A message that has been passed frequently in the market is that every business is a digital business. VILT agrees with this statement but we believe it is actually outdated and incomplete. We believe that more than a digital business, every business is an information business.
This is something that applies to companies that were established in this new digital era, as well as to traditional businesses. It applies to business based on information and companies based on physical products. All of them end up depending on the information they own in order to thrive, gain insight and grow. Digital transformation is the process that many organizations need in order to achieve success.
Companies like Uber, Netflix, Amazon to name a few are leaders and revolutionary in their markets. In the status-quo, they shouldn't be providing the services they provide. Uber doesn't have cars or drivers. Netflix gives you access to the content of many media providers. What they did was to join together data from the customers that need to consume these services and gather the services and products of a variety of providers. This is the power of the business and it can be applied to all the traditional business. Look at how people are now buying their weekly groceries, their clothes, their music...
Also in healthcare, we see a tendency of gathering the patient's medical data in systems that allow them to go to any hospital and doctor, and having access to the full medical background.
“The new consumer wants to have quick access to the products and services they need”
The new consumer wants to have quick access to the products and services they need. In the digital age, everything is available through the web, and even better and faster, on the smartphone in the palms of the individual's hands.
Users are more willing to share their data, being their location, contact, or even biomedical data, in exchange for a fast and customized access to what is needed.
But, in order to achieve that, one must gather and process a lot of data. In the digital age in live in, the individual is more willing to use and application(app) to navigate the world around them than needing to call someone to ask for something specific. Take for example stockbrokers and compare how their work is done in this day, compared to 20 years ago.
So traditional businesses that don't embrace this new era of doing business, will surely be overpassed by visionary ideas, which will build grand new trends for those business models.
These business revolutions always target the end consumer, cutting out the middlemen, with a focus on the younger population. Only after they are regarded as a standard for B2B, and only after they are accepted governmentally. Take for an example how people communicate this day in B2B business, for instance using Skype, WhatsApp messenger or other similar solutions.
This started in the beginning of the millennium as a solution for everyone who is distant from their family and friends to keep in touch. In this day these platforms are used by most companies and they form an integral pathway for communication in the organizations day-to-day activities.
So, don't get stuck on the idea that this will not affect your business, otherwise, you might wake up one day without business.
Take the first step and schedule a meeting in order to learn more.