BI Trends for 2021 – 6 of 9

Our next trend for 2021 reviews the need for Digital Transformation and how why you should include this in your strategy for the company.  

A study by Twilio found that among 2,500 global enterprises, 97% of decision-makers believed the pandemic sped up their company’s digital transformation.

While many businesses have decided to ride out the pandemic by cutting costs and reducing overhead, others are looking to strengthen their operations, so they are better prepared for the new normal.

Pre-COVID, technology was already making major changes to a variety of industries, disrupting production, challenging boundaries and labor, and redefining how we work. Once the pandemic hit, the slow and steady pace of the technology rollout was replaced with speed and vigor.

The pandemic amplified the trends, putting in motion digital strategies that replace face-to-face and in-person meetings and engagement with online collaboration and work-from-home initiatives.

Data analytics will play a critical role within companies that want to successfully navigate this new normal and execute a sustainable digital transformation. Data is the common thread that connects the entire operation, and for companies to compete effectively and profitably in the post-COVID world, data analytics must be fully embedded in the culture and operations of the business. Companies that want to remain viable must give their leaders and teams access to accurate and timely data so they can respond quickly to the ever-changing landscape.

In 2021, companies with digital transformation plans in action will vastly outpace those without.

To learn more about MCLOUD3 and Phocas Software us at info@mcloud3.com or visit our website by clicking here.

Written by Phocas Software