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Learn how digital business is a paradigm shift from simple digital transformation that helps businesses respond to their respective markets better and deliver what matters most to customers.
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Raj Vattikuti, Founder and Executive Chairman of Altimetrik, shares how digital business is a paradigm shift from simple digital transformation that helps businesses respond to their respective markets and delivers what matters most to customers. This avatar of enterprise business will bring new growth in terms of revenue, profit, cash and market share by simplifying business and technology without disrupting business operations or a company’s clients.
Why is Digital Business important?
Because companies can now move with greater speed and agility and develop simplified usage of complex data models to identify and more swiftly respond to opportunities. It creates a new discipline and culture of thinking outside of the current complex environment and enables innovation, collaboration, and speed. Many people think digital business is transformation; rather, it is a fundamental change driven by continuous innovation and cultural excitement in organizations that enable higher productivity and tangible business outcomes.
Key elements to digital business are:
• Innovation
• Creating a single source of truth
• Launching simplified digital products
Digital businesses create competitive advantages based on a combination of collaboration between technology and business teams, being focused on specific outcomes, and bringing together digital and physical resources. Substantial ROI comes from delivering fast bite-sized outcomes, rather than taking a big-bang approach. Digital business is simply a new and better way to accelerate business growth and profitability.
Learn about the key behavioral patterns ascribed to digital business:
1. Simplification and continuous innovation through experimentation to create real-time business intelligence and launching improved products.
2. Delivering specific business outcomes whether launching a new product, business or making better decisions.
3. Utilizing practitioners who take an end-to-end perspective and are experienced in bringing agile digital teams and business partners together to collaborate, iterate, and create solutions.
4. Nurturing a continuous discipline as a new way to do business, not a one-time transformation.
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