The disruption of work and business ecosystems necessitated the use of digital transformation, and most firms stepped up their efforts to meet this unexpected change. According to Dell's Digital Transformation Index 2020, which questioned over 4000 company leaders worldwide, eight out of ten organizations accelerated their digital transformation programs in 2020. Furthermore, 89.0% of respondents stated the pandemic demonstrated the need for a more agile and scalable IT architecture. Every firm on the path to digital transformation relies on data-driven decision-making. Data is used by successful firms to get insights and predict customer behavior for more effective marketing initiatives. As discussed previously, holistic customer profiles are an important resource for data-mining consumer intelligence. Furthermore, AI can accelerate the current rate of digital transformation by making machines smarter and the interaction of technology with humans more visible and understandable. AI might help businesses accelerate innovation, develop marketing and sales strategies, and provide superior customer service.

Industrial products, processes, value chains, and aftermarket services are all affected by digital transformation. It expands the use of sensors, data, and analytics to augment people and knowledge. As a result, most industrial process organizations around the world will undergo some type of digital transformation, with many currently actively piloting innovative technologies. Digital transformation is here to stay as 2020 draws to a close and businesses look to 2021 to achieve economic recovery and progress. Amidst the pandemic, many IT teams were effective in accelerating digital projects to generate efficiencies and support work-from-home models at scale. These and other organizations are continuing to harness the benefits of digital transformation to achieve expanded efficiencies and useful insights as the pandemic has no end in sight and the need for flexible, collaborative technologies grows.

The following are a few critical digital transformation success factors that are shaping the global industry,

Formulate and align strategy-

In today's environment, the rate of technological innovation and business model disruption is faster than ever before, making it difficult to design an IT strategy that will remain relevant for three to five years. Reassessing the roadmap in year two or three to verify the IT strategy is still relevant, and course-correcting if necessary due to technology disruption or business model development is a critical digital transformation success factor.

Maximize Investment Value-

Companies' funding decisions for digital transformation projects tend to differ. The pandemic, on the other hand, has put new demands on work environments, resulting in a faster general acceptance of digital transformation, particularly when it comes to technology that enables remote work. IT departments are likewise struggling with increasing cost-cutting pressures. As a result of this dual dynamic, one of the most important digital transformation success aspects is that businesses thoroughly examine the value of efforts to guarantee that investment value and returns are maximized.

Make decisions faster and growing adoption of emerging technologies-

Businesses may take advantage of big data by putting data and analytics at the center of their digital transformation strategy. Because of the Internet of Things, businesses now have access to higher volumes of data than ever before (IoT). This data may be transformed into important business insights with the correct combination of analytical tools, allowing you to make better, faster decisions. Using AI-based solutions to unlock the potential of big data could be the key. Data and analytics innovations are continually rising to the surface, and many of them include advanced AI capabilities that both modernize and enhance existing systems.