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What started as a buzzword two decades ago, digital transformation is a mainstream phenomenon in the digital age with every company making efforts to transform the way they do business and achieve desired outcomes. 

In fact, statistics say that digitally transformed organizations across the world will contribute a wealth of about USD 53.3 trillion by 2023 or in other words more than half of the world’s GDP.

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Almost every organization is embarking on some sort of digital transformation initiative, reimagining relationships between customers and leveraging new technology that supports them. At the heart of any digitally transformed operation is data – data that comes from operations, customers and suppliers, to name a few. 

What makes the digital transformation so impactful is that it enables companies to transform the way they leverage data and ultimately do business with their partners.

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Digital transformation is a foundational change in how an organization uses data, technology, people, and processes and delivers value to its customers. For many companies, this means rethinking their ways to access data spread across business ecosystems. 

Data is the key element in solving some of the biggest challenges companies are facing and unlocking new business opportunities.