformation (MVDT) is the core of this paper: Value-based Digital Transformation- Innovating Customer Journey or Experiences.