Digital Technologies are fast changing the way we do business. Every forward-looking company is getting ready to undergo digital transformation in the post-covid world, but they are finding it difficult to bring change in the way they run the business while running the business. Companies must identify key trends that are going to affect their businesses in short-term and long-term while deciding their digital transformation strategy.

Here are the 5 Tech Trends that are driving Digital Transformation:

1) Analytics for Informed Decision Making: If companies have not started investing in analytics by now, then their survival will be in question in this connected world. Now we are generating unbelievable amount of data. With ever evolving consumer behaviour, companies need to effectively leverage the data to gather insights. Moreover, the use of data analytics will not be limited to develop customer focused strategy, but it will be equally useful in managing the business operations covering the entire supply chain – from purchasing to manufacturing to selling to post-sales service

2) Adoption of AI & ML: As companies are generating more & more data, the data is useless without the right technology to analyse it. The speed & the scale at which the data needs to captured, analysed and presented is unprecedented. The real time applications of Artificial Intelligence is growing and with power of Machine Learning, the data can make much more sense that ever. The collaboration between Big Data, AI & ML will empower the business growth.

3) IoT & Connected Devices: From internet-connected home devices to cars and from IoT-enabled machines in the factory to salesmen on the field, the business world is more connected than ever. With 5G technology just around the corner, the businesses are finding more ways to leverage this technology to improve operational efficiency and to provide better customer experience.

4) Blockchain: There has been too many speculation theories about blockchain and its various applications. Bitcoin or cryptocurrency, the widely-known application of blockchain, always take away the most of the limelight for right or wrong reasons, the real power of this technology can be used in supply chain by processing & tracking transactions.

5) Everything as a Service (XaaS): As work from home will remain an accepted practice, the SaaS (Software as a Service) market will expand its boundary to cover many more services to connect customers and employees. Cloud Technology will facilitate Everything as a Service (XaaS) model as a preferred mode to deploy and use newer technologies for small as well as large organisations.