Digital transformation – professional services firms and businesses
When one thinks of digital transformation, the first thing that comes to mind is probably the use of cutting-edge technologies and advanced data analytics. In the realm of business, however, corporate strategy and consumer willingness to embrace change are the most important considerations behind the incorporation of digital methods in client solutions. Imagine if a supermarket adopted highly advanced analytics to glean insights into consumer purchase patterns, only to receive backlash about this practice due to consumer concerns over privacy intrusion, ultimately driving customers away and driving down sales, this would be an example where digital transformation is misapplied. As such, digital solutions should not take precedence over, but instead go hand in hand with client and market demands.