subject: Worth Mentioning Facts Of Digital Services [print this page] Digital economy Digital economy
There are many organizations that find it hard and very much overwhelming to get the correct value from a digital economy this can be attributed to the fast growth of industries and opportunities that are not only widespread but also innovative and creative.
The highest fuller for these opportunities is digital mega trends interrupting every organization linking with social media, cloud computing, channel integration, real-time analytics and Smartphone penetration that results in the high shift in the way that customers behave.
So that one can be able to be steered out of this digital up and down, PwC suggests that you should focus your business strategies on four vital digital values. These four values will make sure that your business will invest in not only the best opportunities but the ones that matter most in the long term.
The four digital values may include:
Revenue uplift Putting up sales using digital channels
Cost reduction Improving productivity when using mobile and social technology
New monetization models grow your business through commercial innovation
Future value invest in the present generation for future growth
1. Revenue uplift
There has been an increase in revenue in many organizations because of the explosion of digital channels that allow the organizations to stream their products to new customers and with an uncontrolled access to new markets as well.
There are many companies that have turned to the digital way of doing business and leading companies such as Macys are having a good time financially speaking in their online, mobile and in-store e-commerce facilities that have made a way through to their consumers not only to purchase a lot of goods but be the deciders of where they will buy the goods and when.
2. Cost reduction
Digital technology has also helped in the increase in the collaboration of global opportunities. This can also be used by organizations to improve the value of productive efficiency, which will not only increase the output of the company but will also reduce the cost per unit.
Apple is a good example to look at because by allowing employees to be able to manage all the activities from an internet IOS, it has not only allowed them to be of help to customers but also to help ease the strain in managing the organization Thus it has resulted in having a workforce that is not only effective but reliable.
3. New monetization models
Commercialization and innovation is easier now with the new digital technology. Now no matter what business you are starting you are able to grow it from nothing to something in the shortest time possible no matter which you are competing with for market share.
Amazons growth clearly shows the importance of investing without paying much attention to the normal market crunches that most organizations look for and make their decisions on.
4. Future value
If you want to know what any organization or where any organization will be in the future you need only to look at the investment they have made to their digital capability.
This should be the way to go and is actually catching on as we see most analysts grading organization's success not based on the amount of stock they have kept in but in the amount of digital investment in the company as there is nowhere else to go but up once you have adequate digital investment.
