Digital operations improvement integrates digital technology in all business areas that fundamentally change the ways one operates and delivers value to customers. It also encompasses a cultural change requiring organizations to challenge their status quo, experiment, and embrace upcoming changes.
Companies are pursuing widespread digitalization to meet rising digital expectations. Meanwhile, digital transformation is turning marginal growth into exponential growth. It is known to accelerate productivity, time to market, deployment of new models, and revenue generation, essential for corporate survival.
Why Digital Improvement?
Companies could adopt digital transformation for multiple reasons, but it is the business survival that triggers it for some. Moreover, technology initiates this shift, and companies must understand how to merge technology with strategy.
At least 30% of the G-2,000 companies will have allocated capital budget equal to at least 10% of revenue to fuel their digital strategies. Therefore, modern companies must know how to harness the power of today’s digital capabilities to evolve, innovate, and drive growth.
The emerging digital tools and capabilities have enabled companies across media, telecom, and software to improve collaboration and decision making, develop new products and services, and gain visibility into their operations.
However, obstacles to acquiring digital capabilities include rigid legacy systems, complex IT architectures, and unintegrated data sources.
Improving Digital Capabilities for Telecom
Telecom companies could start with these core areas to start with digitization programs
Automate the IT infrastructure
Companies need more computational power and storage to collect customer info and transmit it in real-time across applications. Some top companies in telecom have already simplified and automated server deployments, load balancing, and service-ticket management.
This is proving cost-effective and enabling companies to onboard millions of subscribers per month, automate capacity, server throughput, and storage have allowed senior managers to focus on business growth rather than scramble to augment their IT infrastructure.
Digitize the order management process
Companies are centralizing data and automation capabilities to replicate the operations of giant e-commerce companies. For example, automated order-management systems link initial capture and validation of service requests to fraud checks, payment authorizations, billing, and customer communications cost-effectively and quickly. In addition, the adoption of full-service apps has led to a decrease in customer churn.
Establish a robust customer-analytics
Telecom companies’ usage of cloud-based analytics can help customers gain insights from the point-of-sale data they collect. At the same time, customers can use the information to improve shop-floor layouts and schedule staff more effectively.
Telecom companies can attract more customers with this capability, thereby increasing their market share. In addition, a 360-degree view of the customer allows precise functioning of marketing, sales, and other customer-facing functions and makes data-driven decisions.
Digitize customer relationship management
Multichannel access lets telecom build effective customer-relationship management (CRM) systems, reduce costs, enhance customer satisfaction, and track customers’ digital footprint.
For example, the usage of FAQs saves 88% of the cost of answering the same questions on a typical call-center baseline. For an Asian telecom company, community forums and sophisticated search capabilities have made it possible to address 99.5% of all customer questions, with an average response time of 1.5 minutes.
Streamline the company’s application landscape
It is hard for most companies to decide what to upgrade and what to retain when it comes to mapping interdependencies among functions and systems. As a result, top companies remove redundant platforms, automate core processes, and consolidate overlapping capabilities.
A South American telecom company was able to free up the equivalent of 31% of its full-time employees, gain a unified view of customer billing, resolve customer issues faster, and reduce the rate of service errors.
Digital Trends that’s Reshaping Media & Entertainment
A combination of demographic, consumer, and technology trends is dramatically remodeling the media landscape. Let us analyze the ecosystem and technological trends, consumer behavior, and expectations driving digitization.
Changing customer expectations
Consumers judge companies by their service in the same sector. As younger viewers’ expectations are built around instant gratification, they have no problem consuming content from around the globe. As a result, media companies are rushing to give them that experience.
Editorial content Vs. propaganda
Consumers are identifying marketing content. As ad-blockers are being used extensively, marketers are using storytelling and infotainment to catch their attention.
Amateur content creators
Lower internet fees have helped content creators to create content and develop a relationship with their audience.
Access to technology, talent, and financial resources is allowing startups with lean models to bloom. Once they scale up, they invest in content quality with new service offerings, competing with startups and traditional media houses.
Consumers like it when someone curates content for a clean experience. Besides, native advertising platforms are reaching new audiences and are enhancing user experience allowing publishers to charge a premium to advertisers.
Security and privacy
As consumers’ daily activity is turning out to be essential data for companies, consumers choose companies that offer transparency and better data privacy.
Data analytics and content management
Analyzing data collected enables companies to get consumer insights across channels and devices, allowing them to deliver relevant, meaningful experiences and experiential services around content.
Industrializing the media industry
The increase in mobile and internet penetration has given media businesses opportunities to fuel continuous conversations and access to content. Meanwhile, open-source and free software enables the creation of new companies and innovative products.
We are also witnessing the birth of the Internet of Things, a network of connected machines delivering smart devices, offering the industry a range of opportunities to create personalized and seamless services through the availability of cheap sensors, connected devices, and cloud computing.
New digital processes are changing how media is created, distributed, and monetized. Media houses are no more following the traditional media creation and distribution optimization. Still, today, companies are automating this, digitizing catalogs and inventories, launching new rights management systems, and writing algorithms to create content.
How Has Digital Transformed Enterprise Software?
Cloud-centric software platform companies change, tweak, update and augment the functionality of different parts of their software suite. AI and ML drive new levels of automation. In addition to this, there are cloud services, mobile, big data analytics, and other non-analog work processes.
Deeper levels of automation and voice technology
The COVID-19 pandemic has encouraged the adoption of automation. Educational institutions will increase AI and automation practices into their curricula. With automation available, they can scale up rather than scale down human employees in operation terms. Organizations will introduce an automation-first mindset.
There has been speech recognition in its rudimentary form since the 1970s. The 2020s is the decade when the voice comes to the fore. Voice capabilities can empower multitasking, collaboration, and other efficiencies such as accessing job history, note-taking, case activation, etc.
Rise of the AI-coder
AI has now embedded in all kinds of products, from smart home devices to media streaming services. Much of today’s software developers will handle the next-generation AI platforms.
AI systems like Bayou provides developers with autocomplete function to aid in coding using a sophisticated deep learning approach, and Deep Code uses AI to scan and proactively fix errors and security vulnerabilities.
Unleashing mobile developers with 5G
In the 2020s, 4G wireless systems are to be replaced by 5G networks, supporting millions of devices per square mile, with faster connection speeds. It will open the door for mobile developers to make more multimedia-rich experiences on many connected devices.
The massive expansion in IoT and the growing trend for software instrumentation will increase focus on time stamping, which will help drive business decisions. For example, IoT will allow smart cars and machines to produce vast volumes of time-stamped data that create event logs.
5G will help AR and VR take off and fuel the development of autonomous transportation systems, providing yet another field for software developers.
What Comes Next?
Experts believe that the world will generate 463 billion GB of new data every day. However, enterprise organizations will stop referring to their IT department, IT division, database, or data stack. Instead, linking all sorts of data from various sources with each other will get the respective departments with insights in real-time.
Data will come as core operational data, unstructured data coming in from unmanaged information sources, some come from AI. This will create a data revolution. For software developers, this is an opportunity where data comes interwoven from every source.
Data analytics is at the core of enterprise software, media, and telecommunication. As a result, every project will start and end with data analytics. Just imagine a user-interface solving all your business questions; we may solve business-IT alignment challenges and may not need Excel in 30 years’ time.
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Download the whitepaper to learn about the use cases and emerging trends, and improvement areas in enterprise software, media, and telecommunication industries.