The year 2020 was full of incredible stories of resilience, courage, and optimism. While the whole world suffered from an unprecedented health crisis, the pandemic also made us realize the importance of being digitally advanced. Although the COVID-19 wreaked havoc on businesses of all sizes and sectors, digitally prepared companies successfully mitigated the challenges and bounced back quickly.
Learning from the lessons learned during the lockdown and uncertainty, both SMEs and large enterprises have initiated or accelerated their digital transformation efforts post-pandemic. This shift paved the way for new modes of doing business and encouraged the use of emerging technologies like data analytics, AR/VR, and AI.
This article explains the top 5 digital transformation trends for 2021.
In the current age of digital transformation, companies across the globe are producing a lot of data at different scales. Organizing fragmented data from multiple sources is very difficult, particularly for companies that require well-curated data to know consumer insights and operate optimally. Similarly, organizations of large scales with diverse marketing channels and a wide range of products or services need to address this challenge for corporate growth.
This unprecedented growth of data coupled with the fragmentation of business operations is likely to explode the use of Customer Data Platforms (CDPs) in 2021. CDPs can be used to gain the coveted 360 customer view. Likewise, companies can use these platforms to organize, tag, and categorize data collected from different sources and make it usable in the future. Some of the powerful CDPs are the ones developed by Adobe, Microsoft, SAP, Treasure Data, and Oracle.
Another area of digital transformation that has shown unprecedented growth amid the COVID-19 pandemic is quantum computing. It played a vital role in managing the spread of the disease and developing life saving vaccines. Besides, quantum computing enables companies to monitor, analyze, and utilize data for shared benefits.
Similarly, partnerships of Honeywell & Microsoft and Splunk & Quantum Computing have brought quantum computing closer to traditional computing. This approach has allowed firms to run applications in familiar computing environments.
The COVID-19 induced social distancing norms have given rise to no-touch solutions across all businesses. Retail stores, cafes, restaurants, and shopping malls are focusing on the use of contactless solutions to deliver their products. Similarly, some cinemas have also introduced an in-seat ordering system that allows the audience to confirm their seats by using a mobile app without standing in long queues or risking their lives.
Similarly, the trend of making payments online with digital payment platforms is also becoming popular. This digital transformation initiative was taken by the banking industry to allow customers to access the digital economy while following the social distancing norms. The estimated transactions made by digital payments are expected to reach $6685102 million globally in 2021.
The COVID-19 not only wreaked havoc on the global economy but also made the companies’ confidential data vulnerable to cyberattacks. According to an estimate, over 445 million cybersecurity attacks were reported worldwide in 2020. These incidents have intensified the need for efficient cybersecurity practices to secure the customers’ data and mitigate cybersecurity challenges.
In this context, cybersecurity is another digital transformation trend that would become popular in 2021. As a part of risk management, enterprises have also started employing Chief Information Security Officers (CISOs) to implement robust cybersecurity measures. Some IT firms are also integrating machine learning, AI, and cloud into security solutions for enhanced protection.
The demand for increased work flexibility has grown rapidly amid the lockdown caused by the COVID-19 crisis. Although employees had been clamoring for remote working for a long time, the pandemic forced worldwide businesses to shift to working from home. Even as most of the workforces have returned to the offices, the trend of remote work would continue until the uncertainties surrounding outbreak resurgences settle down.
Tech-giants like Facebook, Twitter, and Google have already extended their work from home policies in 2021. This paradigm shift from in-house practices to remote working environments requires the development of smart work from home technologies. Platforms like Zoom, Google Meet, Microsoft Teams, and Webex have seen explosive growth last year. Similarly, organizations are equipping their workforces with the latest tools and technologies to enhance their productivity while working remotely.
The velocity of digital transformation has seen an exceptional revolution in 2020 due to the outbreak of the coronavirus epidemic. The trend is likely to continue in 2021 and affect the focus, decisions, and technology investments to help companies recover from this global health crisis.
With a big year ahead, digital transformation is expected to remain a buzzword in the corporate world. The rapidly changing workplace practices to continuously evolving consumer expectations would encourage businesses to adopt performance-driven solutions and digital marketing strategies to gain long-term sustainability and cement their competitive edge over rivals. Contact Khired Networks to find a trusted and reliable digital transformation partner and stay ahead of your competitors in the post-pandemic corporate world.