A robust digital transformation strategy improves productivity, data-driven insights, decision-making, customer engagement, and revenue. With more and more companies recognizing the value (and necessity) of ongoing digital transformation, global investment in digital transformation is set to double between 2020 and 2024.
However, the widespread investment in digitization tools — and the vast amount of data these generate — can give rise to several business challenges, including
Data management issues
Companies are now working with large sets of data extracted from diverse sources. These tend to have different formats, purposes, and levels of completeness, making it difficult to identify errors, erase duplicates, and assess the validity of your data.
Cloud computing limitations
As more industries rely on cloud computing in the wake of the pandemic, a one-size-fits-all, general-purpose cloud service may be insufficient for industries that need to meet specific requirements, regulations, or guidelines.
Data privacy and cybersecurity
Hybrid work, digitization, and cloud reliance threaten data security, as employees now use both company and personal devices to manage their work. Consequently, data security is a pertinent business challenge, with cyberattacks such as phishing, ransomware, and cloud vulnerabilities on the rise.
o diminish the adverse effects of digital transformation — and stop it from becoming an ongoing business challenge — you can establish business goals that cover:
Data consolidation and observability
Shifting to industry cloud
Investing in cybersecurity AI.