The upstream Oil and Gas industry had several knottier issues to be solved when the era of Digital Transformation started flourishing. Many supply management systems were manual and outdated. A vast ocean of data was unutilized.
Digital Transformation is not only about investing in a new digital technology but it also requires changing the thought process and the organizational culture as a whole. Organizations must chart a well-structured digital transformation strategy to embed a digital culture in the organization and dramatically improve the digital customer experience.
Since the time belongs to digital transformation, it’s important that companies must focus on inter-mixing its digital and physical competencies for greater operational efficiency. This, in turn, will lead to a fuller sales funnel and quicker turnarounds. If numbers are to go by, the anticipated spending on digital transformation is set to increase by 42%, likely to the tune of $1.7 trillion.
Taking positive cues, companies have set a larger blueprint of going digital by means of various tech-driven platforms and tools.
- IoT-driven platforms for timely and actionable customer insights
- Chatbots for opening a new realm of uber-connectivity via instant messaging
- Mobile-first approach for a handy connectivity with customers worldwide
- Artificial Intelligence for interpreting buyer needs and developing viable solutions for them
- Blockchain for shaking up the financials pretty well
- Digital Assistants for enabling people to use voice search more frequently
Digital Transformation is about reshaping a company’s entire culture, workflow, thought processes and what not. Companies who fail to be in the line of this booming trend is living the risk of sinking without a trace.