Ben Rund of Informatica has a Youtube video running these days with the title/question: Enough Heard on Digital Transformation by Uber & AirBnB?
I share this sentiment with Ben. You don’t have to disrupt the whole world to take part in digital transformation and you don’t have to start something completely new. As an established enterprise you can transform your current business and combine the good things from the past with the new opportunities aroused from the digital evolution.
Forrester, the other analyst firm, some years ago devided digital transformation into a loop of:
- Digital Customer Experience
- Digital Operational Excellence
The below figure visualizes this landscape:
What I would like to elaborate on related to this picture is the business ecosystem of your enterprise, which must be included in the everyday digital transformation.
Let’s take the example of product information management:
- Digital customer experience is among other things dependent on complete product information, as we know that 81% of shoppers will leave a webshop if the product information is incomplete or the product image is bad.
- Digital operational excellence does not mean sharing excel sheets. You need a proper Product Informational Management (PIM) solution to handle the product information you have collected inside your enterprise.
However, connect is better than collect. If you are dependent on receiving spreadsheets with product information from your trading partners or you let them put their spreadsheets into your supplier product data portal, you have an everyday digital transformation in front of you.
The solution for that is Product Data Lake.