Dataquest - - CONTENTS -

y Take On Dig­i­tal Def­i­ni­tion of dig­i­tal has been un­der the cloud with many in­ter­pre­ta­tions de­pend­ing on the con­text of the per­son(s). There are 2 parts to Dig­i­tal: 1. Dig­i­ti­za­tion: it is an op­er­a­tional ne­ces­sity and in­volves stan­dard­iz­ing busi­ness pro­cesses for im­proved op­er­a­tional ef­fi­ciency and ex­cel­lence and cost. This helps com­pa­nies scale with dis­ci­plined ex­e­cu­tion im­posed by the tools and tech­nol­ogy and re­tain data se­curely. Thus, Dig­i­ti­za­tion pri­mar­ily fo­cuses on the in­ter­nal or­ga­ni­za­tion.

2. Dig­i­tal­iza­tion: is a cus­tomer fo­cused use of stan­dard avail­able tech­nolo­gies ( SMAC and IoT) that en­ables en­tirely new busi­ness and cus­tomer value propo­si­tions. A dig­i­tal com­pany in­no­vates to de­liver en­hanced prod­ucts, ser­vices and cus­tomer ex­pe­ri­ence and en­gage­ment.

Ren­dezvous with Dig­i­tal

Our (Praxis Home Re­tail Lim­ited) dig­i­tal trans­for­ma­tion plan re­volves around in­te­gra­tion of busi­ness prac­tices and uni­fied value propo­si­tion to the cus­tomer at her terms of en­gage­ment on a chan­nel of her choice to al­low for a seam­less dig­i­tal and phys­i­cal ex­pe­ri­ence. The ground work for this has al­ready be­gun and we are well on our way to start de­liv­er­ing dif­fer­en­ti­ated cus­tomer en­gage­ment soon. These shall man­i­fest with in­store tech­nolo­gies as well as our pres­ence on the in­ter­net and the mo­bile.

3. Dig­i­tal Prac­tices 1. Take a long-term view: don’t mea­sure dig­i­tal­iza­tion ini­tia­tives on short-term ROI or other fi­nan­cial pa­ram­e­ters. With such mea­sures they will fail to take off or be con­strained for re­sources and thus achieve lim­ited or no suc­cess.

2. Make data work for you: most com­pa­nies use data very in­ef­fec­tively, i.e. op­er­a­tional re­ports from trans­ac­tional sys­tems or even dataware­houses con­sumed in spread­sheets. They are a good rear view mir­ror and rarely of­fer pre­dic­tive or pre­scrip­tive an­a­lyt­ics. Thus, data ends up back­ing up de­ci­sions taken based on ex­pe­ri­ence and does not aid de­ci­sion mak­ing

3. Think Cus­tomer: Whether B2B or B2C, think about the cus­tomer and how they take their de­ci­sions; be in their first con­sid­er­a­tion set for buy­ing ser­vices/prod­ucts you have to of­fer. Get into their shoes, en­gage, of­fer in­for­ma­tion and nudge them to a de­ci­sion; it may not al­ways be in your favour, but the re­la­tion­ship bond gets stronger with ev­ery pos­i­tive in­ter­ac­tion.


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