Chapter 1

Question 1

Digital transformation (DT)

Answer 1

the process of integrating and implementing new
technologies in all aspects of society, including everyday life and the workplace,
with the aim of improving efficiency, competitiveness and value for customers

Question 2

evolution

Answer 2

1900-1950-1990: Age of manufacturing/distribution.

Sources of information: inventory data, sales and financial data (trends) and
direct mail.

1990-2010: Information age.

Sources of information: call center, customer survey/data, transaction data,
third party data

2010: Customer age.

Sources of information: behavioral data, social data, mobile
data.
Tools used: Focus groups, customer segmentation, transactional analysis,
demographics (age, gender, location…), customer journey mapping (how
customers behave in a certain period), survey analysis, High-value customers (HVCs).

Question 3

5 market imperatives in Age of customers

Answer 3

● Transform the customer experience

● Drive business growth with privacy

● Turn Big data into Business Insights

● Embrace the mobile mind shift

● Accelerate your digital Business

Question 4

data centric companies

Answer 4

organisations prioritize data as a key asset.

Question 5

+ data centric companies

Answer 5

• better decison making (analysing data)
• imrove customer experience
• proactive instead of proactive (innovation, improve risk management)
• competitive advantage (anticipate market changes, newtrends)
• better decision making

Question 6

Big data allows:

Answer 6

● Make data-driven decisions
● Developed personalized products and services
● Improve customer experience

Question 7

Impact of technology on society and businesses:

Answer 7

● Adding value to legacy brands
● Data-driven approach to making analytical decisions (more accurate).
● Better internal and external communications with virtual tools.
● Streamlined operations and increased productivity with the cloud.
● Growth and expansion with a digital presence

Question 8

pillars of DT for success:

Answer 8

• technology
• talent
• culture of company
• new business models

Question 9

Challenges of Digital Transformation:

Answer 9

● Resistance to change
● Lack of digital skills
● Legacy systems that are difficult to integrate with new technologies
● Cybersecurity and data privacy concerns
● Uncertainty about return on investment

Question 10

Opportunities of digital transformation:

Answer 10

• Increased efficiency and productivity (easy and quick)
• optimizes resources (reduces costs)
• improve customer experience
• enhance agility and flexibility
• Development/identify new business models/opportunities and revenue streams
• Access to new markets and global expansion opportunities