The transformations in the digital horizons should be such that it directly benefits the businesses. The majority of the organizations are implementing the newer trends in technology to scale up the business processes, and are inclined towards optimizing the profits obtained as the results.
The trends in digital transformation are an outcome of research and analysis of which of the latest tech buzz is going to improve the business, and largely benefit the sales and ongoing business projects.
We have come up with 4 important digital transformation trends in businesses that will be eyed upon in the year 2020.
- Implementing APIs in the Businesses
The businesses that utilize APIs are enjoying great success and growing bigger. The businesses increase remarkably in size in terms of productivity, profit and work quality after the introduction of APIs.
91% of the business which utilizes APIs, are benefitted in revenue and outcomes, says the statistics.
In a survey report by MuleSoft, 53% of the businesses admitted that the application of APIs helped in improving the productivity of the business outcome. This was closely followed by the promotion of innovation, enhanced engagement of employees, a decrease in the cost of operations, and many more.
- Recognizing the Potential of Artificial Intelligence and Machine Learning
The companies are now recognizing the infinite potential of AI and ML in the business processes, and so, heavily drawing the technological solutions and hence, witnessing growth upshoot in terms of customer experience, improved productivity and much more.
The MuleSoft survey report came up with fascinating business revelations. The study stated that 37% of the surveyed businesses accept AI to be of utmost importance in the businesses, and there is a forecasted 95% growth projection in the implementation of AI in a forthcoming couple of years.
It also was stated that a quarter of all the operations for customer services will be dependent on virtual assistants.
Highlighted by the survey are the statistics of 56% of businesses voting for ML as the most common artificially ‘intelligent’ technologies to be implemented in the businesses.
- IT as the Collaborative Partner
On being asked for what is the most prior digital transformation goal desired to be achieved by the organization, 83% of the businesses replied leveraging IT into the processes to be the hottest target for the companies.
To meet up with the demand for quick and quality outputs, the companies need to benefit the most out of the advanced technologies.
As of 2019, Security, Big Data, IoT, Multi-cloud strategy, AI, and Blockchain were the hottest sectors with most of the business investments.
- Data Analytics is at the Core
Predicting the accurate future of the business, and obtaining valuable suggestions for how to perform the tasks for maximizing the success of the projects, is achieved by using data analytics.
The Descriptive Analytics focuses on summarizing the overall performance of a business project, based on raw data.
The Predictive Analytics is the approach where the direction of the business is determined, whereas the Prescriptive Analytics enables the businesses to know the business direction and also provides pieces of advice for better performance of the projects.