Digital Transformation in the Indian Retail, Education, Media & Entertainment Sectors, 2016
Frost & Sullivan (F&S) determines digital enterprise transformation as a set of activities that will reform business processes, empower stakeholders and provide new revenue models using digital technologies (such as Social Media, Mobility, Big Data and Analytics, Cloud technologies, IoT & Automation, and Cyber Security) and by embracing new digital avenues. In the National Digital enterprise readiness Index- survey, F&S has extensively covered the adoption of these digital technologies in transforming the business and creating new opportunities for growth.
Retail industry is the early adopter with respect to adopting digital technologies, whereas the education industry is primarily in the watch-and-learn phase or in initial stages of implementation of IoT and other technologies.
Social media tools have been the most commonly embraced platforms for collaboration, customer interaction and internal marketing. Enterprise social networks are leveraged to enable formal and informal interactions within and outside an enterprise, thereby ensuring uniform and transparent communication.
Enterprises are embracing BYOD (Bring-Your-Own-Devices, part of enterprise mobility) to enable the use of personal devices and the concept of work anytime-anywhere to improve employee efficiency and effectiveness. In the customer-first world, mobile has been at the center stage and the business models are coined to collect data and give a customer a uniform Omni-channel experience.
Analytics enables unleashing the power of internal and external data gathered from various mediums through data discovery and visualization and advanced analytics.
Proactive measures are required for securing access, networks, data, applications, and the perimeter. This is the key to achieving the smarter workplaces of the future. Security is the most important decision making factor when organizations select a cloud provider, followed by reliability. There is more confidence in the cloud today, which is indicated by the growing use of cloud services for customer-facing solutions such as customer experience management and digital marketing. Over the next few years, enterprise mobility will be the top solution to be moved the cloud.
The Internet of Things (IoT) is a platform in which all objects that are identified through unique identifiers, communicate with one another to transfer data over a network without any human intervention in a business environment. IoT is taking off in Retail, Education, and TTL, with consumer products ranging from connected home services to wearable devices. About 35% have deployed next-gen solutions and over 30% of respondents said that they have customized services addressing customers, distributors, and suppliers.
In India, CIOs are adopting digital technologies at various levels based on the immediate need of organizations and revenue goals. There is a lack of holistic approach which is essential for long-term benefits. The study gives a perspective both about the demand and the supply side of the market to identify the maturity of the solutions available and also the levels of DT activities across various industries in the country. The study analyses the challenges and drivers of digital transformation (DT) in India and also analyzes the levels of DT activities in major industries such as healthcare, manufacturing, BFSI, retail, and other sectors.
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